TSMC sees robust outlook for chips despite tariff uncertainty

TSMC’s profits surged 60% year-on-year to $11.1 billion in the first quarter, the Taiwanese chipmaking giant said Thursday, as it issued an upbeat outlook despite US President Donald Trump’s whipsawing trade policy.

While US tariffs pose “uncertainties and risk,” TSMC’s CEO said, the firm has seen no change in its customers’ behavior and expects demand to remain strong, particularly for high-end chips used to power artificial intelligence.

The bullish forecast from TSMC, which counts Apple among its customers, will offer some relief to investors after a bleak week for the semiconductor industry. ASML, which builds chipmaking machines, reported orders below expectations, while Nvidia warned it faced a $5.5 billion charge after Washington barred it from selling its H20 chips to China.