TSMC(TSM.)The company's first-quarter earnings exceeded market expectations despite uncertainty over the Trump administration's trade policy and maintained full-year revenue growth expectations, thanks to continued strong demand for artificial intelligence chips.

The following is TSMC2025First quarter results:

Revenue:8392.5100 millionNew Taiwan Dollar，marketExpected to be8351.3100 millionNew Taiwan dollars.

Net Profit:3607.33NT$100 million,marketExpected to be2255NT$100 million。

Among them, highPerformance Computing Department (coveredAIand5GApplication) is the key driving force for revenue growth, month-on-month growth7%, accounting for total revenue59%. In addition, the company pointed out advanced process technology (7Nano and below) accounts for as much as73%. In the semiconductor field, the smaller the process, the more compact the transistor, the higher the performance and efficiency.

TSMCCEOWei Zhejia said at the earnings call:“The fourth quarter business is affected by the seasonal factors of smartphones, butAIThis impact is partially offset by the continued increase in related demand. Enter2025In the second quarter of 2019,We expect3Nano and5Strong growth of nanotechnology will support business development。”

As the world's largest foundry chip manufacturer, TSMC hasAIInspur continues to benefit, with its customers including American chip design giantsNvidia(NVDA.O)。

However, the Trump administration has imposed extensive tariffs on goods and strengthened its efforts to TSMC customersNvidia、Amd (amd.o)export controls may pose a challenge to companies.

Proposed by the Biden administration“AIDiffusion rules”It may also be implemented next month, further restricting the export sales of chip companies using TSMC wafer fabs.

Wei Zhejia pointed out:“We understand the uncertainty and risks brought about by the potential impact of trade policies, but no changes in customer behavior have been observed yet.”

Therefore, despite the challenges,TSMC still maintains2025Year“Close to the middle section20%”Behind the revenue growth expectations areAIThe continuous driving force for industrial development.

In order to diversify the supply chain, TSMC is investing heavily in building factories overseas, although most of its production capacity is still concentrated in Taiwan.

It seems to be in response to Trump's policy, TSMC announced last month that it would be promised650On the basis of billion US dollars, additional investment in the United States1000$100 million.

However, Wei Zhejia clarified during the conference call that the company did not go toIntel(INTC.O)Start any negotiations on joint venture factory building, technical authorization or cooperation:“TSMC has not had any discussions with other companies regarding joint ventures, technical authorizations or technical cooperation.”

This Monday,AMDIt announced that it will manufacture processors at TSMC's new plant in Arizona, the United States, the first time its chips are produced locally in the United States.

The same day,NvidiaIt also means thatBlackwellThe series of chips have been put into production at the TSMC Arizona plant.NvidiaPlans to build Gundam in the United States with partners including TSMC within the next four years5,000$100 millionAIInfrastructure.

Despite its impressive performance, TSMC's stocks listed in Taiwan fell nearly1%, the cumulative decline since the beginning of the year has exceeded20%。