Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, reported a significant 16.5% rise in its first-quarter revenue, reaching $18.5 billion, which exceeded market expectations and the company's own forecasts. This growth is attributed to the booming demand for AI applications, marking the company's fastest revenue increase since 2022. TSMC's monthly revenue in March alone surged by 34.3% year-on-year to $6.1 billion, showcasing the accelerating demand for semiconductor technology. Additionally, TSMC plans to build cutting-edge chip fabrication plants in Kaohsiung City, Taiwan, which has led to a significant increase in local housing prices, up 20%-30% year-on-year in the first quarter, with an 80% rise over the past 2.5 years. The company also disclosed its top seven customers for 2023, with Apple leading at 25% of revenue, followed by Nvidia (11%), AMD (7%), Qualcomm (7%), MediaTek (5%), Broadcom (5%), and Intel (4%). TSMC expects revenue growth of at least 20% in 2024 and has budgeted a capital expenditure (capex) of $28B-$32B.