Overview: TSMC reported strong Q1 2025 results with a 35% YoY revenue increase and expects full-year revenue to grow by around mid-20% YoY. Growth is driven by rising AI-related demand, with AI orders expected to see a solid mid-40% CAGR over the next five years. Despite ongoing tariff concerns and volatility in the semiconductor industry, the impact on foundry orders remains limited. TSMC also ruled out a joint venture with Intel’s U.S. fab and confirmed it will keep its most advanced nodes in Taiwan.