Taiwan Semiconductor Manufacturing Co. $TSM, the world's largest contract chipmaker and a critical supplier to Nvidia Corp. $NVDA and Apple Inc. $AAPL, reported a 40% year-over-year revenue increase in May, reaching NT$320.5 billion (USD 10.7 billion). The surge reflects heightened chip stockpiling activity as global clients react to escalating geopolitical and trade risks, particularly in the context of U.S.-China technological competition. While May’s figure marks a substantial annual increase, month-over-month revenue declined by 8.3%, signaling potential inventory normalization after April’s stronger performance, when revenues surged 48% year-over-year. Despite the sequential dip, TSMC’s aggregate Q2 outlook remains aligned with consensus expectations of ~39% growth, driven by resilient demand in the high-performance computing segment.