TSMC's pre-market share price surged by 2.12%. In a recent report, UBS reiterated its "Buy" rating for TSMC and elevated its target price along with its revenue growth forecast for 2025. Fueled by the surging demand for cloud AI and the deployment of advanced process capacities, TSMC anticipates that its dollar revenue growth rate in the second quarter of 2025 will surpass the company's internal projections, with gross margins maintaining at elevated levels. Additionally, UBS lifted its estimate for TSMC's long-term compound annual growth rate of earnings per share (EPS), underscoring the sustained impetus provided by the N2 process (2-nanometer technology) and the cloud AI segment on profitability.