Taiwan Q1 preliminary GDP hits 3-year high on robust AI demand

TAIPEI (Reuters) -- Taiwan's trade-dependent economy grew at its fastest quarterly pace in nearly three years in the first three months of 2024 and quicker than expected thanks to strong exports driven by demand for artificial intelligence applications.

Taiwan is a key hub in the global technology supply chain for companies such as Apple and Nvidia, and home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co.