Taiwan’s Chipmaking Giant Sees Soaring Revenue Amid AI Boom
Taiwan Semiconductor Manufacturing Co (TSMC), the world’s leading contract chipmaker, has announced a significant surge in revenue for the third quarter of this year, driven largely by the growing demand for artificial intelligence (AI) technology. The company, which supplies chips to industry giants such as Apple and Nvidia, has been at the forefront of the AI revolution, which has helped it navigate the decline in pandemic-related demand.
According to calculations, TSMC’s revenue for the July-September period reached NT$759.69 billion (approximately $23.62 billion), exceeding market expectations and the company’s own forecasts. This represents a remarkable 36.5% year-on-year growth, compared to the $17.3 billion reported in the same period last year.
In September alone, TSMC’s revenue saw a 39.6% year-on-year increase, reaching NT$251.87 billion. While the company did not provide further details in its brief statement, investors are eagerly awaiting the release of its full third-quarter earnings report on October 17, which will include an updated outlook.
TSMC’s stock, listed on the Taipei exchange, has seen a significant 72% rise so far this year, outperforming the broader market’s 26% gain. The company’s shares closed 1% higher on Wednesday, ahead of the revenue announcement.
Leave a Reply