TSMC’s quarterly revenue soars 39%

Taiwan Semiconductor Manufacturing Co. (TSMC) reported on Wednesday a 39 per cent revenue increase in quarterly revenue, beating expectations and easing worries about AI hardware spending slowdown.

TSMC, the world’s leading chipmaker and a major supplier to companies like Nvidia and Apple, announced September-quarter sales of NT$759.7 billion (New Taiwan dollar). This figure surpassed the average analyst projection of NT$748 billion.

The better-than-expected performance has reinforced the optimism of investors who believe that AI spending will remain robust as companies and governments continue to compete for advancements in this emerging technology.

However, some caution that companies like Meta Platforms and Google may find it challenging to sustain their current level of infrastructure spending without the development of compelling and profitable AI applications.

Attribution: Bloomberg

Subediting: Y.Yasser