TSMC Shines with 54% Profit Surge Amid AI Demand Boom

Taiwan Semiconductor Manufacturing Co, a key player in AI chip production, reported a 54% rise in Q3 profits, fueled by burgeoning AI demand. This was above analyst expectations. The company also increased its revenue forecast, driven by strong performance and strategic capital expenditures despite challenging market conditions.

Taiwan Semiconductor Manufacturing Co (TSMC), leading the advanced chip market for AI applications, announced a 54% increase in profits for the third quarter, beating analysts' predictions. This surge reflects the growing demand for AI technology across industries, significantly boosting TSMC's financial results.

Boasting a net profit of T$325.3 billion ($10.11 billion) against forecasts of T$300.2 billion, TSMC continues to dominate globally. The company's revenue rose 36% year-on-year, totaling $23.5 billion, surpassing its previous estimates. Key customers include giants like Apple and Nvidia.

Despite challenges in the chip market, TSMC is investing heavily to expand its production capacity, notably in the U.S. The favorable market conditions, particularly the AI boom, have also driven TSMC's stock up by 75% this year, reinforcing its pivotal role in Taiwan's economy.

(With inputs from agencies.)