Taipei., Taiwan Semiconductor Manufacturing (TSMC), the world’s largest contract chipmaker, announced a 54 percent rise in its quarterly profit, beating forecasts, driven by rising demand for chips used in artificial intelligence (AI). .
TSMC, the dominant producer of advanced chips used in AI applications whose customers include Apple and Nvidia, has benefited from the rise of AI across a spectrum of industries.
The company announced a net profit of 325.3 billion Taiwan dollars (10.11 billion US dollars) in the quarter ended September 30 – the highest of all quarters – against the forecast of $300.2 billion .
Additionally, TSMC – Asia’s most valuable publicly traded company – said third-quarter revenue rose 36 percent year-on-year to $23.5 billion, better than the company’s previous forecast of $22.4 billion. one thousand 200 million dollars.
It also said that full-year 2024 revenue will grow about 30 percent in US dollars, compared to a previous forecast slightly above the mid-range of 20 percent.
The company’s strong results and outlook highlight strong demand for AI, after some industry observers raised doubts following lower-than-expected 2025 sales outlook presented earlier this week by ASML, the world’s largest supplier of chip manufacturing equipment.
TSMC is spending tens of billions of dollars building new factories overseas, including $65 billion on three plants in Arizona, in the United States, although it has said most manufacturing will remain in Taiwan.
On Thursday it said it expects its first factory in Arizona to begin production in 2025, while the second should do so in 2028. The third is expected to begin production by the end of the decade.
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