Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, announced on Thursday that its third-quarter revenue reached T$989.92 billion (approximately $32.5 billion), exceeding analyst expectations and reflecting a 30% year-on-year increase driven by soaring demand for artificial intelligence (AI) chips[1][2][4].
TSMC’s latest quarterly revenue comfortably surpassed the LSEG SmartEstimate of T$973.26 billion from 22 analysts and landed at the mid-point of the company’s July guidance of $31.8 billion to $33 billion[1]. The company’s robust performance is attributed to the booming interest in AI applications, which has more than offset the cooling demand for consumer electronics that spiked during the pandemic[1].
TSMC’s major customers include tech giants such as Nvidia and Apple, both of which rely on the chipmaker for advanced processors used in devices ranging from smartphones to AI servers[1]. The ongoing AI boom, fueled by advancements in large language models (LLMs) and services such as ChatGPT, has significantly boosted orders for TSMC’s cutting-edge chips.
TSMC is scheduled to report full third-quarter earnings on October 16, including an updated outlook for the fourth quarter and the full year[1]. The company’s continued outperformance underscores its pivotal role in the global semiconductor supply chain and the tech sector’s growing dependence on AI-driven innovations.
Foxconn, another major Taiwanese manufacturer and Nvidia’s biggest server maker, also reported record third-quarter sales, highlighting the broader strength of Taiwan’s tech industry amid the AI-driven surge in demand for computing hardware[1].
With AI applications reshaping industries from cloud computing to autonomous vehicles, TSMC’s advanced manufacturing capabilities position the company for sustained growth as the backbone of the global digital economy.
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