TSMC posts forecast-beating third-quarter sales
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The news: Taiwan Semiconductor Manufacturing Co (TSMC) reported a 30% increase in sales during the third quarter, as major US tech firms continue ploughing funds into the AI industry.
The numbers: TSMC’s revenue for the three-month period ending September hit T$989.92 billion ($49.4 billion), while Bloomberg analysts had estimated sales to come in at NT$962.8 billion.
Shares in TSMC have gained more than 30% this year thanks to the prolonged AI boom.
The context: TSMC, Asia’s most valuable company, is a key chipmaker for AI designers Nvidia, AMD and Broadcom, and also produces processors for Apple devices.
In March this year, the company announced plans to invest an additional USD100 billion ($160.3 billion) in the United States to expand its chip production, taking its total planned investment in the country to USD165 billion.
The company lifted its 2025 outlook in July after posting a record profit in the second quarter. TSMC is set to release its full third-quarter results on 16 October.
