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Taiwan Semiconductor reports record October sales as AI demand accelerates

Taiwan Semiconductor reports record October sales as AI demand accelerates

Electronics, Technology4 months ago107 Views

Taipei — Taiwan Semiconductor Manufacturing Co reported a sharp rise in October revenue, driven by continued demand for artificial intelligence chips.

The world’s largest contract chipmaker said monthly revenue climbed 16.9 per cent from a year earlier to T$367.47 billion (US$11.86 billion), setting a new record for the company. Sales were also 11 per cent higher than in September.

Despite the strong figures, it was TSMC’s slowest pace of growth since February. The company nonetheless lifted its full-year revenue growth forecast to the mid-30 per cent range, compared with around 30 per cent previously.

The revision follows renewed strength in AI chip demand. Last week, Nvidia chief executive Jensen Huang said he had asked TSMC to increase supply to meet sustained orders for its AI processors. TSMC also produces semiconductors for major clients including Advanced Micro Devices, Qualcomm, and Apple.

Shares in Taiwan Semiconductor rose 2 per cent in midday trading on the New York Stock Exchange on Monday.

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