Taiwan Semiconductor Manufacturing Co. (TSMC) reported record third-quarter revenue of NT$1.49 trillion ($46.71 billion). Revenue rose 50% from the same period last year.
The result beat analysts’ forecast of about NT$1.46 trillion. Strong demand for advanced chips used in artificial intelligence (AI) applications and data centers drove much of the growth.
TSMC, a key supplier to Nvidia and Apple, reported September revenue of NT$511.86 billion, up 54.6% year over year. The company is scheduled to report its full quarterly earnings on October 15.