Taiwan Semiconductor Manufacturing Company (TSMC) reported record third-quarter revenue of $46.7 billion (NT$1.49 trillion). Revenue rose 50% year over year, largely on strong demand for advanced AI chips.
TSMC manufactures more than 90% of the world’s most advanced semiconductors for clients including NVIDIA, Apple and AMD.
The stronger-than-expected sales drew positive reactions from analysts. Wedbush Securities called the result a good sign for the fourth quarter, said the beat was larger than typical and reiterated its Outperform rating on the stock.
TSMC shares rose 1.4% in premarket trading on Friday.