Taiwan Semiconductor Manufacturing Co. (TSMC) delivered stronger-than-expected third-quarter revenue, surging 30% year-on-year to T$989.92 billion ($32.47 billion) as booming AI demand outweighed slowing consumer electronics sales.
The result topped analyst projections of T$973.26 billion, reflecting robust orders from clients like Nvidia and Apple. TSMC’s guidance for the quarter had projected revenue between $31.8 billion and $33 billion, placing the result firmly in the middle of its forecast.
The chipmaker’s success highlights its central role in powering the AI revolution, from GPUs used in data centers to chips embedded in next-generation devices. Shares of TSMC have rallied 34% this year, outpacing the broader Taiwan market, which is up 18.5%.
The company is set to release its full earnings report on October 16, which investors expect to confirm continued growth in AI-related chip production. Meanwhile, Foxconn, another key player in Nvidia’s supply chain, also reported record quarterly revenue, signaling sustained momentum across the sector.
