Taiwan Semiconductor Manufacturing Co. (TSMC) announced a surprising 39% rise in quarterly revenue, easing fears regarding a potential downturn in AI hardware spending. The company, which is a key supplier for major tech firms such as Nvidia Corp. and Apple Inc., reported sales of NT$759.7 billion ($23.6 billion) for the September quarter, exceeding the average analyst projection of NT$748 billion.
The results indicate a robust demand for semiconductors, particularly amid the ongoing growth of AI technologies. TSMC's performance is significant not only for Taiwan's economy but also for global technology supply chains that rely heavily on its chips. The company is set to disclose its full financial results next Thursday, which may provide further insights into the health of the semiconductor market.
Source: bloomberg.com (2024-10-09)