Taiwan Semiconductor Manufacturing Co. (TSMC) reported robust revenue growth in October, as the company continued to capitalize on strong demand driven by artificial intelligence applications.
Revenue of the global leader in contract chipmaking rose 16.9% year-on-year to T$367.47 billion ($11.86 billion) for the month, representing an 11% increase from September.
For the first ten months of the year, TSMC’s revenue reached T$3.13 trillion, marking a 33.8% rise compared to the same period in the previous year. The sustained growth underscores the ongoing benefits TSMC is experiencing as companies worldwide expand data center and server capacity to support their AI initiatives.
TSMC remains a crucial supplier for NVIDIA Corporation, a major player in the AI sector, and the chipmaker’s performance has closely mirrored NVIDIA’s valuation surge over recent years. Last week, Nvidia CEO Jensen Huang indicated he had requested additional chip supplies from TSMC amid persistently high demand for advanced AI chips.
