TSMC Q3 profit blows past expectations on strong AI demand
)- the world’s biggest contract chipmaker- posted a stronger-than-expected third quarter profit on Thursday, as sustained demand from the artificial intelligence industry continued to boost its topline.
The Taiwanese firm clocked a net profit of T$325.26 billion in the three months to September 30, TSMC said in a press release. The figure was higher than a Reuters estimate of T$300.2 billion.Earnings were boosted chiefly by increased demand for TSMC’s advanced 3-nanometer chips, which accounted for 20% of overall revenue from wafer sales.
TSMC is a key component of the global chipmaking supply chain, and has benefited greatly from increased demand on the back of the AI boom.) among its biggest clients, with the latter being a key source of demand for TSMC in the past year. Nvidia makes the most advanced AI chips in the market.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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