Money

TSMC Reports Record-Breaking Fourth-Quarter Results, Driven by AI Demand


Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, has reported a record-breaking net profit of T$374.68 billion (approximately $11.38 billion) for the fourth quarter of 2024.

This marks an impressive 57% year-on-year increase, in line with market expectations, as the LSEG SmartEstimate had projected a profit of T$377.95 billion.

TSMC’s revenue for the quarter reached T$868.42 billion ($26.36 billion), reflecting a robust 34.4% increase compared to the same period last year.

The surge in revenue and profit is largely attributed to the soaring demand for semiconductors used in artificial intelligence (AI) applications, which continues to reshape industries worldwide.

AI Boom Powers Growth

As a key supplier to tech giants such as Apple and Nvidia, TSMC has significantly benefited from the AI boom.

The company’s advanced semiconductor technologies are essential for powering AI-driven applications, contributing to its strong financial performance.

Annual revenue for 2024 rose by 34% to NT$2.89 trillion, underscoring TSMC’s critical role in the global semiconductor supply chain.

Expanding Capacity to Meet Global Demand

To meet growing global demand, TSMC is investing heavily in expanding its manufacturing capacity. The company is progressing with plans to build new factories, including significant projects in the United States, while maintaining the majority of its production operations in Taiwan.

This expansion aligns with efforts to diversify production and strengthen supply chain resilience amid geopolitical challenges.

Looking Ahead

TSMC’s record-setting performance highlights its pivotal role in the technology sector, particularly in enabling AI advancements.

Analysts predict continued growth for the company as demand for high-performance semiconductors remains strong.

“The AI revolution has just begun, and TSMC is uniquely positioned to capitalize on this trend,” said a company spokesperson.

“We remain committed to innovation and delivering value to our customers worldwide.”

With its strategic investments and unmatched technological capabilities, TSMC is poised to maintain its leadership in the semiconductor industry, further solidifying its position as a critical enabler of the global digital economy.

Also Read

Janet Yellen Defends U.S. COVID Spending: A Necessary Trade-Off for Economic Stability

XRP Surges Past $3 Amid SEC Appeal Deadline

theafricalogistics

Recent Posts

TrumpRx Launch: What the New Drug Pricing Website Means for Patients

In a move that is already making waves across the healthcare and political landscape, US…

2 days ago

Technology Adoption in African Logistics: Comparing South Africa, Kenya, and Egypt in 2025

Logistics is the backbone of Africa’s economic growth. In 2025, as trade flows expand under…

1 week ago

CSL Shares Plunge Amid Trump’s Tariff Announcement and Strategic Overhaul

CSL Limited (ASX: CSL), one of Australia’s leading biotechnology firms, has seen its share price…

1 week ago

Trump’s 100% Pharma Tariff: What It Means for Indian Drugmakers

U.S. President Donald Trump has announced a 100% tariff on imported branded and patented pharmaceutical…

1 week ago

U.S. Stocks Falter as Strong Growth and Low Jobless Claims Rattle Markets

U.S. equities dipped today, reflecting investor caution as the latest economic data complicates the Federal…

1 week ago

Iron Hill Brewery Shuts Doors: What Led to the Abrupt Closure of All Locations

Iron Hill Brewery & Restaurant, a beloved chain known for its craft beers and casual…

1 week ago