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

Google Stock Surges as Investor Confidence Grows Following Tech Sector Rally

Alphabet Inc. (NASDAQ: GOOGL), the parent company of Google, saw its shares surge on Friday,…

2 days ago

Is a 2.8% COLA Enough to Beat Inflation in 2026?

The Social Security Administration (SSA) has confirmed a 2.8% cost-of-living adjustment (COLA) for 2026, impacting…

2 days ago

How Alaska Airlines’ Outage Exposed a Hidden Risk for African Airlines

Alaska Airlines was forced to cancel more than 360 flights after a major IT outage…

2 days ago

Inside Tesla’s Q3 Earnings Miss: Price Cuts, Profit Drops, and the Robotaxi Gamble

Tesla’s third-quarter 2025 results painted a challenging picture for the EV giant. Despite strong delivery…

4 days ago

Inside Meta’s AI Reshuffle: Why 600 Jobs Were Cut in the Race Toward Superintelligence

In a bold restructuring move, Meta Platforms Inc. has laid off around 600 employees from…

4 days ago

SASSA November 2025 Payment Schedule: Key Dates, Policy Insights, and What Beneficiaries Should Expect

As South Africa prepares for the November 2025 grant cycle, millions of social grant beneficiaries…

7 days ago