TSMC revenue up 36% as world+dog demands AI and smartphone chips

Taiwan's semiconductor giant TSMC has reported a good third quarter with revenue up 36 percent over a year ago, due to strong demand from chip companies for smartphone and AI-related silicon.

The world's largest semiconductor contract manufacturer said its income for the third quarter ended September 30, 2024 stood at $23.50 billion in US dollars, a 36 percent jump in US dollar figures on the same period last year and 12 percent up on the previous quarter.

Shares in TSMC were 6 percent up in early premarket trade, and are now 80 percent higher in value than at the start of the year.

Senior VP and Chief Financial Officer Wendell Huang was unequivocal about what has been driving this leap in revenue: "Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3 nm and 5 nm technologies."

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