TSMC Stock Surges on AI-Driven Revenue Growth
Taiwan Semiconductor Manufacturing Company (TSMC) shares climbed 3.06% to $295.27 after reporting record October sales of NT$367.5 billion ($11.9 billion), a 16.9% year-over-year increase. The surge reflects robust demand for AI chips and a broader recovery in semiconductor markets.
Advanced process nodes (7nm and below) accounted for 74% of wafer revenue, underscoring TSMC's technological edge. The company forecasts Q4 revenue between $32.2 billion and $33.4 billion, with AI-related demand expected to mitigate seasonal slowdowns.
Investor confidence remains high as TSMC solidifies its position as the backbone of AI chip production, serving major clients like Nvidia and AMD. The stock dipped slightly in after-hours trading but maintains strong momentum heading into year-end.
