Important points
Taiwan Semiconductor Manufacturing Co.’s (TSM) sales rose 34% in November from a year earlier, showing that demand for the company’s artificial intelligence (AI) specialized chips remains strong.
The company, which supplies tech giants such as Apple (AAPL) and Nvidia (NVDA), reported sales of NT$276.06 billion ($8.48 billion) in November. Still, sales were down 12% from October’s numbers.
However, its revenue from January to November reached NT$2.62 trillion, a 32% year-on-year increase.
Sales soar in November as CEO calls AI demand ‘realistic’
The numbers show TSMC’s strong outlook in October, with CEO CC Wei calling AI demand “realistic” during a third-quarter earnings conference, according to records provided by AlphaSense. It was announced after stating that
Tech companies have dramatically increased spending on AI infrastructure this year to meet surging demand for emerging technologies and cloud computing, but investors worry that the huge investments won’t pay off. are.
The U.S.-listed stock of TSMC, the world’s largest contract chip manufacturer, is down about 1% in premarket trading, but has nearly doubled this year.
