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Investing.com-- Taiwan Semiconductor Manufacturing Corporation (NYSE:TSM), or TSMC, on Thursday reported a sharp increase in its September revenue, setting up the world’s biggest chipmaker for a positive third quarter amid strong artificial intelligence-driven demand.
TSMC’s September revenue grew 31.4% year-on-year to T$330.98 billion ($10.84 billion). While revenue did fall about 1.4% from August, it still pointed to a third-quarter revenue of T$989.92 billion ($32.48 billion), up substantially from T$759.69 billion a year ago.
The figure was also higher than Reuters estimates of T$973.26 billion, and was around the midpoint of the $31.8 billion to $33 billion guidance range issued by TSMC during its second-quarter earnings.
TSMC is the world’s biggest contract chipmaker and has clocked years of outsized earnings growth, as increased interest in AI development ramped up global demand for semiconductors.
The company is a key supplier to AI and tech majors such as NVIDIA Corporation (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL). AI-fueled demand for server and data center components has largely offset weakness in consumer electronics chips.
TSMC shares are trading up 35% so far in 2025, and hit a series of record highs over the past week on sustained optimism over AI-fueled demand.