TSMC Oct revenue jumps 60% as AI-fueled demand remains strong

 Taiwan Semiconductor Manufacturing Corp, or TSMC, clocked a sharp increase in its October revenue, as artificial intelligence development continued to buoy demand for advanced chips.

TSMC’s October sales grew 59.7% year-on-year to T$367.47 billion ($11.8 billion), the company said in a statement on Tuesday.

Revenue grew nearly 15% from the prior month, while January-October sales stood at T$3.130 trillion, up 43.3% from last year. 

The world’s largest contract chipmaker continued to benefit from outsized AI-drive chip demand, which CEO C.C. Wei forecast will continue well into 2027 and beyond. 

Tuesday’s data showed TSMC on track for another blowout quarter, after it clocked record earnings in the September quarter.

TSMC plans to rapidly expand its production capacity to meet demand, and warned that its output was likely to fall short of demand in the coming quarters.