TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom

TSMC reported its third-quarter earnings on Thursday.

TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom

TL;DR

  • TSMC reported a record third-quarter profit, exceeding estimates.
  • The company's performance was driven by high demand for AI chips.
  • Net profit surged 68.7% year-on-year.
  • 3-nanometer chips accounted for the largest share of revenue (33%).
  • High-performance computing was the largest revenue segment (68%).
  • Automotive segment saw the fastest quarterly growth (23%).
  • TSMC plans to invest $265 billion in its Arizona manufacturing facilities.
  • The company is also considering an investment in Texas.