TSMC tops estimates with record third-quarter profit on AI demand
Taiwan's largest chipmaker posted a new quarterly profit high, its sixth straight record, as demand for AI chips kept orders strong. Despite the results, its shares dropped.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Taiwan Semiconductor Manufacturing Co, or TSMC, reported third-quarter profit on Thursday that beat expectations and set a new high, driven by strong orders tied to artificial intelligence. It was the company's sixth straight quarter of record profit. Chip capacity is tightly contested, as Nvidia, Apple, Broadcom and AMD all seek more of it.
Why it matters
Investors are watching the results for clues about the health of the AI trade. Despite the record quarter, the stock fell.
Timeline
- Oct 15, 1:37 AM ET: TSMC releases third-quarter earnings showing a record profit for a sixth straight quarter.
- Oct 15, 11:04 AM ET: TSMC says it cannot make chips for every customer as Nvidia, Apple, Broadcom and AMD fight for capacity.
- Oct 15, 10:57 PM ET: TSMC's stock falls despite the record profit.
Coverage
- TSMC Just Posted Record Profit for the Sixth Straight Quarter. Why Did the Stock Fall? (The Globe and Mail)
- TSMC chip capacity is ‘fierce’ battleground for AI customers, amid record quarter (CNBC)
- TSMC posts record profit amid 'extremely robust demand' for AI chips (Yahoo News)
- TSMC Q3 profit surges more than expected to record high on AI-fueled demand (Yahoo News)
- TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom (CNBC)
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