Taiwan's TSMC says net profit rose 57% in fourth quarter / Photo: I-Hwa CHENG - AFP/File
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Taiwan's TSMC says net profit rose 57% in fourth quarter
Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.
Taiwan Semiconductor Manufacturing Company is the world's largest contract maker of chips that are used in everything from Apple's iPhones to Nvidia's cutting-edge artificial intelligence hardware.
The firm said net profit for the three months to December jumped 57 percent on-year to NT$374.7 billion (US$11.4 billion).
That was better than the NT$369.8 billion forecast by analysts surveyed by Bloomberg News, and underscores expectations for sustained spending on AI infrastructure from the likes of Microsoft and Amazon.
Net revenue for the fourth quarter rose 38.8 percent to NT$868.46 billion, TMSC said, beating forecasts.
TSMC said last week that net revenue rose 33.9 percent to NT$2.9 trillion ($87.8 billion) in 2024.
Taiwan's largest company is at the forefront of the AI revolution but it has been grappling with geopolitical tensions between Beijing and Washington over technology, trade and Taiwan.
The United States this week tightened controls on high-end chip exports as it seeks to curb the flow of the advanced technology to China.
TSMC has been under pressure to move more of its production away from Taiwan, where the bulk of its fabrication plants are located.
While Taiwan is a self-ruled island, China claims it as part of its territory and has threatened to use force to bring it under its control.
TSMC's new factories overseas include three planned in the United States and one that opened in Japan last year.
The United States is awarding TSMC billions of dollars to help build several plants on US soil, in an effort to revive US manufacturing and secure access to chips.
TSMC drove a surge in Taiwanese foreign direct investment in 2024, Bloomberg reported, citing figures from the Economic Ministry.
Bloomberg said the data showed a "decoupling" from China, with investment in Japan and the United States by Taiwanese companies hitting a record as investment in China stagnated.
Ch.Havering--AMWN