Taiwan Semiconductor Manufacturing Co.’s (TSM) has posted strong sales for the month of September as demand for artificial intelligence (AI) microchips remains insatiable.
The world’s largest contract microchip manufacturer has reported revenue of $511.86 billion New Taiwan dollars ($16.03 billion U.S.) for September, up 55% year-over-year.
The company, whose clients include Nvidia (NVDA) and Apple (AAPL), said that Its third quarter revenue came in at $1.49 trillion New Taiwan dollars ($47 billion U.S.).
TSMC, as the company is known, makes about three-quarters (75%) of the world’s microchips and processors. Its business is booming due to surging demand for AI chips.
To keep up with the strong global demand, TSMC is branching out beyond its home base in Taiwan and building new manufacturing facilities.
The company is currently developing 12 new manufacturing sites around the world.
TSMC has committed to spend $265 billion U.S. in America, which includes construction of a massive new manufacturing plant in Arizona.
Management of TSMC will provide more details on the company’s sales and other financial metrics when it reports third-quarter results on Oct. 15.
TSM stock has risen 55% over the past 12 months to trade at $472.20 U.S. per share.
Tech Insider
