TSMC bullish on outlook as Q3 profit beats forecasts on AI boom

Quick Summary:

TAIPEI: TSMC, the world's largest contract chipmaker, said on Thursday it expects strong growth in its business to be sustained as it reported a forecast-beating 54% jump in quarterly profit due to soaring demand for chips used in artificial intelligence (AI).

It said on Thursday it expects its first fab in Arizona to see volume production in 2025, while its second fab there should start volume production in 2028.

TSMC, colloquially referred to in Taiwan as the "sacred mountain protecting the country" for its critical role in Taiwan's export-dependent economy, faces little competition, though both Intel and Samsung are trying to challenge its dominance.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaTaiwan

Topics: Semiconductor Chipmaker TSMC /Business/Business News Artificial intelligence Technology AI Corporate News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 15:30:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 501 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23099691

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