Based in Taiwan TSMCis the world’s largest chip manufacturer. So much so that the company supplies chips to all kinds of products from the biggest companies on the market, from Apple to NVIDIA and Tesla. Therefore, the way the company performs is of great importance.

TSMC, now too Financial results 3rd quarter brought us together. The results showed that the company had a very good three months, exceeding expectations.

Turnover increased by 36.5%

According to the company’s statement, which covers the period July-September 2024 Revenues of $23.62 billion were achieved in the third quarter. This is compared to the same period the previous year ($17.3 billion). an increase of 36.5% It means it happened. In September alone there was a 39% increase in turnover. They also managed to beat analyst profit expectations of $23.33 billion. There is no statement yet on the profit.

TSMC has been booming lately, mainly due to the widespread use of artificial intelligence. The company produced advanced chips used to train artificial intelligence models. Sales since 2020 more than 2x increase had shown. Since ChatGPT was released in 2022, its shares have more than doubled. Looking specifically at this year, 72% increase in shares was in question. We even saw it exceed the 1 trillion market value in July. Let’s note that its current value is $964 billion.

However, in recent months, some investors began approaching TSMC with suspicion. The reason for this was rumors that companies’ artificial intelligence hardware spending was declining. However, the third quarter results showed that these concerns decreased and confidence in the company increased.