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TSMC Sets Revenue Record in January, Eyes Robust Growth Amid AI Demand Surge

Despite a seasonal dip expected in February, TSMC projects a significant annual revenue increase, driven by AI and high-performance computing
Taiwan
t 2330.TW Blue Chip 150 Tech 350 Semicon 75
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In January, Taiwan Semiconductor Manufacturing Company (TSMC) achieved a notable milestone, with revenues soaring to NT$215.785 billion. This figure represents a 22.4% increase from the previous month and a 7.9% rise year-over-year, marking a new high for the period. The surge in demand for high-performance computing has been identified as a key catalyst for this impressive revenue growth.

Looking ahead, TSMC anticipates its first-quarter revenue to range between US$18 billion and US$18.8 billion, translating to a mid-point decrease of approximately 6.2% quarter-over-quarter. This projection factors in an estimated average exchange rate of NT$31.1 per US dollar. Industry analysts predict a temporary dip in TSMC’s performance in February, attributed to the Lunar New Year holiday and a reduction in working days, estimating average monthly revenues for February and March to settle between NT$172 billion and NT$184.4 billion.

Despite the anticipated February slowdown, TSMC remains optimistic about the year ahead. The company expects robust growth in 2024, fueled by the burgeoning demand for artificial intelligence (AI) technologies. TSMC forecasts its annual revenue in US dollars to reach new heights, projecting an increase of 21% to 26%. Additionally, the semiconductor giant anticipates that the contribution from its 3nm process technology will climb to 15% of its total revenue, underscoring TSMC’s strategic emphasis on advancing its technological capabilities to meet the evolving demands of the global market.

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