Taiwan Semiconductor’s October revenue grows 29%

Taiwan Semiconductor Manufacturing’s (NYSE:TSM) revenue for October rose 29.2% year-over-year to about NT$314.24B.

Revenue for October grew 24.8% compared to September 2024 when the company generated NT$251.87B.

TSM — which produces chips for some of the world’s largest tech companies including Apple (AAPL), Nvidia (NVDA) and AMD (AMD) — saw revenue from January through October 2024 amount to NT$2.340T, growing 31.5% compared to the same period in 2023.

Last month during TSM’s third-quarter earnings call, Chairman and CEO C.C. Wei had said that the AI demand was real and that it was just the beginning. Wei also noted that other than AI, overall semiconductor demand has stabilized and has started to improve.