TSMC Achieves 33.9% Revenue Growth in 2024, Fueled by AI Demand from Nvidia and Broadcom

Jan 10, 2025, 07:33 AM

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a significant surge in revenue for 2024, driven by the escalating demand for artificial intelligence (AI) chips. The company's full-year revenue reached NT$2.894 trillion, marking a 33.9% increase from 2023. December alone saw a year-on-year revenue increase of 57.8% to NT$278.2 billion, reflecting the strong market for AI technology. TSMC's fourth-quarter revenue hit NT$868.5 billion, surpassing market expectations and highlighting the company's pivotal role in supplying chips to major clients like Nvidia and Broadcom. The robust performance is attributed to the global boom in AI computing, with TSMC benefiting from its position as the world's leading chip manufacturer, achieving a record revenue increase of 34% for the year.