TSMC Achieves Record Revenue with 34% Annual Growth, Fueled by AI Chip Demand

Jan 10, 2025, 06:05 AM

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a significant increase in revenue for December 2024, reaching NT$278.16 billion ($8.4 billion), a 57.8% year-on-year increase. This performance contributed to a full-year revenue of NT$2.894 trillion, marking a 34% rise from 2023 and setting a record for the company. The surge was driven by the AI chip boom and heightened demand for AI chips from major clients like Nvidia and Broadcom, as well as substantial investments in data center infrastructure by companies such as Microsoft, Amazon, and Google. TSMC's fourth-quarter revenue hit NT$868.5 billion ($26.3 billion), surpassing analyst expectations and reinforcing optimism about the ongoing AI hardware spending trend into 2025.