TSMC Q3 sales beat estimates on surging AI chip demand

What happened: TSMC's third-quarter revenue topped market expectations as demand for artificial intelligence chips continued to fuel growth at the contract chipmaker. Key numbers: Q3 revenue about NT$1.49 trillion ($46.7 billion), up 50% year on year, above the NT$1.46 trillion analyst estimate. September revenue rose 55% year on year to NT$511.86 billion, down 0.6% from August. Why it matters: The results underscore continued strength in demand for advanced chips used in AI accelerators and data centers, benefiting TSMC customers including Nvidia, Advanced Micro Devices and Apple. Market: -1.1% by next close ($336.64 on Oct 9), +26.8% YTD Coverage: 4 outlets in 24h

TSMC's third-quarter revenue topped market expectations as demand for artificial intelligence chips continued to fuel growth at the contract chipmaker.

The results underscore continued strength in demand for advanced chips used in AI accelerators and data centers, benefiting TSMC customers including Nvidia, Advanced Micro Devices and Apple. Market: -1.1% by next close ($336.64 on Oct 9), +26.8% YTD