Taiwan Semiconductor Manufacturing Company (TSM, Financial), the world's largest contract chipmaker, reported a 33.9% increase in annual revenue for 2024, totaling NT$2.9 trillion ($87.8 billion). This growth is largely attributed to surging demand for artificial intelligence (AI) chips, which have become a cornerstone of the company's success and significantly exceeded initial projections.
The strong AI momentum has more than doubled TSMC's sales since 2020, solidifying its position as a critical supplier in the semiconductor ecosystem. TSMC's stock has mirrored its operational success, soaring 81% over the past year and far outpacing the broader market's 28.5% gain.
Looking ahead, TSMC plans to release its full Q4 earnings and updated outlooks on January 16, offering further insights into its performance and strategic trajectory.
As a key supplier to major tech players like Apple (AAPL, Financial) and Nvidia (NVDA, Financial), TSMC's record-breaking revenue underscores its central role in driving innovation and meeting the growing demand for AI-driven technologies across various industries.
