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World’s biggest chipmaker TSMC posts record 2024 revenue as AI boost continues
By Arjun Kharpal,CNBC •
Published 2 hours ago •
Updated 56 mins ago
Brendan Mcdermid | Reuters
Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates as the company continues to get a boost from the AI boom. TSMC manufacturers semiconductors for some of the world’s biggest companies from Apple to Nvidia. For 2024, TSMC’s revenue totaled 2.9 trillion New Taiwan Dollars, its highest annual sales since going public in 1994.Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates, as the company continues to get a boost from the AI boom.
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The world’s largest chip manufacturer reported fourth-quarter revenue of 868.5 billion New Taiwan dollars ($26.3 billion), according to CNBC calculations, up 38.8% year-on-year.
That beat Refinitiv consensus estimates of 850.1 billion New Taiwan dollars.
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For 2024, TSMC’s revenue totaled 2.9 trillion New Taiwan Dollars, its highest annual sales since going public in 1994.
TSMC manufacturers semiconductors for some of the world’s biggest companies, including Apple and Nvidia.
TSMC is seen as the most advanced chipmaker in the world, given its ability to manufacture leading-edge semiconductors. The company has been helped along by the strong demand for AI chips, particularly from Nvidia, as well as ever-improving smartphone semiconductors.
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“TSMC has benefited significantly from the strong demand for AI,” Brady Wang, associate director at Counterpoint Research told CNBC.
Wang said “capacity utilization” for TSMC’s 3 nanometer and 5 nanometer processes — the most advanced chips — “has consistently exceeded 100%.”
AI graphics processing units (GPUs), such as those designed by Nvidia, and other artificial intelligence chips are driving this demand, Wang said.
Taiwan-listed shares of TSMC ha