Taiwan Semiconductor Manufacturing Co. recorded a 59.7% year-over-year revenue increase in October, CNBC reported, adding a monthly measure of chip demand amid continued artificial intelligence investment.
CNBC reported October sales of NT$586.89 billion ($17.88 billion), 14.7% above September's level. CNBC said TSMC benefited from demand for advanced semiconductors as large technology companies sustained heavy investment in artificial intelligence.
The company's third-quarter results showed net profit reaching a record NT$763.1 billion. Revenue was NT$1.49 trillion, and net profit beat estimates. TSMC's operating margin came in at 58.7%, above the 58% ceiling in its guidance range.
TSMC expects capital outlays across 2026–28 to be significantly higher than its spending over the preceding three years, citing customer demand as the reason.
Taiwan's exports totaled $96.76 billion in October, a 58.9% increase from a year earlier, government data released Monday showed. Local media, citing finance ministry figures, reported that electronic components exports rose 61.4% year over year.
TSMC shares closed 2.24% higher Tuesday amid broader market volatility in Taiwan, CNBC reported. CNBC also reported that Taiwan's financial regulator announced tighter short-selling rules last week, which took effect Monday and lowered the intraday order cap to 3% from 30%.
