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TSMC Posts 54% Profit Surge in 3Q, Boosted by AI Chip Demand and Optimistic on Future Growth

Taiwan Semiconductor Manufacturing Co (TSMC) , the world’s largest contract chipmaker, reported a 54% jump in quarterly profit , surpassing forecasts, thanks to soaring demand for AI-related chips . This robust performance underscores TSMC’s dominance in producing advanced chips for AI applications, with key customers like Apple and Nvidia . TSMC's net profit for 3Q2024 reached T$325.3 billion (US$10.11 billion) , exceeding the T$300.2 billion forecasted by analysts. The company's revenue rose 36% year-on-year to US$23.5 billion , driven by strong demand for smartphone and AI chips utilizing its cutting-edge 3nm and 5nm technologies . The AI boom has been a major growth driver, with AI processors expected to account for a mid-teens percentage of TSMC's overall revenue for 2024. TSMC's capital spending for the current quarter is set to more than double to US$11.5 billion , and it expects capital expenditure to increase further in 2025 as demand remains robust. Chai
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Adobe Launches AI Video Generator Amid Growing Competition with OpenAI and Meta


Adobe Inc has unveiled a set of AI tools designed to create and modify videos, marking its entry into the highly competitive race for AI video generation alongside companies like OpenAI, Meta, and Google. Announced at Adobe’s annual product conference in Miami, the new features integrate into Adobe Premiere, its popular video-editing software, allowing users to extend clips using generative AI. Other online tools will allow users to generate videos from text prompts and existing images.

While Adobe is not the first to develop AI video technology, it is the first major software company to make such tools widely available to customers. Startups like Runway AI have already launched similar products, but Adobe is focused on embedding these AI capabilities into the tools that professionals already use.

Ely Greenfield, Adobe’s Chief Technology Officer for digital media, emphasized that their AI tools are designed for real workflows and user-friendly integration into existing software. Unlike competitors, Adobe’s AI models have been trained primarily on its own stock media library, ensuring that the content generated is commercially safe. This approach differentiates Adobe from rivals that have faced criticism for scraping data across the internet to train AI models.

Adobe’s AI video tools are part of a broader push to incorporate generative AI into its portfolio, which already includes Photoshop and Illustrator. The company has developed text-to-image tools that have been used billions of times and are now looking to expand into video and 3D content generation.

Despite fears that AI advancements from OpenAI and others might disrupt Adobe’s dominance in the creative industry, the company continues to innovate and maintain a cautious, customer-centric approach. Adobe is not charging extra for AI usage beyond its standard subscription fees, although future pricing may differ for its video-focused AI tools.

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