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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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Goldman Sachs Sees 45% Profit Surge as Stock Trading Shines

Goldman Sachs Group Inc. reported a 45% jump in third-quarter profits, driven by a strong performance in its equity-trading unit and a recovery in its investment-banking business. The firm's stock traders delivered their best quarter in over three years, with Goldman on track for a record year in stock trading. This surge helped offset declines in the bank's fixed-income trading.

Goldman’s third-quarter revenue rose 7% to $12.7 billion, while net income climbed to $2.99 billion, or $8.40 per share. Despite the positive results, CEO David Solomon expressed concerns about new capital rules for banks, warning that such regulations could slow economic growth by increasing the cost of credit.

Goldman’s shares, which initially rose as much as 3.4%, later fell by 1% in New York. Despite this, the stock has gained 34% this year, outperforming other major U.S. banks and reaching an all-time high.

The firm’s investment-banking revenue of $1.87 billion exceeded analysts’ estimates, with merger-advisory fees totaling $875 million. However, fixed-income trading revenue slipped 12% to $2.96 billion.

Goldman also recorded a $415 million hit tied to ending its credit-card partnership with General Motors, part of its exit from smaller consumer ventures. The firm is also trying to unwind its Apple Inc. credit-card business, which could lead to further financial impacts.

Although Goldman's return on equity (ROE) came in at 10.4%, it remains below its mid-teens target. The bank's asset and wealth management division posted revenue of $3.75 billion, a 16% increase from the previous year.

Despite challenges in certain areas, analysts see Goldman as well-positioned for the future, especially with expected rate cuts and strong capital markets conditions potentially boosting its performance further.

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