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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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Key Corporate Updates from Malaysia

 


  1. AirAsia X Bhd (AAX): Shareholders approved the RM6.8 billion acquisition of AirAsia Bhd and AirAsia Aviation Group Ltd from Capital A Bhd. AAX also received approval for free warrants, private placement, and other financial adjustments, with the acquisition expected to be completed by the end of 2024.

  2. Crescendo Corp Bhd: The company is acquiring SGR Land Development Sdn Bhd for RM168.85 million, securing land in Johor for industrial development, with access to key infrastructure like the Second Link to Singapore and Senai International Airport.

  3. Infoline Tec Group Bhd & Pappajack Bhd: Both companies received approval from the Securities Commission Malaysia to transfer their listings from the ACE Market to the Main Market of Bursa Malaysia, after meeting requirements, including the Bumiputera equity requirement.

  4. Fajarbaru Builder Group Bhd: Secured a RM246.09 million contract for the second phase of the AdisonWest development in Johor Bahru, involving the construction of 896 serviced apartment units and related facilities.

  5. Econpile Holdings Bhd: Awarded a RM35.11 million contract for piling, earthworks, and sub-structure works for an apartment project in Kuala Lumpur, involving the construction of two 57-storey apartment blocks.

  6. LFE Corp Bhd: Won a RM38.8 million subcontract from Gamuda Bhd for the construction of a data centre at Elmina Business Park in Sungai Buloh.

  7. Aizo Group Bhd: Signed an MOU with NetRunner Sdn Bhd to establish a Tier 4 data centre hub in Sarawak, marking the group's entry into the data centre industry.

  8. Radiant Globaltech Bhd: Secured a RM25 million contract for a hardware technical refresh project from a utility company. The contract will be carried out by its subsidiaries Radiant Global ADC Sdn Bhd and Grand-Flo Spritvest Sdn Bhd.

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