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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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Miriam Adelson Spends US$95M to Boost Trump in Key Battleground States

Billionaire Miriam Adelson has contributed US$95 million to the Preserve America PAC supporting Donald Trump, according to the latest Federal Election Commission disclosures. This donation surpasses the US$75 million that she and her late husband, Sheldon Adelson, gave during the 2020 election cycle. Adelson’s financial backing places her among the largest Republican donors supporting Trump in the 2024 presidential race.

Preserve America has focused its advertising efforts on the critical battleground states of Michigan and Wisconsin, which Trump won in 2016 but lost in 2020. With just US$7.4 million remaining in the PAC’s bank, the bulk of Adelson’s funds have been used for these targeted efforts.

Trump's fundraising lags behind that of Vice President Kamala Harris, whose campaign has outspent Trump’s by a significant margin, including US$314 million in media buys compared to US$173 million for Trump in the battleground states since Labor Day. Harris has also been able to open 330 field offices, staffed with over 2,000 employees, aimed at voter mobilization.

While Trump’s campaign has outsourced much of its get-out-the-vote efforts to super PACs like Preserve America, Harris holds a financial edge, which could prove decisive as polls remain tight, with Trump holding just a 0.7% lead in the average of battleground state polls.

Adelson's support comes as other Republican donors have contributed significantly less to Preserve America this cycle, with just US$85,402 from others. Adelson previously stayed neutral during the primaries but began backing Trump after he secured the Republican nomination.


source: theedgemalaysia

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