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
Donald Trump, the Republican presidential candidate, has reignited his stance on South Korea’s financial contribution to host US troops, stating that South Korea should pay significantly more if he returns to the White House. He described the nation as a "money machine" and claimed that they would willingly pay US$10 billion annually to keep US military forces stationed there.
Trump's remarks come shortly after a new five-year cost-sharing agreement was reached between the US and South Korea, where Seoul agreed to raise its contribution to 1.52 trillion won (US$1.13 billion) by 2026. This deal increases South Korea’s payment by 8.3% compared to this year.
During his presidency, Trump pushed for South Korea to contribute US$5 billion, far higher than the US$1 billion previously agreed upon. He has consistently criticized US allies for not spending enough on defense arrangements and emphasized that North Korea's nuclear capabilities justify higher payments from South Korea.
Trump, who boasts of a “very good relationship” with North Korean leader Kim Jong Un, reiterated his belief that South Korea should bear a greater financial burden for US military presence, which has long been a point of contention.
The US-South Korea cost-sharing deal reflects annual increases tied to inflation, with a cap of 5% for the four years after 2026.
As US voters head to the polls in a tight race against Democratic Vice President Kamala Harris, Trump’s foreign policy rhetoric remains a critical aspect of his campaign. Harris, if elected, is expected to largely continue the current trajectory of US-South Korea defense relations.
source: theedgemalaysia
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