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
The United States, alongside South Korea, Japan, and eight other nations, launched a new initiative to monitor North Korea’s nuclear weapons development. This plan follows the dissolution of a UN panel of experts earlier this year, after Russia's veto prevented the continuation of international monitoring.
The newly formed Multilateral Sanctions Monitoring Team includes Australia, Canada, France, Germany, Italy, the Netherlands, New Zealand, and the UK, along with the US, South Korea, and Japan. Its goal is to ensure the full implementation of UN sanctions on North Korea by rigorously investigating and publishing findings on sanctions violations and attempts to evade them.
This announcement comes amidst rising tensions on the Korean peninsula, with North Korea recently destroying roads connecting to the South and Kim Jong Un ramping up threats against South Korea. Kim has claimed the right to "annihilate" the South, intensifying hostilities between the nations.
Deputy Secretary of State Kurt Campbell emphasized that the new coalition could surpass the work of the former UN panel, stating that Russia's opposition had prevented the continuation of the previous monitoring regime.
North Korea, under Kim Jong Un, has defied UN Security Council resolutions aimed at halting its nuclear weapons development. Despite sanctions, Pyongyang continues to advance its nuclear warheads and missile programs, deepening ties with Russia. Washington and Seoul have accused North Korea of supporting Russia’s war in Ukraine by supplying ammunition, a charge North Korea denies.
In a recent escalation, North Korea unveiled images of a facility to enrich uranium for atomic bombs, signaling continued defiance of international efforts to halt its nuclear ambitions.
source: theedgemalaysia
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