TSMC Soars to New Heights on AI Chip Frenzy

TSMC’s shares hit a record T$1,085 on Oct 18, 2024, fueled by a stellar Q3 profit surge of 54% to T$300.1B ($9.33B) and a bold 30% revenue forecast for the year. With AI chips now 15% of sales and customers like Apple and Nvidia cheering, TSMC’s market cap rockets to $884B, making it Asia’s crown jewel. Plans for a $65B US factory expansion hint at unstoppable growth, despite a cheeky US probe over Huawei ties. Meanwhile, Taiwan’s TAIEX climbs 1.88%, proving chips really are the new gold.