Global microchip manufacturing leader Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) saw a 34% year-on-year increase in net revenues in November and a 32% increase between January and November.
Sales equated to approximately £6.7 billion (US$8.5 million) in November and more than £63 billion (US$80 billion) in the January-November period.
As the preeminent manufacturer of artificial intelligence chips designed by Nvidia Corp, Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD), Apple Inc (NASDAQ:AAPL, ETR:APC) and others, TSMC’s revenues provide a good bellwether for global demand.
These sales results suggest that demand for high-end chips has continued following the initial AI boom in 2022-2023.
Reflecting this steady demand, TSMC shares are currently up 80% year to date. The company currently has a market valuation of £667 billion (US$523 billion).