Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) (TSMC) on Monday announced that its revenue in October rose 16.9% year over year to T$367.47 billion (US$11.86 billion), a new monthly record for the company, while also improving 11% from September.
The results, though, marked the slowest pace of growth for TSMC since February 2024.
The world's largest contract chipmaker also raised its revenue growth forecast for the full year to the mid-30% range, up from about 30% previously.
Last week, Nvidia CEO Jensen Huang said he had requested additional chip supplies from TSMC, pointing to persistent strength in demand for the company’s AI processors.
TSMC is also a key semiconductor supplier for Advanced Micro Devices, Qualcomm, and Apple Inc.
Taiwan Semiconductor shares gained 2% in midday trading on the NYSE on Monday.