TSMC(US:TSM) 财联社·2025-10-16 08:08Core Viewpoint - TSMC's Q3 financial results exceeded market expectations, boosting optimism regarding the increasing demand for AI chips [2][3]. Financial Performance - TSMC reported Q3 revenue of NT$989.92 billion, a year-on-year increase of 30.3%, and a net profit of NT$452.3 billion, marking a record high with a year-on-year growth of 39.1% [2]. - In USD terms, TSMC's Q3 revenue was $33.1 billion, surpassing the market expectation of $31.6 billion [2]. - For Q4, TSMC projects sales between $32.2 billion and $33.4 billion, exceeding market estimates of $31.23 billion, with a gross margin forecast of 59% to 61% [3]. AI Demand and Market Outlook - TSMC's management expressed strong confidence in the AI market, noting that demand is even stronger than anticipated three months ago [4]. - Analysts have raised their earnings and revenue forecasts for TSMC due to the increasing demand for high-performance computing chips driven by AI investments [5]. Expansion Plans - TSMC is preparing to build multiple 2nm wafer fabs in Taiwan, with mass production expected to begin in late Q4 [5]. - The company is also expanding its second wafer fab in Japan and accelerating capacity expansion at its Arizona facility in the U.S. [5]. Industry Trends - TSMC's performance is seen as a bellwether for AI chip demand, indicating a strong trend in the semiconductor manufacturing industry [5]. - Samsung Electronics also reported better-than-expected results, with an 8.7% year-on-year sales increase and a 31.8% rise in operating profit, suggesting that the semiconductor market has entered a super cycle [5].