TSMC Reports Record 2024 Revenue with 33.9% Growth Driven by AI Demand

The world's largest chipmaker surpasses forecasts as demand for advanced AI semiconductors fuels its expansion.

Taiwan Semiconductor Manufacturing Company (TSMC) posted 2024 revenue of NT$2.9 trillion ($87.8 billion), a 33.9% increase year-on-year and its highest annual sales since going public in 1994.
The company exceeded its October forecast of nearly 30% growth, reflecting sustained demand for AI chips from major clients like Nvidia, Apple, Microsoft, and Amazon.
Fourth-quarter revenue reached NT$868.5 billion ($26.3 billion), beating market estimates of NT$853.57 billion by 1.8%.
TSMC's advanced 3-nanometer and 5-nanometer chip manufacturing processes have consistently operated at over 100% capacity utilization, driven by AI-related applications.
Geopolitical tensions and supply chain vulnerabilities have led TSMC to expand overseas, including new facilities in the U.S. and Japan, with U.S. government support of up to $6.6 billion for Arizona-based projects.