Driven by sustained demand for artificial intelligence-related products, Taiwan Semiconductor Manufacturing (TSM) saw a month-on-month decline but maintained strong year-on-year growth in November revenue.
On December 10, TSM's official website reported November sales of NT$343.61 billion, up 24.5% year-on-year but down 6.5% from October. Cumulative revenue for the first 11 months reached NT$3.47 trillion, a significant 32.8% increase compared to the same period last year.
Based on the company's fourth-quarter financial forecast, TSM has already achieved nearly 70% of its revenue target in the first two months. Full-quarter revenue is expected to range between NT$985.3 billion and NT$1.02 trillion, indicating that meeting the target is almost certain.
TSM's CEO, C.C. Wei, previously stated that advanced process capacity is "not enough, not enough, still not enough." He revealed that, based on major clients' product roadmaps and growth projections, current capacity falls short by about three times. Wei even joked about wearing a "No More Wafer" T-shirt on stage, highlighting overwhelming demand for semiconductor wafers.
Wei projected that AI accelerator revenue from 2024 to 2029 would grow at a higher compound annual growth rate (CAGR) than the previously estimated 44%–46%, with updated figures to be released early next year. The company expects strong advanced process demand to continue benefiting fourth-quarter operations. Recent AI market developments remain highly positive, with robust customer outlooks reinforcing TSM's confidence in the AI megatrend.
Both front-end and back-end AI-related capacity at TSM remain extremely tight. The company is actively working to expand production capacity by 2026 to gradually narrow the supply-demand gap. Wei emphasized that fundamental semiconductor demand remains strong, and TSM is committed to achieving record-high annual operations.
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