Investing.com– TSMC (TW:2330) (NYSE:TSM), the world’s biggest contract chipmaker, clocked a sharp year-on-year increase in revenue through November on strong AI-fueled demand, although revenue still slowed from the prior month.
TSMC’s net revenue rose 34% to T$276.06 billion ($8.52 billion) from T$206.03 billion last year.
But revenue fell 12.2% from October’s reading of T$314.24 billion. Year-to-date revenue growth still remained upbeat at 31.8%, increasing slightly from the prior month.
TSMC has seen an exponential jump in revenue over the past year on increasing demand from the fast-growing artificial intelligence industry. But investors have questioned just how long this growth can be sustained, given that data centre building and demand for new chips is expected to slow eventually.
TSMC is a key supplier to AI major NVIDIA Corporation (NASDAQ:NVDA), and recently said it expects demand to remain robust going into 2025.