TSMC Reports 45% YoY Revenue Jump in July, Lifts Capex Outlook
Taiwan Semiconductor Manufacturing Co. saw July revenue climb 45% year-over-year to $14.5 billion, driven by strong AI chip demand. The company also raised its 2026 capital expenditure guidance to a record $60–64 billion.
Taiwan Semiconductor Manufacturing Co. ($TSM) recorded a 45% year-over-year increase in July revenue, reaching $14.5 billion, fueled by surging demand for artificial intelligence chips. For the first seven months of 2024, total revenue hit $89.1 billion, up 37% compared to the same period last year.
The chipmaker now expects 2026 capital expenditures in a record range of $60 billion to $64 billion, reflecting its confidence in sustained AI-driven growth. Full-year revenue is forecast to rise slightly above 40% year-over-year, while current-quarter estimates point to a 47% sales increase.
Shares of TSMC listed in Taiwan have gained 50% year-to-date, more than double the roughly 20% advance in Nvidia ($NVDA) stock. With companies like Nvidia and Apple ($AAPL) relying on TSMC for advanced chips, AI demand continues to show no signs of slowing.
Source: The Kobeissi Letter