On November 8, TSMC reported its October revenue figures, capturing significant market attention. The company's official statement revealed a revenue of 314.24 billion New Taiwan dollars, approximately 97.91 billion USD for October. This marks a 24.8% increase from September's 251.873 billion and a 29.2% year-on-year rise compared to October last year's 243.203 billion.
TSMC's consistent monthly revenue growth over the past ten months underscores the robust demand from key clients like Apple and Nvidia. This growth is likely driven by the launches of Apple's iPhone 16 and new Mac products, alongside strong demand for Nvidia’s advanced chips. While TSMC did not detail specific reasons for the revenue surge, industry analysts suggest these product launches play a pivotal role.
In a related development, TSMC and other chip manufacturers such as GlobalFoundries are on the brink of receiving significant subsidies under the US CHIPS Act. The US Department of Commerce has notified Congress that at least three companies, including TSMC, are set to obtain final subsidies. Though the timeline and specific amounts remain uncertain, initial agreements hint at substantial financial support.
TSMC is poised to receive up to $6.6 billion in grants and $5 billion in special loans to support the construction of three semiconductor manufacturing plants in Phoenix, Arizona. These facilities are anticipated to advance the production of cutting-edge chips.
The Biden administration is striving to disburse these subsidy funds as part of its economic vision to bolster domestic chip manufacturing, a cornerstone of Biden’s policy objectives. These developments highlight TSMC's crucial role in addressing global demand for advanced semiconductors and its strategic partnerships in the US.