Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Philippine GDP Growth Slows to 2.3% in Q2 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
UK Services PMI Returns to Growth in July as New Orders and Confidence Rebound 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
TSMC's Q3 Profit Exceeds Expectations Amid Strong AI Demand
Taiwan Semiconductor Manufacturing Company (TSMC) the world’s largest contract chipmaker, posted stronger-than-expected earnings for the third quarter, driven by booming demand for its advanced chips from the artificial intelligence (AI) sector.
Record Q3 Profit Surpasses Estimates
TSMC reported a net profit\ of T$325.26 billion ($10.1 billion) for the quarter ending September 30, surpassing Reuters' estimate of T$300.2 billion. Revenue reached T$759.69 billion, marking a 39% year-on-year increase, thanks to rising sales of its cutting-edge 3-nanometer chips, which contributed 20% to total wafer revenue.
AI Demand Offsets Weak Consumer Electronics Sector
While demand for AI chips surged\, the company faced a 19% quarter-on-quarter drop in revenue from its digital consumer electronics sector, which includes chips for devices like smart TVs and cameras. However, this decline was largely offset by the growth in its high-performance computing (HPC) unit, which serves as a key driver for AI applications.
Key Clients and Industry Trends
TSMC’s major clients include tech giants such as Apple Inc. and NVIDIA Corporation, with the latter being a major buyer of AI chips. The company's robust earnings come amid a broader industry shift, highlighted by a weaker outlook from semiconductor equipment maker ASML, which cited slowing demand in non-AI sectors.
TSMC continues to play a pivotal role in the global chip supply chain, benefiting significantly from the ongoing AI boom.
