TSMC's third-quarter profit exceeded expectations and maintained rapid growth amid growing concerns about the long-term prospects for artificial intelligence infrastructure construction. The key global chip manufacturer said net profit increased 69% to NT$763.1 billion, higher than analysts' average expectations. Previously, the company announced a 51% increase in sales for the quarter to reach 47 billion US dollars, which also exceeded expectations. As the exclusive producer of the most advanced semiconductors from Nvidia and Apple, TSMC's strong performance contrasts sharply with the market's growing pessimism about AI stocks. Downstream to TSMC, concerns about return on investment and long-term financing are impacting companies such as cloud computing service provider and Nvidia customer CoreWeave. CoreWeave's stock and bond prices both plummeted on Wednesday. TSMC's revenue growth has accelerated in the past two quarters, and has stepped up efforts to expand production capacity. The company said capital expenditure will reach up to 64 billion US dollars this year, a record high.

TSMC's profit for the third quarter exceeded expectations and maintained rapid growth at a time when concerns about the long-term prospects for artificial intelligence infrastructure construction are increasingly raised. The key global chip manufacturer said net profit increased 69% to NT$763.1 billion, higher than analysts' average expectations. Previously, the company announced a 51% increase in sales for the quarter to reach 47 billion US dollars, which also exceeded expectations. As the exclusive producer of the most advanced semiconductors from Nvidia and Apple, TSMC's strong performance contrasts sharply with the market's growing pessimism about AI stocks. Downstream to TSMC, concerns about return on investment and long-term financing are impacting companies such as cloud computing service provider and Nvidia customer CoreWeave. CoreWeave's stock and bond prices both plummeted on Wednesday. TSMC's revenue growth has accelerated in the past two quarters, and has stepped up its production capacity expansion efforts. The company said capital expenditure will reach up to 64 billion US dollars this year, a record high.