TSMC's Growth Cools But AI Keeps It Hot

Taiwan Semiconductor Manufacturing TSM just posted another strong month, though the breakneck pace of growth is finally easing a bit. The world's biggest chipmaker said October revenue rose 16.9% year over year to NT$367.47 billion still solid, but slower than September's eye-popping 39.6% surge. Month over month, sales were up 11%, and TSMC's revenue for the first 10 months of 2025 is now running almost 34% higher than last year.

The company, which makes chips for Apple AAPL, Nvidia NVDA, and AMD AMD, continues to ride the AI wave that's powering the semiconductor industry. TSMC has already raised its full-year outlook to the mid-30% growth range after topping Q3 expectations. But CEO C.C. Wei has been quick to temper the excitement, pointing to tariff uncertainty and shifting global trade conditions as possible bumps in the road.

Still, demand looks relentless. Nvidia CEO Jensen Huang even said he's asking TSMC for extra chip supplies to meet booming AI orders. Investors will be eyeing November data to see whether that momentum keeps rolling into year-end.