TAIPEI (Taiwan News) — TSMC reported Monday a record October revenue of NT$367.47 billion (US$11.86 billion), up 11% from September and 16.9% year-on-year.

Cumulative revenue for the first 10 months reached NT$3.13 trillion, a 33.8% increase from NT$2.34 trillion over the same period last year, per CNA.

TSMC projected fourth-quarter revenue between NT$996.85 billion and NT$1.03 trillion, implying about a 1% quarter-on-quarter decline at the midpoint, per TechNews. November and December monthly revenue is expected to range from NT$309 billion to NT$327.3 billion.

Robust AI-related demand is fueling growth, while non-AI end markets are showing moderate recovery, which TSMC says should lift full-year US-dollar revenue growth to nearly 35%.

The company said surging compute needs — particularly for large language models — are driving demand for advanced semiconductors. This includes AI GPUs and specialized chips for data-center training.

TSMC expects annual revenue growth for AI accelerators from 2024 to 2029 to exceed its prior 45% estimate, positioning AI as the main driver of future operations.