TAIPEI (Taiwan News) — TSMC posted NT$343.6 billion (US$11 billion) in November revenue on Wednesday, marking its third-strongest month on record.

The chipmaker said November sales fell 6.5% from October but still set a company record for the month, per CNA. Revenue of NT$343.614 billion trailed only October’s NT$367.473 billion and April’s NT$349.567 billion in TSMC’s all-time rankings.

TSMC’s revenue for the first 11 months reached NT$3.47 trillion, up 32.8% year-on-year. With October and November totaling NT$711.09 billion, the company appears on track to meet or even beat its Q4 guidance of about NT$1.04 trillion based on an exchange rate of NT$30.6 to the US dollar.

The company says AI demand remains a major tailwind as non-AI markets slowly recover. TSMC Chair C.C. Wei (魏哲家) recently said the company set new highs in revenue and profit this year and predicted that “future years will continue setting new records.”

TSMC said it expects soaring token usage in large language models to drive ever-greater demand for computing power and advanced chips. The company now forecasts AI-accelerator revenue to grow at a compound annual rate above its previous 45% estimate from 2024 to 2029.