TSMC Sees Record 2024 Revenue, Downplays U.S. Export Controls

TaiwanPlus News

Chip giant TSMC reported record-high revenue for 2024, including a massive US$27 billion in the fourth quarter. Chair and CEO C.C. Wei is also downplaying concerns about new U.S. export controls on AI chips.

Transcript

00:00The world's largest chipmaker has reported record earnings for its last quarter of 2024,

00:05making it the company's biggest year yet. At its earnings conference here in Taipei,

00:10TSMC reported fourth-quarter revenue of nearly 27 billion U.S. dollars, a nearly 39 percent

00:16increase over the same period last year, while net income increased nearly 60 percent.

00:212024 was eventful for Taiwan's largest company, which saw big progress on its expansion in

00:26countries like the U.S. and Japan. It's responsible for producing more than 90 percent of the world's

00:32most advanced chips. And TSMC says that chips for high-performance computing,

00:36driven largely by AI, was by far its biggest area of growth last year.

00:41But there have also been hiccups. The company was found to have violated U.S. export controls

00:45when its chips were found in a processor made by Chinese tech company Huawei.

00:50And overnight, the U.S. announced a fresh round of regulations,

00:53which many believe are aimed at preventing such incidents from happening again.

00:57However, Chairman and CEO C.C. Wei said they do not expect the controls to significantly

01:02impact their operations. Wei also responded to news that Taiwan appears to have lifted

01:07restrictions on its most advanced two-nanometer production outside of Taiwan, perhaps allowing

01:13production at its Arizona fab, and whether the next advancement in chips might premiere

01:17in its overseas facilities.

01:42The company is dealing with both record growth and political uncertainty,

01:46but it's optimistic that its winning streak can continue.

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