00:02You're listening to AI Prism from Seoul Economic Daily.
00:35It's Friday, October 16th. Here's why global investors are paying attention to Korea today.
00:42Global capital is repricing risk across three fronts at once.
00:46AI infrastructure investment, U.S. monetary policy, and currency safety nets in Asia.
00:53Taiwan's TSMC sits at the center of the chip supply chain that powers both NVIDIA's AI build-out and the
01:00broader risk on trade in equities.
01:03Meanwhile, U.S. inflation data is testing how long the Federal Reserve can hold off on cutting rates,
01:09and that call ripples straight into emerging market currencies like the yuan.
01:13Here's what the numbers show.
01:14TSMC posted a 68.7% jump in third-quarter net profit to $763 billion, about $31.8 billion,
01:27beating analysts' forecasts by roughly 2.2% on surging AI chip orders from customers like NVIDIA.
01:35High-performance computing now makes up 68% of TSMC's revenue, up 11 percentage points from a year earlier.
01:42Gross margin came in at 66.4%, up 6.9 points year-on-year, but down 1.3 points from
01:51the prior quarter
01:52as the company absorbs the cost of ramping its new 2-nanometer process.
01:57TSMC raised its 2026 capital spending plan to as much as $64 billion to keep pace with AI chip demand.
02:05U.S. consumer prices rose 3.7% year-on-year in September, above the 3.6% economists expected,
02:14and the surprise triggered a broad tech stock sell-off.
02:18Elon Musk, Michael Dell, and Mark Zuckerberg together lost more than $50 billion in net worth in a single day
02:26as tech shares fell.
02:27Korea and Japan extended their $10 billion currency swap agreement by three years,
02:34keeping it active through November 2029 as a backstop against won volatility.
02:39Le Pen proposed cutting France's EU budget contribution by 11 billion euros, about 17 trillion won, in 2027 alone,
02:49a plan that would need unanimous approval from the other 26 member states.
02:53So, what does this mean for global investors?
02:56Earlier, we said TSMC's profit jumped 69% on AI chip demand.
03:02Here's what that actually means for you.
03:04Korea's own chip makers sit inside that same supply chain,
03:08so every AI CapEx headline out of Taiwan now moves sentiment toward Korean tech shares too.
03:15With the won backstop by the extended Korea-Japan swap line through 2029,
03:20currency risk looks like less of a reason to sit out Korean equities than renewed U.S. rate uncertainty does.
03:28NVIDIA's next earnings report, due in late November, will show whether AI chip demand holds.
03:34The next U.S. CPI print, in mid-November, will shape whether the Fed's rate path shifts.
03:40And watch whether the Korea-Japan swap renewal gets a formal follow-up finance minister's meeting date.
03:46That's today's AI Prism, Global Investors.
03:50This episode was produced with AI assistance based on Seoul Economic Daily reporting and reviewed by a human editor.
03:57AI Prism is a Juan Ifra award-winning series.
04:01We'll be back tomorrow.
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