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TSMC Sees Record 2024 Revenue, Downplays U.S. Export Controls
TaiwanPlus News
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1/16/2025
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.
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The world's largest chipmaker has reported record earnings for its last quarter of 2024,
00:05
making it the company's biggest year yet. At its earnings conference here in Taipei,
00:10
TSMC reported fourth-quarter revenue of nearly 27 billion U.S. dollars, a nearly 39 percent
00:16
increase over the same period last year, while net income increased nearly 60 percent.
00:21
2024 was eventful for Taiwan's largest company, which saw big progress on its expansion in
00:26
countries like the U.S. and Japan. It's responsible for producing more than 90 percent of the world's
00:32
most advanced chips. And TSMC says that chips for high-performance computing,
00:36
driven largely by AI, was by far its biggest area of growth last year.
00:41
But there have also been hiccups. The company was found to have violated U.S. export controls
00:45
when its chips were found in a processor made by Chinese tech company Huawei.
00:50
And overnight, the U.S. announced a fresh round of regulations,
00:53
which many believe are aimed at preventing such incidents from happening again.
00:57
However, Chairman and CEO C.C. Wei said they do not expect the controls to significantly
01:02
impact their operations. Wei also responded to news that Taiwan appears to have lifted
01:07
restrictions on its most advanced two-nanometer production outside of Taiwan, perhaps allowing
01:13
production at its Arizona fab, and whether the next advancement in chips might premiere
01:17
in its overseas facilities.
01:42
The company is dealing with both record growth and political uncertainty,
01:46
but it's optimistic that its winning streak can continue.
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