TSMC reports record quarterly revenue and raises capital spending plans

Taiwan Semiconductor Manufacturing Company reported its third-quarter 2026 results on October 15, beating its own revenue targets. The chipmaker earned $46.72 billion in revenue, up 51% from the same period last year. Net profit rose 68% to $23.59 billion, the highest quarterly profit in the company's history. This was also its sixth quarter in a row to set a profit record. TSMC makes chips for major technology companies, including Nvidia and Apple, and strong demand for artificial intelligence chips drove the growth. For the next quarter, the company expects revenue between $52.3 billion and $54.3 billion. It also raised its spending plans for the year to up to $64 billion, to build more capacity for advanced chip production.