Big Tech
TSMC’s Upbeat Outlook Fuels Hopes for 2025 AI Spending
- Revenue, capex projections surpass analysts’ estimates
- TSMC is one of the biggest beneficiaries of the AI boom
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Taiwan Semiconductor Manufacturing Co. projected quarterly sales and capital expenditure ahead of analysts’ estimates, fueling hopes that spending on AI hardware should remain resilient in 2025.
The main chipmaker to Apple Inc. and Nvidia Corp. foresees spending $38 billion to $42 billion on technology and capacity this year, or up to 19% more than analysts anticipated. It predicted revenue of $25 billion to $25.8 billion in the March quarter, as much as 6% above projections. Shares in TSMC rose the most since October, and the projected spending helped fuel a rally among US and European chip equipment companies including Applied Materials Inc. and ASML Holding NV.