Expects Q4 revenue of 26.1 bln26.9 bln
Sees 2024 capex at slightly higher than 30 bln
Q3 profit is a record T325.3 bln market forecast T300.2 bln
Q3 revenue jumps, beats market expectations
Share price has soared on strong AIrelated demand

TAIPEI, Oct 17 Reuters TSMC, the world39;s largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecastbeating 54 jump in quarterly profit driven by soaring demand for chips used in artificial intelligence AI.

Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in AI applications whose customers include Apple and Nvidia, has benefited from a surge towards AI across a spectrum of industries.

TSMC estimated its capital spending in the current quarter would more than double to around 11.5 billion and that the budget was likely to increase further next year, as it expects healthy demand for its products.

It said 2024 fullyear revenue will grow close to 30 in U.S. dollar terms, compared to a previous guidance of slightly above the mid20 range.

TSMC said revenue from AI processors is set to account for midteens percentage of its overall revenue this year.

The demand is real, Chairman and CEO C.C. Wei told an earnings call, referring to AI and adding it would last for many years.

The company39;s robust performance and outlook underscore the continued strong demand for AI, after some industry watchers raised doubts following a lower than expected 2025 sales…