Apple, Nvidia Supplier TSMC Posts 34% Jump in November Sales | Global News Avenue

TSMC (TSM) reported a 34% year-on-year sales increase in November, indicating demand for it Artificial Intelligence (AI)Focus on chips remains strong.

The company supplies technology giants such as Apple (AAPL) and NVIDIA (NVDA), reported sales of $276.06 billion in November New Taiwan Dollar ($8.48 billion). Still, sales figures were down 12% from October.

However, revenue from January to November increased 32% year-on-year to NT$2.62 trillion.

Sales surge in November after CEO calls demand for AI ‘real’

These numbers are in line with TSMC’s October forecasts optimistic outlookand Chief Executive Officer (CEO) According to a transcript provided by AlphaSense, CC Wei called the demand for artificial intelligence “real” during the third-quarter earnings call.

Technology companies have significantly increased their spending They have invested heavily in artificial intelligence infrastructure this year as they race to meet growing demand for emerging technologies and cloud computing, but investors have been concerned that huge investments may not pay off.

TSMC ranks first in the world in U.S.-listed stocks Largest contract chip manufacturerdown about 1% in premarket trading, but has nearly doubled this year.