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TSMC Posts Record Profit, Projects Strong Growth Amid AI Surge

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Taiwan Semiconductor Manufacturing Co. (TSMC) has reported a record quarterly profit, signaling robust demand for chips, particularly those used in artificial intelligence (AI) processing. The world’s largest contract chipmaker posted a 57% increase in net income, reaching T$374.68 billion ($11.4 billion) for the quarter ending December 31, 2024. This performance matched analyst expectations, with revenue climbing 39% year-on-year.

Looking ahead, TSMC is projecting significant revenue growth in the first quarter of 2025, with a forecast of approximately 37% growth, bringing in between $25 billion and $25.8 billion. For the full year, the company expects a revenue increase between 20% and 30%, driven by strong AI demand.

Despite a thriving business, TSMC faces challenges from U.S. technology restrictions targeting China. The Biden administration’s recent announcement of tighter controls on AI chip exports has raised concerns, although TSMC’s CEO, C.C. Wei, expressed confidence that these restrictions would be manageable. Wei noted that the company is applying for special permits for clients affected by these curbs and is optimistic about securing approval.

TSMC is also expanding its global footprint with ongoing construction of new fabrication plants (fabs) in the U.S., Japan, Germany, and Taiwan. The company expects its capital expenditure for 2025 to reach between $38 billion and $42 billion, a potential increase of 41%.

The AI boom has significantly boosted TSMC’s stock, making it Asia’s most valuable company. Its stock price surged 81% last year, outperforming the broader market, which saw a 28.5% gain. On Thursday, ahead of the earnings call, TSMC’s shares rose by 3.8%.

 

E-commerce Startup Rokt Valued at $3.5 Billion Following $335 Million Secondary Offering

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E-commerce technology firm Rokt has reached a valuation of $3.5 billion after securing $335 million in a secondary share offering. The offering was backed by prominent investors, including Tiger Global Management, Square Peg, Australia’s Barrenjoey, and SecondQuarter, with some of Rokt’s board members also participating in the deal.

Founded in 2012 in Australia, Rokt leverages artificial intelligence and machine learning to enhance the e-commerce experience by analyzing online shoppers’ behaviors and interactions with products. The company’s valuation had previously been $2.4 billion at the close of 2022, marking significant growth over the past year.

CEO and co-founder Bruce Buchanan expressed pride in the company’s progress, citing a remarkable 43% year-over-year revenue growth, which reached $600 million. Rokt has expanded globally, operating in approximately 15 markets across North America, Europe, and the Asia-Pacific region. Its clientele includes major companies like Uber, Macy’s, Live Nation, and AMC Theatres.

In a separate development, Rokt also announced a merger with customer data platform mParticle in a $300 million deal, further enhancing its growth trajectory.

TSMC Reports Record Quarterly Profit, Expects Strong Growth in Early 2025

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Taiwan Semiconductor Manufacturing Co (TSMC) has posted a record-breaking quarterly profit, reporting a 57% increase in net income to T$374.68 billion ($11.4 billion) for the quarter ending Dec. 31. This surge in profit aligns with the company’s bullish outlook for the future, as revenue jumped by 39% compared to the same period last year. TSMC has forecasted continued strong performance, with a revenue growth estimate of about 37% for the first quarter of 2025, projecting earnings between $25-25.8 billion. For the full year, TSMC expects revenue growth to be between 20% and 30%, driven largely by the demand for chips used in artificial intelligence (AI) processing.

While TSMC’s business is thriving, it faces challenges stemming from U.S. government restrictions on AI chip exports to China. The Biden administration recently announced further curbs on these exports, which could affect demand from clients. However, TSMC’s CEO, C.C. Wei, expressed confidence that the company could manage these restrictions, stating that they are currently applying for special permits for affected clients and anticipating approval. He also emphasized the company’s strong communication with both the current and incoming U.S. administrations.

TSMC’s growth is also supported by its ambitious expansion plans, including new fabs in the United States, Japan, Germany, and Taiwan. For 2025, TSMC has set its capital spending target between $38 billion and $42 billion, marking a potential 41% increase. The AI-driven boom has significantly boosted TSMC’s stock price, which surged 81% in 2024, outperforming the broader market’s 28.5% growth.