TSMC Taiwan Semiconductor sees October revenue surge, boosted by AI chip demand
Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) (TSMC) on Monday announced that its revenue in October rose 16.9% year over year to T$367.47 billion (US$11.86 billion), a new monthly record for the company, while also improving 11% from September.
The results, though, marked the slowest pace of growth for TSMC since February 2024.
The world’s largest contract chipmaker also raised its revenue growth forecast for the full year to the mid-30% range, up from about 30% previously.
Last week, Nvidia CEO Jensen Huang said he had requested additional chip supplies from TSMC, pointing to persistent strength in demand for the company’s AI processors.
TSMC is also a key semiconductor supplier for Advanced Micro Devices, Qualcomm, and Apple Inc.
Taiwan Semiconductor shares gained 2% in midday trading on the NYSE on Monday.
Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF) has begun a strategic review aimed at unlocking what it describes as the “full value” of its portfolio, following approaches from potential buyers and partners, and amid a shifting digital advertising landscape.
The London-listed internet company, which connects businesses to domains, consumers and advertisers, said it is exploring divestments or partnerships across most of its operations. The review, however, will not include a sale of the entire group.
The company said its Domains, Identity & Software (DIS) arm is furthest along in talks, with a top-tier financial adviser appointed to assess options, including a sale.
Team Internet’s board said the segment’s strong growth and margins mean it could alone be valued above the firm’s current market capitalisation.
Chief executive Michael Riedl said the review was the “logical next step” after a year of assessing asset ownership.
He said,
Each of our businesses operates in structurally attractive markets, and we believe the sum of their parts is worth considerably more than the group’s current market valuation,
The move follows rapid changes in Google’s advertising ecosystem, which have disrupted Team Internet’s Search segment.
Google has ended its AdSense for Domains product earlier than expected and introduced new policies, known as Restricted Access Features (RAF) and Referrer Ad Creative (RAC), that have slowed the rollout of Google’s Related Search on Content (RSOC) service.
While this has dampened near-term growth, Team Internet said RSOC revenue has surged more than 200% since the first half of the year, demonstrating the strength of its technology and partnerships.
The group now plans to accelerate its direct-to-advertiser and commerce media operations and broaden relationships with alternative advertising providers.
Given these changes, the Search division will likely be classified as “held for sale” as part of the review.
The company’s Comparison segment, which faced headwinds earlier this year, is showing signs of improvement as international operations return to profitability and expand their share of sales.
For 2025, Team Internet expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between $40 million and $45 million, down from $92 million in 2024.
The DIS division is forecast to contribute around $21 million to $22 million, the Comparison segment $11 million to $13 million, and Search $8 million to $10 million, reflecting the structural transition in online advertising.
From 2026 onwards, the group expects to resume double-digit earnings growth driven by a recovery in Comparison, ongoing strength in DIS, and new revenue opportunities in Search.
Riedl added that the company remains,
Highly profitable and cash-generative and that any steps resulting from the review would streamline the Group and create significant optionality with regards to capital allocation.
READ the latest news shaping the AI Chips market at AI Chips News
TSMC Taiwan Semiconductor sees October revenue surge, boosted by AI chip demand, source
Add comment