Taiwan Semiconductor Manufacturing Stock Is Up Over 5% - What's Going On?

Taiwan Semiconductor Manufacturing Company TSM shares are trading higher in the morning session on Friday. 

Today, the company said in a regulatory filing that revenue for February 2024 was approximately NT$181.65 billion, an increase of 11.3% year-over-year.

February revenues, however, decreased 15.8% from January 2024.

Revenue for January through February 2024 totaled NT$397.43 billion, an increase of 9.4% compared to the same period last year.

The company recently grabbed headlines, together with peer semiconductor companies, facing increasing risks of water shortages as they progress to more advanced processing technologies.

TSMC has made a significant leap in its global expansion by opening its first chip plant in Japan in Kumamoto, a move aimed at diversifying supply chains amid escalating U.S.-China trade tensions. 

Beyond Japan, TSMC is extending its international presence with a $40 billion investment in Arizona, U.S., planning two manufacturing plants to meet the American demand for semiconductors.

The quarterly results of the chip designers bear testimony to the fact that the artificial intelligence frenzy is in no hurry to cool down as U.S. Big Techs keep splurging on their AI ambitions.

Read Next: Powerchip Semiconductor Takes on Taiwan Semi With Ambitious Japan Plant Amid Engineer Shortage

Price Action: TSM shares are trading higher by 5.13% to $156.86 on the last check Friday.

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