TSMC Q4: AI Ramps, Margins Hit New Highs

Advanced nodes and HPC demand drive profitability, but capex and concentration risks remain

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Estimated reading time: 6 minutes

TSMC delivered another strong quarter, driven by accelerating demand for advanced nodes and AI-related workloads.

Margins expanded sharply. Cash flow remained strong.

But the story is not without trade-offs.

The key question: can TSMC sustain peak margins while maintaining heavy investment in next-genera…