Taiwan Semiconductor Manufacturing Co.’s quarterly sales topped estimates, reinforcing investor hopes that the torrid pace of AI hardware spending will extend into 2025.

Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates as the company continues to get a boost from the AI boom. TSMC manufacturers semiconductors for some of the world's biggest companies from Apple to Nvidia.

TSMC agreed to expand its planned investment by US$25 billion to US$65 billion and to add a third Arizona fab by 2030.

Taiwan Semiconductor Manufacturing Co. (TSMC) has started producing advanced 4-nanometer chips in Arizona, marking a milestone in the Biden administrations semiconductor strategy. U.S. Commerce Secretary Gina

Net revenue rose 33.9 percent to NT$2.9 trillion ($87.8 billion), the company said in a statement, ahead of the release of its complete earnings report next week.