TSMC's October revenue jumps 59.7% to a record NT$586.89 billion — its best month ever
The foundry that makes most of the world's AI chips reported its highest monthly revenue on record, up 59.7% from a year ago and 14.7% from September, with ten-month revenue up 43.3%.
📊 Scorecard: our Bullish call on $TSM is a hit so far: from $388.62 to $396.48 at the latest close (+2.0%). Against SOXX the call is right: the stock is 2.1 points ahead of the index.
The News
TSMC, the Taiwanese company that makes the chips inside most of the world's AI systems, just had its best month ever. The foundry — a company that manufactures chips designed by other companies — reported on Tuesday, November 10 that October revenue was NT$586.89 billion, about $17.9 billion, up 59.7% from a year earlier and 14.7% from September's NT$511.86 billion.
It is the highest monthly revenue in TSMC's published tables, which run back to 1999, topping August's previous record of NT$514.81 billion. Revenue for the first ten months of 2026 reached NT$4,485.62 billion, up 43.3% from a year earlier. TSMC shares rose 2.2% on the Taiwan Stock Exchange after the announcement, and its US-listed shares rose in premarket trading.
The print lands against a strong outlook: TSMC guided fourth-quarter revenue of $52.3 billion to $54.3 billion, and its forecast for 2026 growth is about 44% in US dollars. September's year-over-year growth was 54.6%, so October's 59.7% is an acceleration, not a slowdown. The release gives no breakdown by technology node — the size of the transistors on a chip — or by customer, so it does not by itself say how much came from the most advanced chips or which end markets drove it.
For context, TSMC's third-quarter revenue was $46.72 billion, up 41.2% from a year earlier in US dollars, with diluted earnings per share of NT$29.43 (US$4.60 per ADR unit) — profit per share, the simplest measure of how much a company earns for each share. October's NT$586.89 billion, about $17.9 billion, is about 15% above the third quarter's average monthly revenue of about $15.6 billion, and essentially in line with the fourth-quarter guide's monthly pace of about $17.8 billion, which is why the print matters: it is not a one-off spike on a weak base, it is the foundry's biggest month ever, on top of a strong quarter.
TSMC just printed its best month ever — October revenue up 59.7%, and still accelerating.
Why It Matters
TSMC is the foundry that feeds the AI build-out: it makes the chips Nvidia, AMD, Apple and Broadcom design. When its revenue jumps nearly 60% in a month, it is not a single company's story — it is a reading on the whole industry's order book. October's acceleration, on top of September's already-strong 54.6%, is consistent with demand for AI hardware still speeding up, not levelling off — though the release gives no breakdown by customer or end market, so that read-through is not proof.
The timing matters too. The print arrived the day after Nvidia fell 4.27% on Monday, November 9, on its probe news, and it is the fundamental counterweight to that sell-off: whatever happens to one chief executive, the factory making the industry's chips just had its biggest month ever. For investors worried that the AI boom is cooling, this is the number that says otherwise.
The one thing the release does not tell us is the mix. Without a breakdown by technology node or customer, we cannot say how much of October's growth came from the most advanced chips, or whether it was driven by AI, smartphones or something else. That matters because the most advanced chips carry the highest prices — but with ten-month revenue up 43.3% and the fourth-quarter guide intact, the mix question is a detail, not a doubt.
Analyst's Take
Our call is Bullish. A record month, an acceleration from September, and ten-month revenue up 43.3% — just below the roughly 44% full-year growth TSMC forecast in US dollars, so the fourth quarter still has to deliver, but October's pace is right on that guide. The lack of a breakdown by customer or chip type is the only soft spot: we cannot say exactly which products drove the month. But the direction is unmistakable.
What to watch: whether the strength carries into November, and what TSMC says about capacity — whether it can make enough of the most advanced chips to keep up with orders. If November holds near October's level, the fourth-quarter guide of $52.3 billion to $54.3 billion starts to look conservative.
Are you bullish or bearish on this story?
By The Numbers
FAQ
What is a foundry?
A foundry is a company that manufactures chips designed by other companies. TSMC makes the chips that Nvidia, AMD, Apple and Broadcom design — it does not sell its own branded chips to consumers.
How big was October compared with the old record?
October revenue of NT$586.89 billion topped August's previous record of NT$514.81 billion by about NT$72 billion. It is the highest monthly revenue in TSMC's published tables, which run back to 1999.
What does this say about AI demand?
TSMC makes the chips inside most of the world's AI systems, so its revenue is a reading on the whole industry's order book. October's 59.7% year-over-year growth, accelerating from September's 54.6%, says demand for AI hardware is still speeding up, not levelling off.
Does the release say which customers drove the growth?
No. The release gives no breakdown by technology node — the size of the transistors on a chip — or by customer, so it does not by itself say how much came from the most advanced chips or which end markets drove it.
What is TSMC guiding for the fourth quarter?
TSMC guided fourth-quarter revenue of $52.3 billion to $54.3 billion, and its forecast for 2026 growth is about 44% in US dollars.
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Source: TipRanks