Symbolic imageAI demand lifts TSMC and Samsung to record results
TSMC reported a 51% jump in third-quarter revenue on Thursday, and Samsung said its operating profit hit a record. GlobalFoundries also announced a $2bn deal to supply TSMC.
Samsung Electronics said in a preliminary release on Thursday, 8 October, that its July-September operating profit reached 107.4 trillion won (71.4bn euro), up 782.5% year on year, while revenue of 195 trillion won more than doubled. FAZ, citing Reuters, calls it the highest quarterly profit a technology company has reported; the Wall Street Journal puts it above $80bn. Demand for high-bandwidth memory chips drove the result, yet Samsung's shares fell 2.4% in Seoul, which FAZ reads as investor doubt about how long such levels can last. TSMC's revenue rose 51% according to Bloomberg and Handelsblatt, and about 50% to 41.66bn euro according to FAZ. TSMC will publish details next week.
Memory shortage lifts prices
FAZ reports that prices for DRAM and NAND chips have also risen because of scarcity. That is likely to burden Samsung's smartphone, tablet and electronics business, which uses these components.
GlobalFoundries to supply TSMC
GlobalFoundries, partly owned by Abu Dhabi's sovereign fund Mubadala, announced a $2bn deal to supply TSMC with silicon interposers made in the US, with large-scale production expected at the start of 2028. Its shares gained 2.8% to 49.44 on Thursday, according to The National.