- TSMC CEO confirms discussions with Elon Musk‘s Terafab project but insists the Taiwanese chipmaker must operate the facility.
- TSMC reported a 69% jump in third-quarter net profit to $23.59 billion, beating analyst expectations amid surging AI demand.
- Retail sentiment on Stocktwits turned ‘extremely bullish’ for TSM despite a 2% premarket stock decline.
Taiwan Semiconductor Manufacturing Co. (TSMC) CEO C.C. Wei confirmed Thursday that the company is discussing a potential collaboration with Elon Musk’s Terafab project, but insisted the fab must be run by TSMC. “We are still in discussion, let me say that,” Wei told analysts, “but the fab has got to be run by TSMC,” per Bloomberg.
The comments come a week after Musk appeared to rule out an operational role for TSMC at Terafab, stating his companies would build and operate the facility themselves. Intel (INTC) is reportedly helping Musk’s companies develop the technology the plant will use.
Meanwhile, TSMC posted a sixth consecutive quarter of record earnings as AI demand surges. Net profit in the July-to-September period rose 69% to T$763.1 billion ($23.59 billion), beating LSEG SmartEstimate expectations of T$746.3 billion.
Third-quarter revenue rose 51% to T$1.49 trillion, with the company forecasting fourth-quarter revenue growth of up to 61% year over year. Despite the strong results, TSM stock slipped 2% lower in premarket trading amid a broader chip rout.
On Stocktwits, retail sentiment for TSM shifted to ‘extremely bullish’ from ‘bullish.’ One trader noted: “TSM Even with $TSM dropping a monster earnings report, the ticker itself was already in a pullback, and the broader market was bleeding too—so down it went. Price action over news, every single time. Respect the tape.” For further updates, follow TSMC news on Google News.
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