Taiwan Semiconductor Manufacturing Co. (TSMC) reported a record revenue of 2.9 trillion New Taiwan dollars ($26.3 billion) for 2024, driven by strong demand for AI chips, particularly from Nvidia. This marked a 38.8% year-on-year increase and exceeded analyst estimates. TSMC's advanced manufacturing capabilities have led to capacity utilization exceeding 100% for its latest chips. The company's shares have risen 88% over the past year, indicating optimism for continued AI chip demand.