Taiwan Semiconductor Manufacturing Company disclosed on Tuesday, March 10, that its consolidated net revenue for February 2026 rose 22.2% from a year earlier to approximately NT$317.66 billion, or about $10.1 billion. While the figure reflects a roughly 21% sequential decline from January's record NT$401.26 billion — a seasonal pattern consistent with prior years — the year-over-year trajectory remains firmly positive. For the first two months of 2026 combined, TSMC recorded revenue of approximately NT$718.91 billion, up 29.9% versus the same period in 2025.
The results provide fresh evidence that demand for advanced semiconductors powering artificial intelligence applications remains robust, even as global equity markets grapple with geopolitical uncertainty stemming from the U.S.-Israeli conflict with Iran. TSMC manufactures chips for virtually every major AI accelerator designer, including Nvidia, Advanced Micro Devices, Broadcom, and Apple, making its monthly revenue disclosures a widely followed bellwether for the health of the broader AI investment cycle. The company has indicated it does not currently expect a meaningful operational impact from Middle East tensions, though it continues to monitor the situation closely.
Analysts on the sell side had projected a roughly 33% year-over-year increase for the first quarter as a whole, meaning the January-February pace of 30% is running modestly behind consensus. The slight trail relative to expectations has been attributed in part to elevated memory prices weighing on smartphone and PC demand, two segments that account for a meaningful share of TSMC's non-AI volumes. The company is actively shifting capacity toward higher-value AI and high-performance computing chips, which management expects will represent an increasing proportion of revenue going forward.
TSMC shares closed at NT$1,850 on Tuesday, up approximately 16.7% year-to-date, a performance that reflects investor confidence in the company's structural positioning within the AI supply chain. Looking ahead, the company plans to commence construction of a new fabrication facility in Tainan, targeting completion by 2028, to support continued capacity expansion in advanced nodes. Capital expenditures for 2026 are guided between $52 billion and $56 billion, up from $40.9 billion in 2025. For U.S.-listed investors, TSMC's American depositary receipts trade on the NYSE under the ticker TSM and have delivered substantial outperformance relative to the broader semiconductor index over the past twelve months.