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TSMC 2024 Annual Report Website
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TSMC's 2024 Annual Report documents the company's semiconductor manufacturing capabilities, AI-driven demand growth, and global expansion plans. As the world's leading chip foundry producing advanced AI accelerator chips, TSMC's strategic direction is directly relevant to AI compute governance and capabilities trajectories.
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Importance: 42/100organizational reportprimary source
Summary
TSMC's 2024 Annual Report highlights record revenue growth of 30% year-over-year driven by AI-related demand, with advanced nodes (3nm, 2nm) and packaging technologies central to their roadmap. The report details technology milestones including N2 volume production planned for H2 2025 and A16 for H2 2026, alongside global manufacturing expansion. TSMC's role as the primary manufacturer of leading-edge AI chips makes this report a key indicator of AI hardware supply chain dynamics.
Key Points
- •TSMC revenue grew 30% YoY in 2024, significantly outpacing the foundry industry's 6% growth, driven by robust AI-related demand.
- •3nm technology represented 18% of total wafer revenue in 2024; 2nm (N2) volume production is on track for H2 2025.
- •A16 process with backside power delivery, optimized for HPC/AI workloads, is scheduled for volume production in H2 2026.
- •Advanced packaging technologies (CoWoS, InFO, SoIC, silicon photonics) are being scaled to support large AI model interconnectivity needs.
- •TSMC is expanding its global manufacturing footprint in response to structural long-term increases in AI chip demand.
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TSMC 2024 Annual Report Website
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Annual Report
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Letter to Shareholders
About TSMC
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Letter to Shareholders
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Dear Shareholders,
2024 was an outstanding year for TSMC. Supported by our strong technology leadership and broad customer base, we observed robust AI-related demand from our customers throughout 2024. Other applications experienced only a very mild recovery, as macroeconomic conditions continued to weigh on consumer sentiment. Fueled by strong demand for our leading-edge logic and advanced packaging technologies, TSMC’s revenue increased 30% year-over-year in US dollar terms, outperforming the Foundry industry’s 6% growth, and both our revenue and EPS reached record highs.
We continued to invest in R&D; and technology development to support our customers’ growth. In its second year of volume ramp, demand for our industry-leading 3-nanometer technology continued to be robust, driven by smartphone and High Performance Computing (HPC) applications, and represented 18% of our total wafer revenue in 2024.
Our 2-nanometer technology leads the industry in addressing our customers’ insatiable need for energy-efficient computing, and almost all the IC innovators are working with TSMC. Our N2 process technology is on track for volume production in the second half of 2025. We also introduced A16 as a separate offering that features an innovative, best-in-class backside power delivery solution best-suited for High Performance Computing (HPC) products. Volume production of A16 is scheduled for the second half of 2026.
We are also developing advanced packaging and 3D chip stacking technologies, including CoWoS®, InFO, TSMC-SoIC® (System on Integrated Chips) and silicon photonics, to enable large-scale interconnectivity for lower power consumption at affordable costs to support our customers’ needs.
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On mature nodes, we are working closely with strategic customers to develop specialty technology solutions that meet their specific requirement. These partnerships enable us to create technology differentiation and provide long-lasting value to customers.
We believe N3, N2, A16 and their derivatives, our specialty technologies, and our advanced packaging and chip stacking solutions, will further extend our technology le
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