Business
2024-04-10-tsmc-new

The world’s leading semiconductor saw its sales jump 17% in the latest quarter

William Coulman, David Crowther
4/10/24 10:38AM

In Silico

Taiwan Semiconductor Manufacturing Company (TSMC) has caught the AI wave, posting double-digit growth for the first time since 2022, with a 17% surge in sales for the first quarter of 2024.

The world’s largest chipmaker, TSMC manufactures chips designed by the likes of Nvidia and Qualcomm. The output of the Taiwanese titan ends up in a countless number of products that make modern life tick, from smartphones to smart cars — and Apple is “by far” TSMC’s largest customer, spending tens of billions of dollars on TSMC chips for its Macs and iPhones.

After the pandemic-fueled tech binge cooled off, TSMC had a more sluggish 2023, reporting its first back-to-back quarterly sales decline since 2017. However, the AI revolution has reinvigorated demand for TSMC's high-end chips, with companies scrambling to stock up on the silicon that powers AI, bolstering the chipmaker’s sales in the most recent quarter: revenue in March alone was reportedly up 34% year-on-year.

TSMC's dominance remains a political football in the ongoing tensions between China and the US. In an attempt to bring more advanced semiconductor manufacturing back to American shores, the government has been working to boost its domestic semiconductor industry — on Monday announcing that TSMC could receive up to $11.6bn in grants and loans to help build its factories in Arizona.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

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Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

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Bank branches are still closing at breakneck speed in the US

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

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