TAIPEI (Taiwan News) — TSMC said Tuesday its wafer foundry revenue hit a record NT$401.26 billion (US$12.72 billion) in January, surpassing NT$400 billion for the first time.

The figure marked a 19.8% increase from December and a 36.8% year-on-year rise, per CNA. Analysts said strong demand for advanced 3 nm processes used in AI accelerators drove the record revenue.

TSMC projected first-quarter revenue of NT$1.09 trillion to NT$1.13 trillion, assuming an exchange rate of NT$31.6 per US dollar. February and March revenue is expected to average between NT$346.1 billion and NT$365 billion.

Nvidia CEO Jensen Huang (黃仁勳) recently visited Taiwan for the company’s annual banquet. He met with TSMC Chair and CEO C.C. Wei (魏哲家) and management, highlighting plans for high wafer volumes and potential capacity growth of over 100% in the next decade.

Looking to the full year, TSMC expects the global semiconductor industry to grow by 14%, driven by advanced process technologies and advanced packaging, per MoneyDJ. US dollar revenue could rise nearly 30%, outpacing industry standards.