TSMC net profit hits record high as fourth-quarter results top expectations on robust AI chip demand

• TSMC cuts profitability target as cost of diversifying supply chains bites

  World’s biggest chipmaker faces less efficient operations in US and Japan but gets boost from AI demand
  
  Financial Times - 1h

• Citigroup swings to fourth-quarter profit, tops estimates on investment banking strength

  The fourth-quarter report comes after a year where Citi's stock rose almost 37%, outperforming the S&P 500.
  
  CNBC - 13h
• 

  Uranium prices hit record as thirsty AI data centres add to market squeeze

  Industry pressured to build new conversion facilities to cover end of US import waiver and impact of Ukraine war
  
  Financial Times - 4d

• World's biggest chipmaker TSMC posts record 2024 revenue as AI boost continues

  TSMC manufacturers semiconductors for some of the world's biggest companies from Apple to Nvidia.
  
  CNBC - 6d
• 

  'High demand' for City of Culture opening ceremony

  'High demand' reported for open-air performance in Bradford city centre on Friday.
  
  BBC News - 6d

• Biden administration planning new AI chip export limits that would hit Nvidia, report says

  The White House is finalizing additional restrictions on the export of artificial intelligence microchips that would hit companies including Nvidia and Advanced Micro Devices, according to a report.
  
  MarketWatch - Jan. 9
• 

  Acer unveils Acer Swift Go and Aspire Vero 16 laptops with latest chips and up to 99 TOPS AI

  Acer unveiled new models in its Acer Swift Go and Acer Aspire Vero laptop families with the latest components from Intel and AMD.
  
  VentureBeat - Jan. 6

• Foxconn Posts Record Fourth-Quarter Revenue on AI Demand

  The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.
  
  The Wall Street Journal - Jan. 5

More from CNBC

• Biden administration launches cybersecurity executive order

  With this executive order, the Biden White House is looking to boost digital security in the U.S. for the government and the private sector.
  
  CNBC - 20m

• Tesla is offering Cybertruck discounts as EV market gets crowded

  Tesla started offering discounts on new Cybertruck vehicles in its inventory this week.
  
  CNBC - 9h

• Medicare's new $2,000 cap on out-of-pocket drug costs could save enrollees thousands, AARP says

  The AARP report suggests the spending cap could be huge for Medicare enrollees who take costly drugs for cancer, rheumatoid arthritis, and other conditions.
  
  CNBC - 50m

• TikTok’s U.S. operations could be worth as much as $50 billion if ByteDance decides to sell

  Business moguls should be prepared to spend tens of billions of dollars for TikTok's U.S. operations should parent company ByteDance decide to sell.
  
  CNBC - 12h

• Hindenburg Research founder says he's closing short-seller research shop

  Hindenburg took on companies including Nikola and Carvana and financial titan Carl Icahn as a short seller.
  
  CNBC - 11h

More in Business

• 

  Citigroup racks up £1bn bill for Canary Wharf tower refit

  Expected cost of renovations come on top of £1.2bn bank spent buying skyscraper in 2019
  
  Financial Times - 12m

• Most mutual funds don’t beat the market — but what’s ‘the market’ anyway?

  The S&P 500 is a high bar for fund managers. The Dow? Not as much.
  
  MarketWatch - 17m

• Biden administration launches cybersecurity executive order

  With this executive order, the Biden White House is looking to boost digital security in the U.S. for the government and the private sector.
  
  CNBC - 20m

• Nvidia supplier Taiwan Semi reports profit surge. AI capacity is ‘very tight,’ CEO says.

  Taiwan Semiconductor Manufacturing Co. on Thursday reported a stronger-than-expected profit and said artificial intelligence demand will help offset a typically weak period for smartphone sales.
  
  MarketWatch - 28m
• 

  Starbucks Reverses Its Open-Door Policy for Bathroom Use and Lounging

  Starbucks said visitors to the coffee shops would be required to buy something in order to use the restroom or stay in the store, as the company’s new chief executive responded to a decline in sales.
  
  The New York Times - 29m