TSMC hit a record NT$586.9bn in October; four of five assemblers peaked earlier
Monthly revenue at TSMC and five Taiwanese server assemblers, January to October, from their exchange filings: who is pulling AI demand, and how a chip maker’s sales differ from an assembler’s.
Taiwan’s listed companies file their revenue every month, so its chip and server makers give the earliest regular reading of AI hardware demand, weeks before any quarter closes. We read ten months of filings from TSMC, which makes chips for other companies, and from five assemblers: Hon Hai (Foxconn), Quanta, Wistron, Wiwynn and Inventec. Who is pulling demand month by month, and what does a chip maker’s revenue mean next to an assembler’s?2
01TSMC: a record, and the line behind it
TSMC took in NT$586.9bn in October, 14.7% more than in September.1 It is the highest month in the company’s history: the previous high was NT$514.8bn in August, and before this year the highest was NT$367.5bn, in October 2025.23 For the first ten months TSMC has NT$4,485.6bn, up 43.3%.1 Its exchange filing puts the rise on a year earlier down to greater demand for advanced-process products, as it did in June, August and September.2 In the third quarter, processes of 7 nanometres and finer made up 79% of wafer revenue, and 2-nanometre had already reached 8%.5
TSMC's October revenue of NT$586.9bn is the highest month in its history
Monthly consolidated net revenue, NT$ billion, January to October, 2026 against 2025
- 2026
- 2025
NT$bn
Show tableHide table
| 2026 | 2025 | |
|---|---|---|
| Jan | 401.3 | 293.3 |
| Feb | 317.7 | 260 |
| Mar | 415.2 | 286 |
| Apr | 410.7 | 349.6 |
| May | 417 | 320.5 |
| Jun | 442.7 | 263.7 |
| Jul | 467.6 | 323.2 |
| Aug | 514.8 | 335.8 |
| Sep | 511.9 | 331 |
| Oct | 586.9 | 367.5 |
Source: TSMC filings on the Taiwan Stock Exchange's MOPS site; TSMC 6-K of 10 November 2026 · as of 10 November 2026 · Checked against TSMC's own monthly tables back to 2010
October ran above the pace TSMC guided for the quarter. It guided October to December revenue of US$52.3–54.3bn, at an assumed NT$31.8 to the dollar, which is about NT$1,663–1,727bn.5 October alone is about 35% of that. To land inside the range at that rate, November and December would need to average NT$538–570bn, less than October.5 Taiwan’s trade figures run the same way: October exports reached a record US$96.76bn, up 58.9%, with integrated circuits up 63.0% to US$31.17bn, according to the finance ministry.6
02The assemblers: Hon Hai's record, and four earlier highs
The five assemblers together booked NT$2.31tn in October, up 64.7% from NT$1.40tn a year earlier and up from NT$1.33tn in January.2 Hon Hai alone was NT$1,305.3bn, which it calls the “highest single-month revenue in the Company’s history”.4 Every other assembler’s 2026 high came earlier: Quanta (NT$424.0bn) and Wistron (NT$460.1bn) in August, Wiwynn (NT$172.6bn) in September, Inventec (NT$102.3bn) in June.2
Hon Hai set a record in October; the other four assemblers together peaked in August
Monthly revenue, NT$ billion, January to October 2026: Hon Hai, and Quanta, Wistron, Wiwynn and Inventec combined
- Hon Hai
- Other four
NT$bn
Show tableHide table
| Hon Hai | Other four | |
|---|---|---|
| Jan | 730 | 604.2 |
| Feb | 595.8 | 646 |
| Mar | 803.7 | 882.1 |
| Apr | 832.1 | 790.9 |
| May | 859.4 | 768.5 |
| Jun | 821.8 | 920.6 |
| Jul | 946.5 | 882.4 |
| Aug | 921.8 | 1,111.6 |
| Sep | 1,158.6 | 977.4 |
| Oct | 1,305.3 | 1,001 |
Source: Company filings on the Taiwan Stock Exchange's MOPS site; TechBag sum of the four · as of 10 November 2026
Inside Hon Hai’s record, cloud and networking was the one segment that fell on the month. Smart consumer electronics grew most on the month, on what Hon Hai calls pull-in momentum and higher shipment prices. Cloud and networking recorded a “slight decline”, which it attributes to a “shift by consignment model, tight supply, and early-stage production ramps of new models”. Against October 2025, cloud and networking still led all four segments.4
The specialists are growing fastest. Quanta and Wistron have each roughly doubled over the first ten months, against 40.4% at Hon Hai, but both remain below their August levels. In their October filings Quanta gives a change in product mix as the reason for its rise on a year earlier; Wistron and Wiwynn cite customer demand.2
Show tableHide table
| October, NT$bn | On September | On October 2025 | Jan–Oct, NT$bn | On Jan–Oct 2025 | 2026 high | |
|---|---|---|---|---|---|---|
| TSMC (not in the sum) | 586.9 | +14.65% | +59.70% | 4,485.6 | +43.3% | October |
| Hon Hai | 1,305.3 | +12.66% | +45.73% | 8,975.1 | +40.4% | October |
| Quanta | 353.3 | +8.59% | +103.96% | 3,314.6 | +99.9% | August, 424.0 |
| Wistron | 402.6 | +5.72% | +117.55% | 3,293.5 | +99.5% | August, 460.1 |
| Wiwynn | 165.1 | −4.33% | +80.93% | 1,154.4 | +54.0% | September, 172.6 |
| Inventec | 80.0 | −18.92% | +46.01% | 822.2 | +43.1% | June, 102.3 |
| Five assemblers | 2,306.3 | +8.0% | +64.7% | 17,559.8 | +59.3% | October |
03Why these are different numbers, and what to watch
TSMC sells finished wafers to the companies that design chips. An assembler buys chips, memory, boards and cooling, builds the server or rack and sells the whole thing, so its revenue includes the price of every part inside. One GPU is counted in TSMC’s revenue as a wafer, again in its designer’s sale, and again inside the assembler’s server, which is why these figures can never be added together.
Consignment shows why that matters. When a customer owns the GPUs or memory and supplies them to the assembler, the price of those parts generally stays out of the assembler’s revenue, which then looks more like a fee for the work. The same number of servers can ship while reported revenue falls. Hon Hai did not say how much of its decline came from this.4
Monthly revenue says nothing about margin. TSMC kept 66.4% as gross profit in the third quarter; the server maker Supermicro kept 12.7% in its latest quarter, as our Trend on who keeps the margin shows.57 Growth in New Taiwan dollars also runs ahead of growth in US dollars at present: TSMC’s third-quarter revenue rose 50.9% in the one and 41.2% in the other, and Hon Hai’s October 45.73% and 39.7%.45
What to watch.
- 12 November: Hon Hai’s call on third-quarter results, the first place it could say how large the consignment shift is. Its November revenue follows on 5 December.4
- TSMC’s November figure. Against the guidance arithmetic above, the question is whether it holds near October or settles lower.5
- The four other assemblers. Whether any of them passes its earlier 2026 high, and whether revenue keeps moving differently from what each says about demand.2
Sources
- TSMC, October 2026 Revenue Report (Form 6-K) — 10 November 2026
- Taiwan Stock Exchange MOPS, monthly revenue of listed companies, October 2026 table — tables to 10 November 2026 Earlier months at the same address, changing the month number. Company codes 2330, 2317, 2382, 3231, 6669 and 2356.
- TSMC, monthly revenue history, investor relations — monthly tables, 2010 to 2025 Other years at the same address.
- Hon Hai Precision Industry, Unaudited Consolidated Monthly Revenue Report for October 2026 — 5 November 2026
- TSMC, Reports Third Quarter EPS of NT$29.43 (Form 6-K, Exhibit 99.1) — 15 October 2026
- Focus Taiwan (CNA), citing Taiwan's Ministry of Finance: exports in October — 9 November 2026
- The TechBag Journal: Supermicro's sales grew 298% at a 13% margin; Arista's grew 58% at 64% — 4 November 2026
Disclosure. TechBag is a software reseller: it earns a margin when a reader buys through it, including from vendors named here. The analysis is TechBag’s own; no vendor paid for or saw this piece before publication. Facts are labelled reported, TechBag count or our view.
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