Wall Street Breakfast AI spending drives TSMC
Mar 10, 2026
TSMC reports a big revenue jump as AI demand fuels semiconductor sales. A corporate countersuit alleges hidden China ties and material misclassification in the eVTOL space. FAA lifts a brief nationwide ground stop that paused an airline’s flights. Markets react to geopolitical oil risks and warnings of a possible S&P pullback.
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TSMC Revenue Surge Fueled By AI Demand
- TSMC's combined January-February revenue rose to $22.6 billion, up ~30% year-over-year driven by global AI investment.
- February revenue was about $10 billion, down 20.8% from January but up 22.2% versus last year, showing strong AI demand momentum.
Archer Countersuit Claims Joby Hid China Ties
- Archer filed a countersuit accusing Joby of defrauding the U.S. government and hiding China ties to gain advantage.
- Archer claims Joby misclassified Chinese-origin materials and received Chinese grants while both appear in DOT grant programs.
DOT Grants Heighten Air Taxi Competition
- The DOT announced eight grant programs to accelerate air taxis and drones; three programs list both Joby and Archer as participants.
- The filing coincided with the DOT grants, highlighting competitive stakes in government support.