WSJ Tech News Briefing – TNB Tech Minute:

TSMC Raises Outlook After Record Third Quarter
Date: October 16, 2025
Host: Zoe Culkin
Duration: ~2 minutes

Episode Overview

This Tech Minute focuses on the financial and strategic updates from key tech players: Taiwan Semiconductor Manufacturing Co. (TSMC), Hewlett Packard Enterprise (HPE), and the electric vehicle company NIO, alongside broader trends in AI-driven chip demand and legal developments in the EV sector.

Key Discussion Points and Insights

1. TSMC’s Record Quarter and Upgraded Outlook

• Record Profit and Raised Forecast:
  • TSMC achieved a record-high profit in Q3 2025.
  • The company now anticipates mid-30% revenue growth for the year, revising the forecast upward from an earlier estimate of roughly 30% (00:27).
• Demand Drivers:
  • Sustained and robust demand for chips, particularly for artificial intelligence (AI) and general computing (00:37).
• Q4 Predictions:
  • TSMC projects Q4 revenue in the range of $32 to $34 billion (00:41).
• Tariffs and Industry Concerns:
  • Ongoing tariffs present notable uncertainty for the semiconductor sector.
  • TSMC executives have "downplayed the impact" of these tariffs on their business (00:45).

2. HPE’s Revenue Outlook and Market Reaction

• Stock Performance:
  • HPE shares are down around 9% after the company revealed more conservative revenue predictions (00:52).
• Future Growth Projections:
  • HPE expects revenue growth of 5–10% in fiscal 2026, a slowdown from the 14–16% growth anticipated for the current year (00:55).
• Strategic Focus:
  • The company will prioritize investment in networking, cloud infrastructure, artificial intelligence, and improving long-term profitability (01:02).

3. Legal Battle: GIC vs. NIO

• Lawsuit Details:
  • Singapore’s sovereign wealth fund GIC has launched a U.S. lawsuit against NIO, claiming the Chinese EV company artificially inflated the value of its securities (01:09).
• Claim Specifics:
  • GIC states it purchased $54.5 million of NIO’s American Depository Shares between August 2020 and July 2022 at prices that were “artificially inflated” (01:13).
• Case Status:
  • The court has currently “stayed” GIC’s lawsuit, citing a similar prior filing from three years ago (01:19).
  • NIO has not commented on the matter.

Notable Quotes & Memorable Moments

• “Taiwan Semiconductor Manufacturing Co. has raised its outlook after profit for the third quarter hit a record high...showing that chip demand for AI and computing remains strong.”
  – Zoe Culkin, 00:24

• “While tariffs remain an overhang for the sector, it’s unclear how much they’ll affect TSMC’s business and executives have downplayed the impact.”
  – Zoe Culkin, 00:45

• “Shares of Hewlett Packard Enterprise are down about 9% this morning after the company projected slower revenue growth.”
  – Zoe Culkin, 00:52

• “Singapore sovereign wealth fund GIC has filed a US lawsuit seeking damages from NIO, accusing the Chinese EV maker of inflating value of its securities.”
  – Zoe Culkin, 01:09

Timestamps for Key Segments

• [00:17] TSMC’s record quarter & raised forecast
• [00:45] Tariff impact discussion
• [00:52] HPE’s declining share price and forecast
• [01:09] GIC’s lawsuit against NIO

Episode Tone & Style

Succinct, factual, and market-focused, with clear reporting from the Wall Street Journal’s Zoe Culkin. No editorializing—just the news and notable financial moves shaping the tech landscape on October 16, 2025.