{"id":105580,"date":"2026-04-30T00:16:44","date_gmt":"2026-04-29T22:16:44","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=105580"},"modified":"2026-04-29T18:32:28","modified_gmt":"2026-04-29T16:32:28","slug":"tsmc-cipovy-gigant-lame-rekordy-s-58-rustem-zisku-diky-boomu-v-oblasti-umele-inteligence","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/04\/30\/tsmc-cipovy-gigant-lame-rekordy-s-58-rustem-zisku-diky-boomu-v-oblasti-umele-inteligence\/","title":{"rendered":"TSMC: \u010cipov\u00fd gigant l\u00e1me rekordy s 58% r\u016fstem zisku d\u00edky boomu v oblasti um\u011bl\u00e9 inteligence"},"content":{"rendered":"
<\/div>\n

P\u0159edstavte si sv\u011bt, kde popt\u00e1vka po \u010dipech pro um\u011blou inteligenci m\u011bn\u00ed pravidla hry v cel\u00e9m technologick\u00e9m pr\u016fmyslu. Spole\u010dnost TSMC pr\u00e1v\u011b zve\u0159ejnila \u010dtvrtletn\u00ed v\u00fdsledky, kter\u00e9 potvrzuj\u00ed, \u017ee revoluce v oblasti AI poh\u00e1n\u00ed nejen jednu spole\u010dnost, ale cel\u00fd glob\u00e1ln\u00ed \u010dipov\u00fd ekosyst\u00e9m. Co to znamen\u00e1 pro investory a trhy v dob\u011b, kdy Nvidia za\u017e\u00edv\u00e1 raketov\u00fd r\u016fst akci\u00ed a jej\u00ed \u0161\u00e9f hovo\u0159\u00ed o objedn\u00e1vk\u00e1ch v \u0159\u00e1du miliard? Pokra\u010duj\u00edc\u00ed vlna investic do AI pokra\u010duje a TSMC posouv\u00e1 hranice.<\/strong><\/p>\n

Taiwan Semiconductor Manufacturing Company, ozna\u010dovan\u00e1 jako TSMC, je tchajwansk\u00e1 spole\u010dnost se s\u00eddlem v Hsinchu. Jedn\u00e1 se o nejv\u011bt\u0161\u00edho smluvn\u00edho v\u00fdrobce polovodi\u010d\u016f na sv\u011bt\u011b s pod\u00edlem p\u0159ibli\u017en\u011b 70 % na glob\u00e1ln\u00edm trhu. Spole\u010dnost byla zalo\u017eena v roce 1987 Morrisem Changem a za dobu sv\u00e9 existence dos\u00e1hla dominantn\u00edho postaven\u00ed ve v\u00fdrob\u011b pokro\u010dil\u00fdch \u010dip\u016f na nanometrov\u00fdch technologi\u00edch, jako jsou 3 nm nebo 2 nm. Dnes TSMC vyr\u00e1b\u00ed \u010dipy pro kl\u00ed\u010dov\u00e9 klienty, v\u010detn\u011b Nvidie, Apple a AMD, a pod\u00edl\u00ed se na v\u00edce ne\u017e 60 % tr\u017eeb v segmentu vysoce v\u00fdkonn\u00e9ho v\u00fdpo\u010detn\u00edho v\u00fdkonu a AI.[1]<\/a><\/p>\n

TSMC p\u0159ekon\u00e1v\u00e1 rekordy d\u00edky boomu v oblasti AI<\/strong><\/h3>\n

TSMC vstoupila do roku 2026 ve velk\u00e9m stylu a jej\u00ed prvn\u00ed \u010dtvrtlet\u00ed potvrdilo, \u017ee se tento \u010dipov\u00fd gigant stal kl\u00ed\u010dovou sou\u010d\u00e1st\u00ed investi\u010dn\u00ed vlny v oblasti um\u011bl\u00e9 inteligence. Spole\u010dnost nejen\u017ee p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed analytik\u016f, ale z\u00e1rove\u0148 uk\u00e1zala, \u017ee popt\u00e1vka po v\u00fdpo\u010detn\u00edm v\u00fdkonu pro AI se prom\u00edt\u00e1 do bezprecedentn\u00ed ziskovosti a mar\u017e\u00ed, jak\u00e9 jsme v polovodi\u010dov\u00e9m pr\u016fmyslu dosud t\u00e9m\u011b\u0159 nevid\u011bli. Rekordn\u00ed r\u016fst zisku o 58 % p\u0159i p\u0159ibli\u017en\u011b 35% r\u016fstu tr\u017eeb podtrhuje, \u017ee TSMC dok\u00e1\u017ee zpen\u011b\u017eit popt\u00e1vku po nejmodern\u011bj\u0161\u00edch procesech od 5 nm po 3 nm, kter\u00e9 dnes tvo\u0159\u00ed j\u00e1dro infrastruktury AI od datov\u00fdch center a\u017e po specializovan\u00e9 akceler\u00e1tory. Prvn\u00ed m\u011bs\u00edce roku tak nastavily la\u0165ku vysoko a investo\u0159i budou dal\u0161\u00ed v\u00fdvoj sledovat nejen prost\u0159ednictv\u00edm samotn\u00fdch \u010d\u00edsel, ale zejm\u00e9na prost\u0159ednictv\u00edm sign\u00e1l\u016f, kter\u00e9 TSMC vys\u00edl\u00e1 o budouc\u00edm sm\u011b\u0159ov\u00e1n\u00ed cel\u00e9ho AI supercyklu.[2]<\/a><\/p>\n

Rekordn\u00ed \u010dtvrtlet\u00ed a tlak na o\u010dek\u00e1v\u00e1n\u00ed<\/strong><\/h3>\n

Prvn\u00ed \u010dtvrtlet\u00ed roku 2026 p\u0159ineslo spole\u010dnosti TSMC \u010dist\u00fd zisk ve v\u00fd\u0161i p\u0159ibli\u017en\u011b 572,5 miliardy TWD, co\u017e p\u0159edstavuje nov\u00fd historick\u00fd rekord spole\u010dnosti. Tr\u017eby dos\u00e1hly zhruba 1,134 bilionu TWD, tedy p\u0159ibli\u017en\u011b 36 miliard USD, co\u017e m\u00edrn\u011b p\u0159ekonalo tr\u017en\u00ed odhady, kter\u00e9 po\u010d\u00edtaly s \u00farovn\u00ed kolem 1,12 bilionu TWD. Z\u00e1rove\u0148 do\u0161lo k v\u00fdrazn\u00e9mu zlep\u0161en\u00ed ukazatel\u016f ziskovosti, kdy\u017e hrub\u00e1 mar\u017ee vzrostla na 66,2 % oproti 62,3 % v p\u0159edchoz\u00edm \u010dtvrtlet\u00ed, p\u0159i\u010dem\u017e provozn\u00ed mar\u017ee se posunula na 58,1 % a rovn\u011b\u017e p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed trhu. Tato \u010d\u00edsla posouvaj\u00ed TSMC je\u0161t\u011b hloub\u011bji do pozice vysoce ziskov\u00e9ho hr\u00e1\u010de v oblasti infrastruktury, kde kombinace rozsahu a technologick\u00e9ho n\u00e1skoku umo\u017e\u0148uje p\u0159em\u011bnit popt\u00e1vku po AI \u010dipech na robustn\u00ed cash-flow a zvy\u0161uje la\u0165ku toho, co budou investo\u0159i od firmy o\u010dek\u00e1vat v dal\u0161\u00edch \u010dtvrtlet\u00edch.[3]<\/a> [1]<\/p>\n

Popt\u00e1vka po AI jako motor r\u016fstu<\/strong><\/h3>\n

To, co se po dlouh\u00e9 m\u011bs\u00edce prezentovalo jako tematick\u00fd p\u0159\u00edb\u011bh o boomu v oblasti AI, se v \u010d\u00edslech TSMC m\u011bn\u00ed na konkr\u00e9tn\u00ed, m\u011b\u0159iteln\u00fd motor r\u016fstu. Spole\u010dnost potvrdila, \u017ee za siln\u00fdm \u010dtvrtlet\u00edm stoj\u00ed p\u0159edev\u0161\u00edm popt\u00e1vka po \u010dipech pro vysoce v\u00fdkonnou AI infrastrukturu, p\u0159i\u010dem\u017e pokro\u010dil\u00e9 v\u00fdrobn\u00ed procesy na \u00farovni 5 nm a 3 nm tvo\u0159\u00ed v\u00edce ne\u017e 60 % tr\u017eeb. Kl\u00ed\u010dov\u00ed z\u00e1kazn\u00edci, jako jsou Nvidia, Apple a dal\u0161\u00ed hyperscalery, tla\u010d\u00ed na kapacitu v\u00fdroby \u0161pi\u010dkov\u00fdch \u010dip\u016f, co\u017e umo\u017e\u0148uje spole\u010dnosti TSMC udr\u017eet si vysok\u00e9 mar\u017ee a z\u00e1rove\u0148 postupn\u011b zvy\u0161ovat dlouhodob\u00fd investi\u010dn\u00ed horizont. Spole\u010dnost tak ji\u017e nefunguje pouze jako dodavatel pro jednotliv\u00e9 hr\u00e1\u010de, ale jako centr\u00e1ln\u00ed infrastrukturn\u00ed osa cel\u00e9ho ekosyst\u00e9mu AI, kter\u00e1 p\u0159em\u011b\u0148uje rostouc\u00ed po\u010det aplikac\u00ed a model\u016f AI na stabiln\u00ed proud objedn\u00e1vek. Tento posun zvy\u0161uje citlivost trh\u016f na jak\u00e9koli sign\u00e1ly managementu TSMC ohledn\u011b popt\u00e1vky a \u010din\u00ed z \u010dtvrtletn\u00edch v\u00fdsledk\u016f spole\u010dnosti kl\u00ed\u010dov\u00fd indik\u00e1tor zdrav\u00ed segmentu AI.2<\/sup><\/p>\n

TSMC stav\u00ed tov\u00e1rnu na supercyklus AI<\/strong><\/h3>\n

Stejn\u011b d\u016fle\u017eit\u00fd jako samotn\u00fd kvart\u00e1l je i zp\u016fsob, jak\u00fdm TSMC nastavuje kapit\u00e1lov\u00e9 v\u00fddaje a v\u00fdhled na dal\u0161\u00ed obdob\u00ed, proto\u017ee pr\u00e1v\u011b zde se projevuje d\u016fv\u011bra veden\u00ed v trvalost AI vlny. Spole\u010dnost ozn\u00e1mila, \u017ee v roce 2026 pl\u00e1nuje kapit\u00e1lov\u00e9 v\u00fddaje v rozmez\u00ed p\u0159ibli\u017en\u011b 52 a\u017e 56 miliard USD, co\u017e p\u0159edstavuje v\u00fdrazn\u00fd n\u00e1r\u016fst oproti p\u0159edchoz\u00edmu roku a historicky bezprecedentn\u00ed tempo investic do v\u00fdrobn\u00edch kapacit. Veden\u00ed z\u00e1rove\u0148 o\u010dek\u00e1v\u00e1, \u017ee tr\u017eby vyj\u00e1d\u0159en\u00e9 v dolarech porostou v pr\u016fb\u011bhu cel\u00e9ho roku tempem p\u0159esahuj\u00edc\u00edm 30 %, p\u0159i\u010dem\u017e ji\u017e pro druh\u00e9 \u010dtvrtlet\u00ed p\u0159edpokl\u00e1d\u00e1 tr\u017eby v rozmez\u00ed p\u0159ibli\u017en\u011b 39 a\u017e 40,2 miliardy USD, tedy v\u00fdrazn\u011b vy\u0161\u0161\u00ed ne\u017e ve stejn\u00e9m obdob\u00ed lo\u0148sk\u00e9ho roku. Na \u00farovni segment\u016f sm\u011b\u0159uje v\u011bt\u0161ina kapit\u00e1lu do v\u00fdvoje 2 nm, kter\u00e9 maj\u00ed obslou\u017eit dal\u0161\u00ed generaci AI akceler\u00e1tor\u016f a high-performance computing. TSMC tak vys\u00edl\u00e1 jasn\u00fd sign\u00e1l, \u017ee AI boom nevn\u00edm\u00e1 jako kr\u00e1tkodobou bublinu, ale jako dlouhodob\u00fd supercyklus, na kter\u00fd je p\u0159ipravena vsadit des\u00edtky miliard USD ro\u010dn\u011b.[4]<\/a> \u00a0[2]<\/p>\n

TSMC jako tich\u00fd v\u00edt\u011bz AI rally<\/strong><\/h3>\n

Ve stejn\u00e9m t\u00fddnu, kdy spole\u010dnost TSMC ozn\u00e1mila rekordn\u00ed \u010dtvrtletn\u00ed v\u00fdsledky, zaznamenala spole\u010dnost Nvidia desetidenn\u00ed r\u016fstovou s\u00e9rii sv\u00fdch akci\u00ed. Tento pohyb p\u0159ich\u00e1z\u00ed kr\u00e1tce po konferenci GTC, na kter\u00e9 gener\u00e1ln\u00ed \u0159editel Jensen Huang hovo\u0159il o tom, \u017ee Nvidia vid\u00ed cestu k tr\u017eb\u00e1m z GPU a souvisej\u00edc\u00edch produkt\u016f p\u0159esahuj\u00edc\u00edm 1 bilion USD do roku 2027, co\u017e p\u0159edstavuje radik\u00e1ln\u00ed zv\u00fd\u0161en\u00ed ambic\u00ed v oblasti datov\u00fdch center a v\u00fdpo\u010dt\u016f um\u011bl\u00e9 inteligence. Pro TSMC to znamen\u00e1, \u017ee kl\u00ed\u010dov\u00fd z\u00e1kazn\u00edk ve\u0159ejn\u011b potvrzuje obrovsk\u00fd objem budouc\u00edch objedn\u00e1vek, kter\u00e9 se mus\u00ed prom\u00edtnout do re\u00e1ln\u00e9 v\u00fdrobn\u00ed kapacity na pokro\u010dil\u00fdch procesech, co\u017e je\u0161t\u011b v\u00edce legitimizuje agresivn\u00ed kapit\u00e1lov\u00e9 pl\u00e1ny TSMC. V t\u00e9to dynamice se TSMC profiluje jako tich\u00fd, ale syst\u00e9mov\u00fd v\u00edt\u011bz AI rally, kter\u00fd stoj\u00ed v pozad\u00ed r\u016fstu tr\u017en\u00ed kapitalizace Nvidie a dal\u0161\u00edch hr\u00e1\u010d\u016f, proto\u017ee bez jej\u00edch tov\u00e1ren by miliardov\u00e9 objedn\u00e1vky GPU z\u016fstaly pouze na \u00farovni prezentac\u00ed. Pro investory to vytv\u00e1\u0159\u00ed narativ, ve kter\u00e9m TSMC nen\u00ed pouze dodavatelem, ale p\u00e1te\u0159\u00ed cel\u00e9 AI ekonomiky.2[5]<\/a><\/sup><\/p>\n

Z\u00e1v\u011br<\/strong><\/h3>\n

TSMC dnes stoj\u00ed v centru investi\u010dn\u00ed vlny do AI jako infrastrukturn\u00ed hr\u00e1\u010d, kter\u00fd posouv\u00e1 narativ o um\u011bl\u00e9 inteligenci z \u00farovn\u011b softwarov\u00fdch aplikac\u00ed do sv\u011bta tov\u00e1ren, litografie a miliardov\u00fdch kapit\u00e1lov\u00fdch v\u00fddaj\u016f. Rekordn\u00ed r\u016fst tr\u017eeb a zisku v prvn\u00edm \u010dtvrtlet\u00ed roku 2026, spojen\u00fd s agresivn\u00edm nav\u00fd\u0161en\u00edm kapit\u00e1lov\u00fdch v\u00fddaj\u016f a ambici\u00f3zn\u00edm v\u00fdhledem na cel\u00fd rok s r\u016fstem kolem 30 %, ukazuje, \u017ee veden\u00ed firmy nes\u00e1z\u00ed na kr\u00e1tkodob\u00fd humbuk, ale na dlouhodob\u00fd supercyklus popt\u00e1vky po v\u00fdpo\u010detn\u00edm v\u00fdkonu. Z\u00e1rove\u0148 plat\u00ed, \u017ee rostouc\u00ed z\u00e1vislost na segmentu AI a geopolitick\u00e9 nap\u011bt\u00ed kolem Tchaj-wanu zvy\u0161uj\u00ed rizikov\u00fd profil TSMC, co\u017e nut\u00ed trhy uva\u017eovat o t\u00e9to firm\u011b nejen jako o motoru dne\u0161n\u00edho r\u016fstu, ale tak\u00e9 jako o strategick\u00e9m aktivu glob\u00e1ln\u00ed ekonomiky. Pro investory to znamen\u00e1, \u017ee ka\u017ed\u00fd dal\u0161\u00ed kvart\u00e1l TSMC nebude jen dal\u0161\u00ed zpr\u00e1vou o v\u00fdsledc\u00edch, ale tak\u00e9 testem udr\u017eitelnosti supercyklu AI a indik\u00e1torem toho, zda jsou dne\u0161n\u00ed valuace v ekosyst\u00e9mu AI podlo\u017eeny realitou, nebo se za\u010d\u00ednaj\u00ed vzdalovat od fundament\u016f. Pokud se spole\u010dnosti TSMC poda\u0159\u00ed i nad\u00e1le roz\u0161i\u0159ovat kapacity, udr\u017eet technologick\u00fd n\u00e1skok a zvl\u00e1dat geopolitick\u00e9 tlaky, m\u016f\u017ee b\u00fdt sou\u010dasn\u00fd rekordn\u00ed \u010dtvrtlet\u00ed pouze prvn\u00edm z \u0159ady miln\u00edk\u016f na trajektorii, kter\u00e1 p\u0159edefinuje, jak vypad\u00e1 hodnotov\u00fd \u0159et\u011bzec v \u00e9\u0159e um\u011bl\u00e9 inteligence. [3]<\/p>\n

Adam Austera, analytik <\/strong>Ozios<\/strong><\/a><\/h5>\n

[1,2,3] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a aktu\u00e1ln\u00edch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1, nebo z aktu\u00e1ln\u00edho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Takov\u00e1 prohl\u00e1\u0161en\u00ed nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. Zahrnuj\u00ed rizika a dal\u0161\u00ed nejistoty, kter\u00e9 lze jen t\u011b\u017eko p\u0159edv\u00eddat. V\u00fdsledky se mohou podstatn\u011b li\u0161it od v\u00fdsledk\u016f vyj\u00e1d\u0159en\u00fdch nebo implikovan\u00fdch v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n

O.Z.I. Online Zone Investment Opportunities (OZIOS<\/a>) je registrovan\u00e1 zna\u010dka spole\u010dnosti APME FX TRADING EUROPE LTD, kypersk\u00e9 investi\u010dn\u00ed spole\u010dnosti (CIF) kontrolovan\u00e9 a regulovan\u00e9 Kyperskou komis\u00ed pro cenn\u00e9 pap\u00edry (CySEC) s licenc\u00ed CIF \u010d\u00edslo 335\/17 a registrovanou adresou Lophitis Business Center, Office 404, 4th Floor, 28 October Ave 249, Limassol 3035, Cyprus. Finan\u010dn\u00ed smlouvy o rozd\u00edlu (CFD) jsou slo\u017eit\u00e9 n\u00e1stroje a jsou spojeny s vysok\u00fdm rizikem rychl\u00fdch finan\u010dn\u00edch ztr\u00e1t v d\u016fsledku p\u00e1kov\u00e9ho efektu. U 76,44 % \u00fa\u010dt\u016f retailov\u00fdch investor\u016f doch\u00e1z\u00ed p\u0159i obchodov\u00e1n\u00ed s finan\u010dn\u00edmi kontrakty na rozd\u00edl (CFD) u tohoto poskytovatele k finan\u010dn\u00edm ztr\u00e1t\u00e1m. M\u011bli byste zv\u00e1\u017eit, zda rozum\u00edte tomu, jak finan\u010dn\u00ed kontrakty na rozd\u00edl funguj\u00ed, a zda si m\u016f\u017eete dovolit podstoupit vysok\u00e9 riziko, \u017ee utrp\u00edte finan\u010dn\u00ed ztr\u00e1ty.<\/p>\n

[1]<\/a> https:\/\/en.wikipedia.org\/wiki\/TSMC<\/a><\/p>\n

[2]<\/a> https:\/\/www.cnbc.com\/2026\/04\/16\/tsmc-q1-profit-58-percent-ai-chip-demand-record.html<\/a><\/p>\n

[3]<\/a> https:\/\/www.tradingkey.com\/analysis\/stocks\/us-stocks\/261789154-tsmc-q1-net-profit-soars-58-driven-by-ai-demand-tradingkey<\/a><\/p>\n

[4]<\/a> https:\/\/finance.yahoo.com\/news\/tsmc-lifts-2026-capex-outlook-154053660.html<\/a><\/p>\n

[5]<\/a> https:\/\/finance.yahoo.com\/news\/nvidia-stock-rises-10th-straight-140951038.html<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

P\u0159edstavte si sv\u011bt, kde popt\u00e1vka po \u010dipech pro um\u011blou inteligenci m\u011bn\u00ed pravidla hry v cel\u00e9m…<\/p>\n","protected":false},"author":2,"featured_media":104186,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[3101,1042,341,331],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/105580"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=105580"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/105580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/104186"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=105580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=105580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=105580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}