On October 5, Goldman Sachs adjusted TSMC's 12-month target price, elevating it from NT$3,100 to NT$3,300. This adjustment suggests an upside potential of roughly 28% when compared to the closing price of NT$2,575 on the same day. Goldman Sachs anticipates that TSMC will sustain a robust growth trajectory in the upcoming year, propelled by the unrelenting surge in demand for GPUs, networking chips, and server CPUs essential for artificial intelligence applications. Analysts from Goldman Sachs highlighted that the intensified demand for CPUs, spurred by AI agents, marks a significant shift over the past year. Looking ahead, Goldman Sachs projects that TSMC's revenue, measured in U.S. dollars, will experience year-on-year growth of 42% in 2026 and 36.9% in 2027, accompanied by gross margins of 67.2% and 67.5%, respectively. In tandem with these revenue forecasts, Goldman Sachs has also revised its capital expenditure estimates for TSMC, raising them to US$85 billion for 2027 and US$98 billion for 2028. This move reflects the expectation that TSMC will ramp up its production capacity investments to adequately cater to the long-term demands of its customers. Overall, Goldman Sachs continues to endorse a "Buy" rating for TSMC.