Profit beats expectations as AI boom drives 54% hike
An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022.
I-Hwa Cheng | Bloomberg | Getty Images
Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications.
The company’s net income was 352.3 billion Taiwanese dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese dollars cited by Reuters.
TSMC is the world’s largest producer of advanced chips, serving clients such as Apple and Nvidia.
This breaking news story is being updated.
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