TSMC third-quarter profit beats expectations as AI boom drives 54% hike

Technology

In this article

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.

Articles You May Like

Teen accused of Southport murders charged after ricin and al Qaeda manual found
China Achieves New World Record with 42-Tesla Resistive Magnet Technology
Jaw-dropping flooding again in Europe is shocking – but not entirely surprising
Jon Jones agrees to anger management classes
Looting and violence breaks out after Los Angeles Dodgers win World Series