TSMC fourth-quarter revenue jumps 20%, beats forecasts

TSMC, the ‌world’s largest contract ‌chipmaker, on Friday reported a 20.45% increase in fourth-quarter revenue from a year earlier, ‌beating the market forecast, as demand for the company’s products leapt in response to surging interest in AI applications.

The company, whose customers include Nvidia and Apple , has been a major beneficiary of advances in AI, which has more than offset the tapering off of pandemic-led demand for chips used ‌in consumer ‍electronics like tablets.