TSMC fourth-quarter profit leaps to record driven by AI boom

TSMC, the world’s main producer of advanced AI chips and a major supplier to Nvidia, on Thursday posted a 35% ‌jump ‌in fourth-quarter profit to record levels that handily beat market forecasts on Thursday.

Benefiting ‌from surging demand for advanced chips used in artificial intelligence applications, Taiwan Semiconductor Manufacturing Co said net profit for October-December climbed to T$505.7 billion ($16 billion), its seventh straight quarter of double-digit growth.