TSMC bullish on outlook as AI boom drives Q3 profit past forecasts

TSMC, the world’s largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54 per cent jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI).

Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in AI applications whose customers include Apple and Nvidia, has benefited from a surge towards AI across a spectrum of industries.