TSMC Q4 profit jumps over 57% to record on strong demand for AI chips

Taiwan Semiconductor Manufacturing Co logged record quarterly profit on Thursday and said it expects robust revenue growth in the first three months of the year as demand surges for chips used in artificial intelligence processing.

While business is booming, TSMC does face headwinds from US government technology restrictions on China with the Biden administration saying this week it would further restrict AI chip and technology exports.