Taiwan Semiconductor Posts Record Profit On A.I. Chip Demand
Taiwan Semiconductor Manufacturing Co. (TSM) has reported a record profit for this year’s third quarter as demand for artificial intelligence (A.I.) microchips remains strong.
The company, which manufactures about 75% of all the microchips in the world, reported a 39% increase in its third-quarter profit from last year, easily beating estimates.
Key financial results include:
- Net income: $452.3 billion new Taiwan dollars ($14.76 billion U.S.)
- Revenue: NT$989.92 billion, up 30% from a year earlier
TSMC is benefitting from the A.I. demand as Asia’s largest technology company and the leader in manufacturing microchips and semiconductors.
Author's summary: TSMC posts record profit due to strong A.I. chip demand.