TSMC's third-quarter profit surpasses expectations due to the AI industry's growth, resulting in a 54% increase.
On Thursday, Taiwan Semiconductor Manufacturing Company reported a 54% increase in net profit due to the global chipmakers' continued benefits from the demand driven by AI applications.
The company's net income for the July-September quarter was $10.1 billion, exceeding the LSEG estimate of $300.2 billion Taiwanese dollars.
Advanced chips are produced by TSMC, which is the world's largest manufacturer and serves clients such as Apple and Microsoft.
This breaking news story is being updated.
Technology
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