Profit beats expectations as AI boom drives 54% hike

Taiwan Semiconductor Manufacturing Company reported a 54% increase in net profit in the third quarter, with a net income of 325.3 billion Taiwanese dollars. The company’s revenue is expected to continue growing in the last three months of the year, driven by demand for advanced chips from clients such as Apple and Nvidia. TSMC’s gross margin also improved to 57.8%. The company’s CEO highlighted the strong demand for AI-related technologies and expressed confidence in the long-term growth of the industry. TSMC is investing in expanding its manufacturing presence globally to meet increasing demand.