TSMC, the world's largest contract chip manufacturer, produces advanced processors for clients such as Nvidia and Apple and has benefited from the megatrend in favor of AI.

Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.Net revenue for the fourth quarter rose 38.

Taiwan Semiconductor Manufacturing reported a 57% rise in profit on strong demand for hardware to power AI systems.

Taiwan Semiconductor Manufacturing Co reported a 57% leap in fourth-quarter profit on Thursday as demand surges for advanced chips used in artificial intelligence processing.

Taiwan Semiconductor Manufacturing Company reports net profit for the three months to December jumps to US$11.4 billion.

Taiwan Semiconductor Manufacturing is set to report a surge in quarterly profit on the back of demand for artificial-intelligence hardware. However, proposed U.S. restrictions on exports of chips could cast a shadow over its December quarter results.

TSMC is set to report a net profit of T$377.95 billion ($11.44 billion) for the quarter ended Dec. 31, according to a LSEG SmartEstimate drawn from 22 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.