Taiwanese chipmaker TSMC posted a 54% rise in third-quarter net profit on Thursday that beat market expectations as it continues to reap the rewards of surging demand for semiconductors used in artificial intelligence applications.

World’s largest contract chipmaker Taiwan Semiconductor (NYSE:TSM), whose customers include tech giants like Apple (AAPL) and Nvidia (NVDA), is expected to announce its third quarter earnings on Thursday,

Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications. The company's net income was 352.

TSMC, the world's largest contract chipmaker, said on Thursday it expects strong growth in its business to be sustained as it reported a forecast-beating 54% jump in quarterly profit due to soaring demand for chips used in artificial intelligence (AI).

Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 42% leap in third-quarter profit on Thursday thanks to soaring demand.

Taiwan Semiconductor Manufacturing Co. (TSMC), a key supplier to Nvidia and Apple, posted a 54% increase in Q3 net profit, surpassing expectations as surging demand for artificial intelligence (AI) chips offset weakness in the mobile industry.

Asia's most valuable publicly listed company saw profit jump 54 per cent last quarter Taiwan Semiconductor Manufacturing Company (TSMC), the dominant producer of advanced chips used in artificial intelligence (AI) applications,