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 beat revenue and profit expectations in the fourth quarter on continued strong demand for AI chips.

Taiwan Semiconductor Manufacturing Co. (TSMC), the worlds largest contract chipmaker, posted a stronger-than-expected Q4 profit, fueled by robust demand for AI-driven advanced chips. Net income surged 57% to T$374.

Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing.

Taiwanese chip making company Taiwan Semiconductor Manufacturing (NYSE:TSM) is set to report its fourth quarter earnings results on Thursday, January 16th, before the opening bell. Analysts expect the company to post its biggest profit jump since 2022.