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. The world's largest contract chipmaker,

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. rose in premarket trading Thursday after the world's largest contract chip manufacturer posted better-than-expected fourth-quarter profit and a bullish outlook for artificial intelligence demand.

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.

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.

TSMC's (TW: 2330) (NYSE: TSM) net income surged 57% to T$374.68 billion ($11.60 billion) in the three months to Dec 31, the company said in a statement. The figure was higher than Bloomberg estimates of T$369.84 billion.

World's largest contract chipmaker, whose customers include Apple and Nvidia, posted a net profit of T$374.68 billion ($11.4 billion) for the quarter ended Dec 31

The world’s largest contract chip maker reported another record quarter as it continued to ride the AI wave while navigating the U.S.-China chip rivalry.