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 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.

Chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI

Taiwan Semiconductor Manufacturing Co, the main global producer of advanced chips used in artificial intelligence applications, is expected to report a 58% leap in fourth-quarter profit on Thursday because of surging demand.

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.

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

Taiwan Semiconductor Manufacturing is set to report a surge in quarterly profit on the back of demand for artificial-intelligence hardware. It is expected to post a 55% rise in net profit to 370.64 billion New Taiwan dollars ($11.

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