Taiwan's TSMC logs net profit jump on AI boom

TAIWANESE chipmaking titan TSMC announced yesterday a forecast-busting net profit for the fourth quarter in a sign of sustained global demand for AI technology.

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TSMC is the world’s biggest contract maker of microchips used in everything from Apple phones to Nvidia’s cutting-edge artificial intelligence hardware.

The company has been a massive beneficiary of the AI revolution that has seen tech giants pour many billions of dollars into chips, servers and data centres.

Some market-watchers fear the bubble of excitement around AI could burst and cause a stock rout, but TSMC’s results marked the latest high point for the firm.

“By expanding our global footprint while continuing to invest in Taiwan, TSMC can continue to be the trusted technology and capacity provider of the global logic industry for years to come,’ TSMC chairman CC Wei said.