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TSMC, Taiwan’s leading computer chip maker, said on Thursday its net profit rose nearly 40% last quarter due to increased use of artificial intelligence.
Taiwan Semiconductor Manufacturing Corporation is the world’s largest semiconductor manufacturer. It reported a record net profit of 452.3 billion New Taiwan dollars ($15 billion) in the July-September quarter, exceeding analysts’ forecasts.
The company previously said its revenue grew 30% year-over-year in the last quarter.
TSMC is building chip manufacturing plants United States of America And Japan To help hedge against risks arising from China-US trade tensions. The chip maker is a major supplier to companies like Apple and NVIDIA,
“Demand for TSMC’s products remains unwavering,” Morningstar analysts wrote in a note this month. “Given TSMC’s dominance, we doubt it would be hindered if the company faced tariffs on shipments to US customers. We expect AI demand to remain resilient.”
US Secretary of Commerce Howard Lutnick After proposing last month that computer chip production be split 50-50 between Taiwan and the U.S. Taiwan — where the majority of global chip manufacturing is currently based — rejected that idea.
The company has pledged $100 billion in U.S. investments, including building a new factory in Arizona, up from $65 billion previously committed.