TSMC, the world’s largest contract chipmaker, posted a 35% jump in fourth-quarter net profit on Thursday, beating market forecasts and hitting a record as it benefited from surging demand for semiconductors used in artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, whose customers include Nvidia and Apple, saw October-December net profit rise to T$505.7 billion ($16.01 billion). The profit handily beat a T$478.4 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.
