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.

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 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.

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 Company beat revenue and profit expectations in the fourth quarter on continued strong demand for AI chips.

Taiwanese chip making company Taiwan Semiconductor Manufacturing (NYSE:TSM) is set to report its fourth quarter earnings results on Thursday, January 16th, before the opening bell. Analysts expect the company to post its biggest profit jump since 2022.