() () () () () () () () () () () () () () () () () () () () () ()

Nvidia and Apple supplier TSMC shares pop 10% after quarterly profit soars on AI demand

October 17, 2024 by admin 0 Comments

In this article

2330-TW

An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022.

I-Hwa Cheng | Bloomberg | Getty Images

Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications.

The company’s net income was 352.3 billion Taiwanese dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese dollars cited by Reuters.

TSMC is the world’s largest producer of advanced chips, serving clients such as Apple and Nvidia.

This breaking news story is being updated.

This article was originally published by Cnbc.com. Read the original article here.