TSMC Posts Record Q3 Profit on AI Demand, Beating Expectations

The Taiwanese semiconductor giant posted higher-than-expected record third-quarter profits fueled by surging demand for artificial intelligence hardware.

Profits at Taiwanese chipmaking giant TSMC surged past expectations to a new record high in the third quarter, driven by strong demand for artificial intelligence hardware, The Wall Street Journal and financial website Investing.com reported.

According to the reports, sustained demand for AI applications extended the record-breaking earnings streak of the world's largest contract chipmaker, with quarterly results exceeding market projections.

Further detailed figures regarding the company's full financial results have not yet been released.