Taiwan Semiconductor Manufacturing Company, the world's biggest contract chipmaker, has unveiled a bumper profit rise and upped its growth outlook. The business noted that while demand for artificial intelligence technology remained strong, other parts of the semiconductor market are proving weaker for longer than feared. However, on Thursday TSMC reported a forecast-beating 54 per cent increase in quarterly profit, driven by strong demand for chips used in AI. TSMC said revenue from AI processors was set to account for mid-teens percentage of its overall revenue this year. The chipmaker said it expected fourth quarter revenue of $26.1billion to $26.9billion, up from $19.62billion by the same point a year ago.

Source: Daily Mail October 17, 2024 10:40 UTC