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International Business Times
International Business Times
Business
Amber Wang and Joy Chiang

Taiwan's TSMC Posts Sharp Rise In Third Quarter Net Profit

TSMC Taiwan China United States
Taiwanese chip giant TSMC announced a bigger-than-expected increase in net profit for the third quarter (Credit: AFP)

Taiwanese chip giant TSMC announced a bigger-than-expected increase in net profit for the third quarter on Thursday and raised its growth forecasts for the year on "extremely robust" demand for AI technology.

Taiwan Semiconductor Manufacturing Company controls more than half the world's output of chips used in everything from Apple's iPhones to Nvidia's cutting-edge artificial intelligence hardware.

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