TSMC, the world's largest contract chip manufacturer, produces advanced processors for clients such as Nvidia and Apple and has benefited from the megatrend in favor of AI.

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.

Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. (TSM) rose 4% in premarket trading Thursday after the world's largest contract chip manufacturer posted better-than-expected fourth-quarter profit and a bullish outlook for artificial intelligence (AI) demand.

Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing.