TSMC profits jump 58% in March quarter on AI demand

Taiwan’s chipmaker TSMC, one of the world’s largest companies, reported a 58 per cent jump in profit on Thursday for the January-March quarter, thanks to strong demand driven by the artificial intelligence (AI) boom even as the Iran war was driving up costs. Taiwan Semiconductor Manufacturing Corp (TSMC) a key supplier for Apple and Nvidia and the largest contract chipmaker in the world, reported a record net quarterly profit of 572.5 billion new Taiwan dollars (US$18.1 billion) for the first three months of the year, better than analysts had expected.