The company revealed net income rose 57% for the final quarter of 2024, while revenue increased 37% to almost $27 billion.

Taiwan Semiconductor Manufacturing reports a 57% jump in profit on strong demand for hardware to power AI systems.

Taiwan Semiconductor Manufacturing reported a 57% rise in profit on strong demand for hardware to power AI systems.

Taiwan Semiconductor Manufacturing Co logged record quarterly profit on Thursday and said it expects robust revenue growth in the first three months of the year as demand surges for chips used in artificial intelligence processing.

Taiwan Semiconductor Manufacturing Co.’s profit in the December quarter topped estimates with a 57% rise, giving a boost to investors hoping to see the AI hardware spending spree extend into 2025.

The world’s largest contract chip maker reported another record quarter as it continued to ride the AI wave while navigating the U.S.-China chip rivalry.