Taiwan's Semiconductor Quarterly Profits Rise 77% to $22 Billion
Taiwan Semiconductor Manufacturing Company (TSMC) reported a quarterly profit of $22 billion, marking a 77% year-over-year increase and surpassing expectations, with quarterly revenues reaching $39.45 billion. The company, the world's largest manufacturer of electronic chips, continues to achieve record growth driven by strong demand for AI chips and 7-nanometer and smaller process technologies. On Thursday, the company's shares rose by 1.23%, part of gains exceeding 58% since the start of the year.
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