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 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.

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.

TSMC, the Taiwanese company and world’s largest chipmaker, reported a net profit of $11.37 billion for the fourth quarter, representing a 57 percent year-on-year increase and the highest quarterly profit in the company’s history,

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.

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. Net revenue for the fourth quarter rose 38.

Taiwan Semiconductor Manufacturing Co, the main global producer of advanced chips used in artificial intelligence applications, is expected to report a 58% leap in fourth-quarter profit on Thursday because of surging demand.