TSMC Q4 profit decline beats estimates as AI demand provides support

TSMC Q4 profit beats estimates as chip sales rise

Taiwan Semiconductor Manufacturing Co (TSMC) reported a smaller-than-expected decline in its fourth-quarter profit, thanks to increased sales of its most advanced chips. The world’s largest contract chipmaker witnessed a boost in revenue as demand for its 3-nanometer chips, which are described as the industry’s most advanced semiconductor technology, improved. This trend is indicative of a growing market for high-performance computing chips, driven by the increasing interest in artificial intelligence (AI) development.