Chips that are powerful enough to run AI servers are in high demand, helping propel Taiwan Semiconductor Manufacturing’s stellar financial results. Shares of Taiwan Semiconductor Manufacturing Co. (TSMC) are up in premarket trading Thursday after the company announced its Q4 2024 earnings results.

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.

Taiwan computer chip maker TSMC has reported its profit in the last quarter rose 57%, buoyed by the artificial intelligence boom.

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

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.

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

TSMC, which makes chips for Nvidia, reported net income of $11.6 billion. Its CFO said this was supported by "strong demand" for its advanced chips.

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.

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.