TSMC Posts 60% Surge In First Quarter Profit.

TSMC the world’s largest contract chipmaker, posted a 60% jump in first-quarter net profit.

The profit, beating market forecasts as it benefited from surging demand for semiconductors used in artificial intelligence applications.

Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia saw January-March net profit rise to T$361.6 billion ($11.12 billion) from T$225.5 billion a year earlier.

REUTERS/Christopher Ojilere