TSMC set to report strong profit driven by AI boom

Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 42% leap in third-quarter profit on Thursday thanks to soaring demand. TSMC is set to report a net profit of T$300.1 billion ($9.33 billion) for the quarter ended Sept. 30, according to an LSEG SmartEstimate drawn from 23 analysts. TSMC last week reported a jump in Taiwan-dollar denominated third-quarter revenue, easily beating market expectations.