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.

With impressive growth in assets under management (AUM), which reached a record $11.6 trillion, BlackRock ended the quarter and fiscal 2024 on a high note.

Taiwan Semiconductor Manufacturing Co. on Thursday reported a record net profit of 374.68 billion New Taiwan dollars ($11.3 billion) for the fourth quarter, up 57% on the year thanks to strong demand for AI chips,

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 Company beat revenue and profit expectations in the fourth quarter on continued strong demand for AI chips.