Taiwanese chipmaker TSMC posts 57% surge in profits thanks to AI boom

Semiconductor maker TSMC has said reported a hike in profits (Chiang Ying-ying/AP)

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

The world’s biggest semiconductor manufacturer reported a net profit of 374.7 billion new Taiwan dollars (£9.3 billion), higher than expected.