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Taiwan’s leading computer chip maker, TSMC, said Thursday that its net profit surged nearly 40% in the last quarter, boosted by the surge in use of artificial intelligence. Taiwan Semiconductor Manufacturing Corp. is the world’s biggest semiconductor manufacturer. It reported a net profit of a record 452.3 billion new Taiwan dollars ($15 billion) in the July-September quarter, higher than analysts’ forecasts.

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TSMC, the world’s largest contract chipmaker, posted a 39.1% jump in third-quarter net profit on Thursday, beating market forecasts and hitting a record as it benefited from surging demand for semiconductors used in artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, whose customers include Nvidia and Apple, saw July-September net profit rise to T$452.3 billion ($14.76 billion). The profit handily beat a T$417.7 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

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