TSMC , the world's largest contract chipmaker, posted a 60.7% jump in second-quarter net profit on Thursday, beating market forecasts and hitting a historic high as it benefited from surging demand for semiconductors used in artificial intelligence applications.

Taiwan Semiconductor Manufacturing Company Limited TSM, or TSMC, recently reported a record surge in second-quarter profit as it continues to benefit from the artificial intelligence (AI) megatrend. TSMC is also expected to grow further for three main reasons.

The world’s largest contract chip manufacturer TSMC, reported better-than-expected results as AI chip demand has been boosting the company's sales. View on euronews