Reuters
Taiwan Semiconductor Manufacturing Co , the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 5% rise in first-quarter profit on Thursday thanks to strong demand. The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has helped it weather the tapering off of pandemic-led electronics demand and pushed TSMC's stock to a record high. TSMC is set to report a net profit of T$218.1 billion ($6.74 billion) for the quarter ended March 31, according to an LSEG SmartEstimate drawn from 22 analysts.