TSMC's Profit Surpasses Estimates After AI Investment Surges
Taiwan Semiconductor Manufacturing Co.’s earnings beat lofty analysts’ estimates on growing AI investments around the world.Market expectations had risen in the weeks leading up to TSMC’s report on Thursday, with the AI frenzy and related investment showing no signs of slowing down.The chipmaker for Apple Inc. and Nvidia Corp. said net income rose to NT$247.8 billion . The average estimate was for a 29% increase, and many expected TSMC to hike its full-year outlook after sales jumped in the June