Taiwan Semiconductor Manufacturing Company (TSMC) reported a 54% increase in net profit for the July-September quarter of this year, reaching NT$352.3 billion (approximately US$10.1 billion).

The increase is primarily attributed to strong demand for semiconductors, particularly driven by applications in AI.

The company’s net revenue for the third quarter was US$23.5 billion, marking a 36% increase year-on-year.

TSMC’s capital expenditure rose to US$6.4 billion from US$6.36 billion in the previous quarter, reflecting TSMC’s effort to expand production capabilities to meet growing demand.