TSMC's solid results bode well for one of its largest customers, which currently dominates the market for AI chips.

Taiwan Semiconductor Manufacturing Company (TSMC) said on Tuesday it has informed the United States of a potential attempt by Huawei to circumvent U.S. export controls prohibiting the chipmaker from producing AI chips for the Chinese company.

TSMC and other chipmakers are barred from doing business with Huawei without exemptions from the US government.

TSMC's blockbuster results should be a welcome surprise to investors after ASML's earnings sent semiconductor stocks tumbling earlier this week.

TSMC, the world's largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI).

Taiwan Semiconductor Manufacturing Co. raised its target for 2024 revenue growth after quarterly results beat estimates, allaying concerns about global chip demand and the sustainability of an AI hardware boom.

TSMC's financial report for the third quarter of 2024 has not only delivered impressive results, but its AI prospects have instilled high confidence in the market, subsequently boosting the operational outlook for semiconductor material distributors.

Taiwan Semiconductor Manufacturing Company (TSMC) said it has informed the United States of a potential attempt to have it manufacture AI chips for China's Huawei in circumvention of export controls,

Taiwan Semiconductor Manufacturing Company has reportedly informed the U.S. government about a potential attempt by Huawei to have it make artificial intelligence chips for the sanctioned Chinese tech giant.

Chinese foundry Semiconductor Manufacturing International (SMIC) has found itself in a precarious position following a recent TechInsights teardown report concerning a TSMC-manufactured 7nm chip in a Huawei AI accelerator.