Chip giant TSMC sees net profit rise 60.3% in March quarter

Taiwanese chipmaking titan TSMC reported Thursday a surge in net profit for the first quarter and forecast robust demand for artificial intelligence technology, despite the spectre of US tariffs on the critical sector.

Taiwan Semiconductor Manufacturing Company is the world’s largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.

Demand for chips has soared in recent years on demand for AI technology, but there are fears US President Donald Trump’s far-reaching tariffs…