The largest chip maker TSMC saw its profit increase by half. He was helped by his interest in understanding Forbes

Taiwanese semiconductor manufacturer Taiwan Semiconductor Manufacturing increased net profit by 54 percent to 325.3 billion Taiwan dollars in the third quarter, about 236 billion crowns.

It has sparked interest in artificial intelligence, as TSMC dominates the supply of advanced chips for these applications. The company, which is the largest contract manufacturer of semiconductors in the world, said this in its statement communication on Thursday, October 17. Both profit and sales exceeded analysts’ estimates.

Analysts polled by LSEG SmartEstimate had forecast a profit of NT$300.2 billion.

Revenue for the third quarter rose 36 percent year over year to $23.5 billion, which is a better result than the company’s previous estimate of $22.4 to $23.2 billion. TSMC is the most valuable publicly traded company in Asia. The company had already announced third quarter revenue in New Taiwan dollars last week, which reached 759.69 billion New Taiwan dollars.

TSMC is spending billions of dollars to build new factories abroad, including sixty-five billion dollars for three plants in the US state of Arizona. But the company assured that most of the production will remain in Taiwan.

On its last earnings conference call in July, the company raised its full-year revenue estimate. He also revised capital spending plans for this year to between $30 billion and $32 billion, down from a previous estimate of $28 billion to $32 billion.

The second half of the year is traditionally the peak season for Taiwanese technology companies. They are racing to deliver to customers ahead of the Christmas holiday in key Western markets, Reuters reported.

TSMC shares, traded in Taipei, have gained about seventy-five percent since the beginning of the year, while the market in general has strengthened twenty-eight percent.

TSMC is probably known in Taiwan as the “holy mountain that protects the country” because it plays a major role in Taiwan’s export-dependent economy. There is only weak competition, although American Intel and South Korean Samsung are trying to challenge its leading position.