Taiwan chipmaker TSMC says quarterly profit $8.8 billion
Associated PressTAIPEI, Taiwan — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said Thursday that its quarterly profit rose 79.7% over a year earlier to a record $8.8 billion amid surging demand. The American Embassy in Beijing didn’t immediately respond to a question about whether TSMC had received an exemption that might allow normal supplies to Chinese factories to continue. “We are closely monitoring the situation to ensure we comply with all the rules and regulations.” TSMC’s chip supplies to China already were restricted under a 2020 order by then-President Donald Trump that prohibits vendors from using U.S. technology to manufacture for Huawei Technologies Ltd., a maker of network switching gear and smartphones. TSMC announced plans last year to invest $100 billion over the next three years in manufacturing and research and development.