Taiwan Semiconductor Manufacturing Company (TSMC) reported a significant 54.2% increase in net profit for the third quarter of 2024, reaching NT$325.26 billion (approximately $10.1 billion), exceeding analysts' expectations. This growth is attributed to the surging demand for AI technology and semiconductors, particularly driven by sales of Nvidia's AI chips and advanced processors for Apple's iPhones. TSMC's revenue also saw a robust 39% year-on-year increase, totaling NT$759.69 billion, with a gross margin improvement to 57.8%. The company continues to dominate the chip market, significantly impacting Taiwan's economy, while also investing to expand production capacity, especially in the U.S. The stock price has risen by 75% this year due to favorable market conditions.