Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing.

Shares of Taiwan Semiconductor Manufacturing Co. (TSMC) are up in premarket trading Thursday on strong demand for its advanced chips.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. rose in premarket trading Thursday after the world's largest contract chip manufacturer posted better-than-expected fourth-quarter profit and a bullish outlook for artificial intelligence demand.