The Globe and Mail reports in its Friday, Oct. 18, edition that Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), the world's largest contract chip maker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54-per-cent jump in quarterly profit. A Reuters dispatch to The Globe reports that TSMC, the dominant producer of advanced chips used in artificial intelligence applications whose customers include Apple and Nvidia, has benefited from a surge toward AI. TSMC estimated its capital spending in the current quarter would more than double to about $11.5-billion (U.S.) and that the budget was likely to increase further next year. It said 2024 full-year revenue will grow close to 30 per cent in U.S. dollar terms, compared with a previous guidance of slightly above the mid-20-per-cent range. TSMC said revenue from AI processors is set to account for mid-teens percentage of its overall revenue this year. The company's robust performance and outlook underscore the continued strong demand for AI, after some industry watchers raised doubts following a lower than expected 2025 sales outlook earlier this week from ASML Holding, the world's biggest chipmaking equipment supplier.