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TSMC Reports Record Profit, Gains Exemption From U.S. Chip Curbs on China

The world’s largest contract chip maker boosted by strong sales of its cutting-edge chips used in smartphones and other devices

A Taiwan Semiconductor Manufacturing Co. factory in Nanjing, China.Photo: str/Agence France-Presse/Getty Images

Taiwan Semiconductor Manufacturing Co. said that its third-quarter net profit rose 80% to a new record, and that it had been granted a one-year exemption from new U.S. restrictions on China’s chip sector, allowing it to keep expanding its facilities in the country.

The world’s largest contract chip maker’s strong performance in the quarter was due to strong sales of its cutting-edge chips used in smartphones and other devices, as well as higher margins.

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