Nvidia supplier Taiwan Semi reports profit surge. AI capacity is ‘very tight,’ CEO says. - MarketWatch

1. TSMC reported 57% profit increase to NT$374.7 billion. 2. AI demand offsets smartphone sales downturn, boosting revenue forecasts. 3. Forecasts 1Q revenue of $25-$25.8 billion, exceeding analyst expectations. 4. Capital spending projected between $38 billion and $42 billion for 2024. 5. High-performance computing revenue surged 58%, indicative of industry growth.