Taiwan chips giant TSMC is the latest to say it's benefiting from the demand for ChatGPT and the like.

On Thursday, the world's largest contract chipmaker said profits rose a better-than-expected 9% over the first quarter.

That saw them hit almost $7 billion.

The surge in AI demand has helped it cope with waning sales of gadgets, which had seen a boom during lockdowns.

It's a big supplier to companies including AI chip champion Nvidia.

Shares in the firm are up by more than a third this year on the back of all that.

It's now Asia's most valuable listed company.

Looking ahead, TSMC said it expected 2024 to be a year of healthy growth.

It's spending heavily to expand output in Arizona, backed by financial support from Washington.

The upbeat outlook gave shares in tech stocks a boost around the region.

Japanese chip gear maker Advantest jumped over 5% to become the day's top gainer on the Nikkei index.