Nepal, Oct. 16 -- Taiwanese tech titan TSMC reported Thursday a record net profit for the third quarter on skyrocketing demand for microchips used to power iPhones and artificial intelligence.

Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, has been a massive beneficiary of the frenzy in AI investment.

TSMC's clients Nvidia and Apple are among firms pouring many billions of dollars into chips, servers and data centres, fuelling concerns about a financial bubble.

"AI demand actually continues to be very strong -- stronger than we thought three months ago," TSMC chairman and chief executive CC Wei told a briefing.

TSMC said net profit for the three months to September soared 39.1 percent from a year a...