New Delhi, Nov. 10 -- Taiwan Semiconductor Manufacturing Co. reported October revenue of NT$586.89 billion, or about US$17.88 billion, on Tuesday, as demand for advanced chips continued to benefit from heavy investment in artificial intelligence.

Sales rose 59.7% from a year earlier and 14.7% from September, according to CNBC's report on TSMC's monthly results. The figures measure revenue, rather than profit, and show growth against both the previous month and the same period last year.

AI investment supports advanced-chip demand

The world's largest contract chipmaker has benefited as major technology companies invest in AI infrastructure, supporting demand for advanced semiconductors. October's sales follow a strong third quarter, alt...