Taiwan Semiconductor Manufacturing Co. (Taiwan Semiconductor Manufacturing Co., 2330.TW, TSM, referred to as TSMC) rose sharply in early trading on Tuesday, after Warren Buffett's Berkshire Hathaway Inc. Berkshire Hathaway Inc., BRKA) disclosed that it bought a stake in the Taiwanese chipmaker.
Berkshire Hathaway bought just over 60 million American depositary shares in TSMC for more than $4.1 billion in the quarter ended September, the U.S. companies said in a filing late Monday.
TSMC's profits have been resilient despite negative impacts from the broader chip industry.
The world's largest contract chipmaker's third-quarter net profit rose 80 percent to an all-time high of NT$280.9 billion. The company has won a one-year waiver from new U.S. restrictions on the chip industry.
