Taiwan’s chipmaker TSMC has reported a 58% jump in profit for the January-March quarter thanks to strong demand driven by the artificial intelligence boom even as the Iran war was driving up costs.

Wall Street closed out another winning week with a quiet Friday, as stocks found some stability after sliding the day before.

Shares are mixed in Asia after the rally on Wall Street fizzled with big declines for Tesla, Netflix and other big tech-oriented stocks.

Asian shares are higher after technology companies powered the biggest rally on Wall Street since March.

TSMC, the biggest contract manufacturer of processor chips for Apple Inc. and other global brands, says its latest quarterly profit rose 11.2% over a year earlier to $4.8 billion as demand for smartphones and consumer electronics increased.