Taiwanese chip making giant TSMC said Friday its net sales rose by more than a third last year, beating its own forecast, as the company continued to benefit from soaring demand for AI technology.

Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates as the company continues to get a boost from the AI boom. TSMC manufacturers semiconductors for some of the world's biggest companies from Apple to Nvidia.

The world's largest chip manufacturer reported fourth-quarter revenue of 868.5 billion New Taiwan dollars ($26.3 billion), according to CNBC calculations, up 38.8% year-on-year. T