Taiwan computer chip maker TSMC reported Thursday that its profit in the last quarter rose 57%, buoyed by the artificial intelligence boom. The world’s biggest semiconductor manufacturer reported a net profit of 374.

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.

Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.

TSMC's new U.S. plant is unlikely to get the most advanced chip technology before factories in Taiwan due to complex compliance issues, local construction regulations and various permitting requirements,