Taiwan Semiconductor Manufacturing Co. posted fourth-quarter revenue that beat Wall Street estimates as the company keeps gaining from the artificial intelligence (AI) boom.

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.

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December sales at TSMC, the world's leading foundry, exceeded expectations at NT$278.16 billion (about US$8.44 billion) ...