Morris Chang, founder of Taiwan Semiconductor Manufacturing Co. (TSMC), acknowledged upcoming obstacles due to stricter semiconductor trade restrictions between the US and China.

Despite these hurdles, TSMC expects record revenue this year, driven by the demand for AI applications.

TSMC, a key chip supplier for companies such as Apple and Nvidia, dominates the AI accelerator market.

The company’s stock has increased significantly since the launch of OpenAI’s ChatGPT in late 2022.