The CEO of Taiwan Semiconductor Manufacturing (TSM) has stated that the company's global chip supply will be unable to meet the demand driven by artificial intelligence for the next several years, a situation that is expected to continue supporting its revenue growth.

Speaking at the company's annual shareholder meeting on Thursday, CEO C.C. Wei indicated that even with the addition of new production capacity in the United States, TSM cannot satisfy the demand, which primarily originates from its U.S. clients. He reiterated the company's expectation for sales growth to surpass 30% this year.

Taiwan Semiconductor Manufacturing manufactures the most advanced semiconductor chips for companies like Nvidia and AMD. The company has been expanding its production footprint outside of Taiwan to increase output, yet this remains insufficient to meet the market's appetite for chips. Major U.S. tech companies have planned capital expenditures as high as $725 billion this year, largely focused on AI.

Wei stated that it will still take a very long time to fulfill customer demand.

During the Thursday meeting, Wei also reaffirmed that employee bonuses at TSM are projected to increase by more than 30% this year.