Massive interest in artificial intelligence, or AI, has led Europe's largest technology company to predict annual sales growth of between 8 percent and 14 percent during the coming five years, despite strict curbs on its exports to China.

Netherlands-based computer chip equipment maker ASML Holding NV, which specializes in advanced chip-making machines, said on Thursday AI's expansion has triggered a strong demand for its most advanced tools. But the company could face additional challenges in the years ahead, especially over its sales to China, in the wake of Donald Trump returning as president of the United States.

Chief Executive Christophe Fouquet said in a statement: "We expect that our ability to scale EUV technology into the next decade... positions ASML well to contribute to, and leverage the artificial intelligence opportunity."

EUV, or extreme ultraviolet lithography, is a technology used in the semiconductor industry for the manufacture of integrated circuits. Fouquet said ASML expects to deliver significant revenue and profitability growth.

Reuters said analysts found the company's statement, issued as it opened its annual investor day in Veldhoven, in the Netherlands, "reassuring".

ASML said it expects to realize revenue of between 44 billion and 60 billion euros ($46 billion to $63 billion) by 2030.

The company added that it expects growing demand for AI will boost global chip sales to more than $1 trillion by 2030.

Reuters said analysts welcomed the prediction after having been disappointed by the company's third-quarter earnings due to delayed orders from customers, including Intel and Samsung. The third-quarter results triggered a sell-off of the company's shares and those of several other chip-related businesses.

Chipmakers, including ASML's largest customer, TSMC of Taiwan, use the company's EUV tools to create circuitry and ASML's products are seen as crucial to the future health of global supply chains. But the enterprise has been blocked from selling its EUV equipment and several other types of equipment to China, because of rule changes Trump introduced during his first term in office that have been largely supported by the Netherlands government.

While ASML's sales to China contributed almost 50 percent of its total sales income in the recent past, the company now expects its China sales to contribute only around 20 percent of its total sales.

The company is still able to export older technology to China, but it is not yet known whether Trump has plans to even remove that concession.

ASML is currently the only company in the world making the type of lithography machines used by semiconductor companies in the production of the most advanced types of chips used to power items including Apple's smartphones and Nvidia's AI accelerators and is seen as a very accurate indicator of the health of the entire sector.