ASML Raises Outlook, Plans More EUV Capacity

ASML delivered strong second-quarter results, exceeding guidance and raising its full-year outlook, aligning with SEMI’s forecast that global semiconductor equipment sales will reach a record $165.9 b... Read original →

ASML’s capacity expansion signals the advanced-node race has hit an inflection point. Technically, increased Low-NA EUV output will accelerate logic scaling to 2nm and HBM4 ramp, forcing EDA, photoresist, and mask suppliers to upgrade in lockstep; meanwhile, its high-margin installed base business underscores reuse economics as a critical cost lever for fabs. On compliance, tightening U.S. export controls compel ASML to re-prioritize shipments across the Netherlands, Taiwan, China, and mainland China, inflating access costs for non-U.S.-aligned foundries. Competitively, Nikon and Canon can’t fill the EUV void, but Tokyo Electron gains via integrated track systems; Intel Foundry risks losing AI chip mandates if it misses High-NA EUV volume by 2027. Over the next 18 months, surging capex will trigger structural bottlenecks—especially in HBM-driven memory—while ASML’s pricing flexibility and capacity dominance translate into geopolitical scarcity premiums.