ASML remains the backbone of the global chip industry and is thus driving the AI boom of NVIDIA & Co. This is likely to continue after the record year of 2025.
• Technological monopoly: ASML makes AI boom possible
• ASML with record year
• Outlook for ASML: Further growth ahead
How ASML made the AI boom possible for NVIDIA & Co
ASML is considered the invisible engine behind NVIDIA & Co.’s AI boom. Today’s chip production would hardly be possible without the Dutch company’s highly specialized lithography technology. ASML is the world’s only manufacturer of EUV (“Extreme Ultraviolet”) lithography systems, which are essential for the production of state-of-the-art semiconductors. With a market share of around 90 percent, the company dominates the global lithography market and, according to analysts, has a de facto technological monopoly, as CNBC explains.
The technology is crucial for the production of high-performance chips, such as those used by NVIDIA with its Blackwell generation. The extremely fine structures are created when a laser transforms melted tin droplets into plasma, which emits ultraviolet light – this is then precisely projected onto silicon wafers using mirrors and masks.
Meanwhile, competitors such as Nikon and Canon only play a role in older production steps. Analysts like Morningstar’s Javier Correonero believe catching up is “virtually impossible” because ASML has invested billions in research and development over three decades, CNBC continued.
ASML benefits from AI boom
ASML recorded another record year in 2025 with total net sales of 32.7 billion euros and a gross margin of 52.8 percent. However, the fourth quarter was particularly strong:
ASML significantly exceeded expectations in Q4: order intake doubled to 13.2 billion euros, of which 7.4 billion euros were for EUV systems, as can be seen from the corresponding quarterly report.
Revenues in the final quarter of 2025 rose from around 7.5 billion euros in the previous quarter to 9.7 billion euros. The company thus exceeded analysts’ expectations. The gross margin improved by 0.6 percentage points to 52.2 percent quarter-on-quarter, meaning ASML also performed better than expected. Order intake developed strongly: ASML brought in new business worth almost 13.2 billion euros. Analysts had expected around half.
“In recent months, many of our customers have become significantly more positive about the medium-term market situation, especially due to increased expectations regarding the sustainability of AI-related demand. This is reflected in a significant increase in their medium-term capacity planning and in our record order intake,” explains Christophe Fouquet, President and CEO of ASML.
This is how things should continue for ASLM
The next technological stage is already in the starting blocks, as CNBC further reports: EUV systems with high numerical aperture (high-NA), which cost between 320 and 400 million euros per piece, are expected to go into series production by 2027/2028, according to analyst Javier Correonero. Intel is likely to play a key role as the first industrial user.
The success story also continues on the stock market. After a price increase of 35 percent in 2025, ASML shares have gained a further 30 percent since the beginning of the year. The paper recently cost 1,193.80 euros. With a market capitalization of around 463.37 billion euros, the Dutch company is one of the most valuable in Europe (data as of February 6, 2026).
The British investment bank Barclays is also much more optimistic about the ASML share: Analyst Simon Coles recently increased the price target from 1,200 to 1,500 euros and upgraded the share from “Equal Weight” to “Overweight”. Coles emphasized that expectations were already high before the figures were presented, but that the order record in the fourth quarter clearly exceeded them. He now expects market expectations to rise significantly and describes the company’s outlook as rather conservative, which signals further upward potential for ASML shares. TSMC, ASML’s largest customer, also plans to increase capital spending by 37 percent to $56 billion in 2026, according to MarketScreener.
The CEO also expects “that 2026 will be another year of growth for ASML, driven primarily by a significant increase in EUV sales and growth in our installed equipment sales. We continue to invest in people and infrastructure to support this growth in 2026 and beyond.”
“We expect total net sales of between 8.2 and 8.9 billion euros for the first quarter of 2026 with a gross margin of between 51 and 53 percent. […] For the full year 2026, we expect total net sales of between 34 and 39 billion euros with a gross margin of between 51 and 53 percent,” said Fouquet.
According to CNBC, analysts assume that demand for advanced AI chips and the expansion of global data centers will continue to drive orders in the coming years – ASML remains a key beneficiary of the global AI and semiconductor boom.
Editorial team finanzen.net
This text is for informational purposes only and does not constitute an investment recommendation. finanzen.net GmbH excludes any claims for recourse.
By the way: Intel and other US stocks can even be traded on finanzen.net ZERO until 11 p.m. (without order fees, plus spreads). Open a depot now for free and secure a new customer bonus!
Selected leverage products on ASML NV
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on ASML NV
The leverage must be between 2 and 20
Advertising