ASML valuation nears €1 trillion as AI chip demand surges

The global artificial intelligence boom has propelled Dutch semiconductor equipment giant ASML to the forefront of Europe's stock market, with analysts and investors now seriously considering whether it could become the continent's first trillion-dollar company. The speculation follows a strong second-quarter earnings report and an upgraded revenue forecast, driven by insatiable demand for the advanced chips that power AI systems.

ASML reported second-quarter revenue of 9.3 billion euros and a net profit of 2.9 billion euros on July 15. The company shipped 86 new lithography systems during the quarter. Citing continued strong customer orders, Chief Executive Christophe Fouquet said chipmakers are accelerating capacity expansion for AI, prompting ASML to raise its full-year financial outlook for a second time in 2026. The company now forecasts revenue between 43 billion and 45 billion euros for the year, a significant increase from its earlier guidance of 36 billion to 40 billion euros.

The company's pivotal role stems from its monopoly on extreme ultraviolet (EUV) lithography systems, the only machines capable of etching the minute circuitry required for the world's most...