ASML, the semiconductor-equipment maker often ranked among the world's most valuable companies, was established in 1984.
ASML began as a joint venture between Philips and ASM International in the Netherlands. The name originally referred to Advanced Semiconductor Materials Lithography, reflecting its focus on lithography systems used to print patterns onto semiconductor wafers.
The company became especially important through its extreme ultraviolet, or EUV, lithography machines. These systems use extremely short-wavelength light to help chipmakers produce advanced processors with smaller features. ASML is the only commercial supplier of EUV lithography systems.
ASML does not primarily design consumer chips such as CPUs or GPUs. Instead, it builds the highly specialized machines used by chip manufacturers. That distinction is why the company can be central to the semiconductor industry even though its products are rarely seen by consumers.