ASML became Europe’s most valuable technology company during the 2024 AI-driven market rally.
ASML makes advanced lithography systems used to manufacture leading-edge computer chips. Its extreme ultraviolet, or EUV, machines are uniquely important for producing many of the smallest and most advanced semiconductor features.
The company’s market capitalization benefited from expectations that AI servers, accelerators, and data-center equipment would increase demand for advanced chips. ASML does not generally manufacture the processors consumers buy; it supplies crucial production equipment to chipmakers.
ASML’s position is often confused with that of a semiconductor foundry. A foundry fabricates chips for customers, while ASML designs and builds the specialized machines used by semiconductor manufacturers.