ASML raises sales outlook as AI demand drives customer interest through 2030

Dutch semiconductor equipment maker ASML raised the lower end of its full-year sales forecast Wednesday, saying strong artificial intelligence demand was prompting some customers to express interest in orders for 2029 and 2030.

The company reported third-quarter net profit of €4.96 billion ($5.55 billion), exceeding analysts expectations. Net sales totaled €11.66 billion, slightly below expectations.

ASML now expects annual net sales of €44 billion to €45 billion, compared with its previous forecast of €43 billion to €45 billion.

For the fourth quarter, the company projected net sales of €14.2 billion to €15.2 billion.

CEO Christophe Fouquet said customers continued to raise their short- and medium-term equipment demand forecasts, primarily reflecting their expectations for the scale and duration of AI-related investment.

Some customers were expressing interest in placing orders for 2029 and even 2030, he said, indicating demand visibility extending beyond the next few years.

Fouquet said ASML’s planned supply for 2027 and 2028 would not fully meet customer demand. The company was examining ways to expand capacity for 2028 beyond the 30% increase previously envisaged.

ASML is the world’s sole producer of extreme ultraviolet lithography machines, which chipmakers including Taiwan Semiconductor Manufacturing Company use to manufacture advanced semiconductors.

Its results are closely watched for indications of investment trends in the semiconductor industry, particularly spending linked to AI infrastructure.

During the quarter, TSMC and Samsung committed to using ASML’s next-generation High NA EUV machines, which support the production of increasingly advanced chips.

The company also maintained its forecast that China would account for 20% of total sales.

ASML faces restrictions on exports of EUV machines and certain less advanced deep ultraviolet lithography systems to China, where efforts to develop domestic chipmaking equipment have intensified.