ASML has identified artificial intelligence as a central and long term growth driver in its 2025 annual report, marking a notable shift in tone from the previous year when the semiconductor equipment giant emphasized the cyclical nature of the chip industry. The Dutch
Global demand for semiconductor manufacturing equipment remained strong in 2025, but China is no longer the growth engine it once was for Europe’s largest chipmaking tools supplier. After a year of double digit sales growth, ASML signaled that its already declining exposure to
China’s long-standing challenge in advanced chip manufacturing has always centered on lithography, the crucial process that defines how small and powerful semiconductors can become. With access to ASML’s most advanced machines cut off by US export rules, China has been searching for domestic
