ASML’s story is one of quiet dominance at the heart of global tech. Founded in the Netherlands in 1984, ASML started as a joint venture between Philips and ASM International. Over the decades, it evolved into the sole supplier in the world of extreme ultraviolet (EUV) lithography machines, which are essential for manufacturing the most advanced semiconductor chips (like those powering AI, smartphones, and data centers).
These machines are marvels of engineering, costing up to €350 million each, with components sourced globally and assembled with near-impossible precision. Only a handful of customers—TSMC, Intel, Samsung—can afford and operate them, giving ASML an unmatched technological moat.
Its importance has made ASML a strategic asset in the geopolitical chessboard, especially as the U.S. and China battle over chip dominance. The company is now caught in the middle: crucial to the West, coveted by China, and irreplaceable to all.
In short: ASML isn’t just a supplier—it’s the keystone of the modern digital economy. That’s why its valuation is so high, and why its future is both promising and politically sensitive.
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