ASML lifts 2026 forecast as surging AI demand boosts new orders for chip equipment

AMSTERDAM, April 15 (Reuters) – ASML (ASML.AS), opens new tab, the world’s largest supplier of chipmaking equipment, on Wednesday reported stronger-than-expected first‑quarter earnings and lifted its 2026 revenue outlook, as artificial intelligence boosts ​demand for its tools.

“Demand for chips is outpacing supply. In response, our ​customers are accelerating their capacity expansion plans for 2026 and beyond …(and) ⁠our customers have increased their expected short- and medium-term demand for our products,” CEO ​Christophe Fouquet said in a statement.

The Veldhoven, Netherlands-based firm, Europe’s most valuable by market ​capitalisation, said 2026 revenue will be between 36 billion and 40 billion euros ($42 billion and $47 billion), up from previous guidance for 34 billion to 39 billion euros. Analysts forecast the figure at ​37.7 billion euros, according to LSEG data.

Investors view ASML as a key “picks-and-shovels” play ​on AI, as it supplies key equipment to chipmakers such as TSMC , which produces processors for ‌Nvidia and ⁠Apple .

Shares have risen 40% so far this year amid the rapid construction of data centres and a shortage of memory chips, both of which contribute to demand for ASML products.

Addressing concerns about ASML’s ability to keep up with demand, in ​a statement the company’s ​CFO said ASML ⁠should be able to ship 60 of its flagship low-NA EUV tools in 2026 – 25% more than in 2025 – and will ​have capacity to ship 80 in 2027.

ASML is the only ​maker of ⁠these EUV, or extreme ultraviolet lithography tools, which can cost $300 million each and are needed to create the tiny circuitry of advanced chips.

First-quarter earnings were 2.76 billion euros on ⁠sales of ​8.76 billion euros. That was up from 2.36 ​billion euros on sales of 7.74 billion euros in the first quarter of 2025.

($1 = 0.8483 euros)