Yazılar

ASML poised to benefit from AI megadeals and chip expansion wave

/in /tarafından

Dutch chipmaking equipment giant ASML is expected to benefit from a surge in AI-related megadeals between major technology firms and semiconductor manufacturers, with investors anticipating a strong outlook when it reports third-quarter earnings on Wednesday.

Analysts believe ASML’s top customers — including TSMC, SK Hynix, and Samsung — are preparing to ramp up production capacity through 2026 and beyond, driven by a global race to expand AI data centres. These expectations have already boosted ASML’s stock by 32% since early September, outpacing the Philadelphia Semiconductor Index, which rose 15% in the same period.

Forecasts compiled by Visible Alpha suggest new bookings — a key industry indicator — will total 5.36 billion euros ($6.21 billion) for the quarter, following 9.48 billion euros in the first half of the year. Meanwhile, net income is projected to rise 1.4% year-on-year to 2.11 billion euros, according to LSEG IBES data.

Recent multi-billion-dollar deals between NVIDIA, AMD, Intel, Samsung, Meta, and Oracle are fuelling optimism for ASML, whose machines — costing more than $300 million each — are essential for producing advanced chip circuitry.

However, analysts note that building fabrication plants can take several years. They want to hear whether ASML’s clients can accelerate these expansion plans amid rising demand. “Every memory chipmaker is likely to increase production capacity for AI,” said Michael Roeg of Degroof Petercam, citing Micron, SK Hynix, Samsung, and Chinese competitors.

ASML Becomes Largest Mistral Investor, Strengthening Europe’s AI Push

/in /tarafından

ASML (ASML.AS) has invested €1.3 billion ($1.5 billion) in French AI startup Mistral AI, becoming its largest shareholder with an 11% stake after the company’s latest €1.7 billion ($2 billion) funding round. The deal values Mistral at €11.7 billion, making it Europe’s most valuable AI company.

Deal Highlights

  • ASML gains a board seat on Mistral’s strategic committee, filled by CFO Roger Dassen.

  • The companies will integrate AI models into ASML’s semiconductor equipment portfolio.

  • Mistral, founded in 2023 by ex-Google DeepMind and Meta researchers, is central to France’s AI strategy.

Strategic Importance

  • The move pairs Europe’s leading chip supplier with its AI frontrunner, boosting ambitions for digital sovereignty against U.S. tech giants like OpenAI, Meta, and Google.

  • Despite progress, Mistral remains far smaller than U.S. peers — OpenAI’s potential valuation is estimated at $500 billion, more than 40 times higher.

  • ING analyst Jan Frederik Slijkerman said the tie-up provides “industrial rationale” for co-developing AI-based products, easier through partnership than in-house development.

Political & Industry Backing

  • ASML has strong French ties: it recently named former Finance Minister Bruno Le Maire as adviser, and its CEO Christophe Fouquet is French.

  • The deal reflects growing alignment between Europe’s industrial leaders and AI startups to bolster competitiveness in global tech.

Investors in the Round

Alongside ASML, backers include DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed, and Nvidia.

ASML shares rose 1% in early Amsterdam trading, giving the company a market value of €268 billion.

Applied Materials Misses Q2 Revenue Target as Export Controls Weigh on Sales

/in /tarafından

Applied Materials missed Wall Street expectations for second-quarter revenue, reporting $7.10 billion versus the estimated $7.13 billion, as U.S. export restrictions on semiconductor equipment to China and slower investment in certain markets impacted performance.

Shares of the Santa Clara-based chipmaking equipment giant fell more than 5% in extended trading following the earnings release.

Segment Performance and Key Challenges:

  • Revenue from Semiconductor Systems, the company’s largest business segment, came in at $5.26 billion, below analysts’ forecast of $5.32 billion.

  • Sales in the ICAPS market — covering IoT, communication, automotive, power, and sensors — slowed, although this was partially offset by strong demand for advanced-node chipmaking equipment.

Impact of Export Controls:

  • The U.S. government’s export restrictions, announced in December, now prevent shipment of advanced chipmaking tools to China — Applied Materials’ largest overseas market.

  • As a result, revenue from China fell to 25% of total sales, down sharply from 43% a year earlier.

  • Analyst Kinngai Chan of Summit Insights Group said the export controls are clearly impacting results, but added:

    “We think the company can overcome this headwind over time as spending on advanced process nodes picks up in the second half of 2025 and into 2026.”

Profit and Outlook:

  • Despite the revenue miss, adjusted Q2 earnings per share were $2.39, beating the $2.31 consensus.

  • Applied Materials provided Q3 revenue guidance of $7.20 billion ± $500 million, roughly in line with analyst estimates of $7.19 billion.

  • CFO Brice Hill downplayed concerns, stating:

    “Despite the dynamic economic and trade environment, we have not seen significant changes to customer demand.”

Summary:

While strong demand for advanced chips offers a long-term buffer, current headwinds from trade restrictions and market softness in core segments are affecting short-term performance. Investors remain cautious amid geopolitical friction and shifting global chip manufacturing strategies.