ASML Hits Record High Amid AI Boom and Surging Demand for Chipmaking Tools

Despite export restrictions, China-bound shipments account for 39% of total system revenue in Q4 2023.

ASML, Europe's most valuable technology company, has seen its shares rally to a record high, driven by a resurgence in memory chipmakers' spending and surging demand for AI infrastructure.
ASML's machines are fundamental to modern chip manufacturing and are in high demand for the production of 2-nanometer chips, a next-generation technology that will make AI algorithms compute even faster.
Despite US and Dutch export restrictions to China, ASML saw China-bound shipments make up 39% of its total system revenue in the last quarter of 2023.
ASML's 2023 growth was 30% with total net sales of €27.6 billion, and an order backlog of €39 billion.
ASML expects 2024 to be a transitional year in preparation for future growth, with more robust results in 2025 as many fab ventures are opening and becoming operational.