Dutch chipmaker ASML Holding NV reported €7.09 billion (US$7.4 billion) in order bookings for Q4 2024, surpassing analysts’ estimates of €3.53 billion (US$3.68 billion).

The surge in demand was driven by AI growth despite concerns over China’s AI development.

This announcement follows a €19 billion (US$19.80 billion) drop in ASML’s market value earlier this week due to fears over DeepSeek, which claims to have developed a competitive AI model at a lower cost.

ASML continues to face US-led export restrictions, limiting sales of advanced lithography machines to China.

However, AI infrastructure investments by Meta, OpenAI, SoftBank, and Oracle could benefit ASML.

Taiwan Semiconductor Manufacturing Co. (TSMC), ASML’s largest client, also plans up to US$42 billion in spending for 2025, exceeding forecasts and signaling strong demand.

Recent ASML developments