ASML, a key supplier of chip-making equipment, will report its Q4 earnings on Jan. 31.

Investors are concerned about the company’s growth outlook for 2025, particularly due to the impact of DeepSeek’s new AI model, which uses less computing power than its rivals.

This has raised questions about tech companies’ spending on AI chips.

Uncertainty over potential US export restrictions on ASML’s older DUV products to China under President Trump’s policies further complicates the outlook.

ASML expects its 2025 sales to reach €30-35 billion (around US$31.06-36.22 billion), driven by AI chip demand, but investors are focused on bookings for confirmation of this growth.