Shares of ASML Holding NV, a leading supplier of semiconductor manufacturing equipment, soared 9.17% in pre-market trading on Wednesday, driven by the company's outstanding fourth-quarter results fueled by the artificial intelligence (AI) boom.
ASML reported order bookings of €7.09 billion ($7.4 billion) in the fourth quarter of 2024, more than twice the average analyst estimate of €3.53 billion. The Dutch company attributed the strong orders to surging demand for its advanced extreme ultraviolet (EUV) lithography machines, which are essential for manufacturing the most advanced chips powering AI applications.
According to ASML, order bookings for its EUV systems alone reached €3 billion in the fourth quarter, underscoring the intense competition among tech giants and startups alike to build out cutting-edge AI capabilities. The company's Chief Executive Officer Christophe Fouquet stated, "AI is the clear driver," adding that ASML believes "AI is creating a shift in the market and we have seen customers benefiting from it very strongly."
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