The milestone puts the Netherlands-based company ahead of the previous record set by Danish pharmaceutical giant Novo Nordisk, whose market value peaked at roughly $650 billion (about €600 billion) in mid-2024. ASML is the world’s dominant producer of advanced lithography equipment and the only company capable of producing extreme ultraviolet, or EUV, lithography systems, which are used to manufacture the most advanced semiconductors. Investor enthusiasm has been fueled by rising demand for advanced chips used in artificial intelligence, data centers and high-performance computing, as well as expectations that ASML can expand output of its most important machines. Recent reporting has tied the rally to expectations for higher EUV output and continued AI-driven chip demand. The company’s rise underscores Europe’s central role in the global semiconductor supply chain, even as the industry remains dominated by US and Asian chip designers and manufacturers.
