By Nathan Vifflin and Toby Sterling
AMSTERDAM, April 15 (Reuters) – ASML, the world’s largest supplier of chipmaking equipment, on Wednesday reported stronger-than-expected first‑quarter earnings and lifted its 2026 revenue outlook, as artificial intelligence boosts demand for its tools.
“Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond …(and) our customers have increased their expected short- and medium-term demand for our products,” CEO Christophe Fouquet said in a statement.
The Veldhoven, Netherlands-based firm, Europe’s most valuable by market capitalisation, said 2026 revenue will be between 36 billion and 40 billion euros ($42 billion and $47 billion), up from previous guidance for 34 billion to 39 billion euros. Analysts forecast the figure at 37.7 billion euros, according to LSEG data.
Investors view ASML as a key “picks-and-shovels” play on AI, as it supplies key equipment to chipmakers such as TSMC, which produces processors for Nvidia and Apple.
Shares have risen 40% so far this year amid the rapid construction of data centres and a shortage of memory chips, both of which contribute to demand for ASML products.
Addressing concerns about ASML’s ability to keep up with demand, in a statement the company’s CFO said ASML should be able to ship 60 of its flagship low-NA EUV tools in 2026 – 25% more than in 2025 – and will have capacity to ship 80 in 2027.
ASML is the only maker of these EUV, or extreme ultraviolet lithography tools, which can cost $300 million each and are needed to create the tiny circuitry of advanced chips.
First-quarter earnings were 2.76 billion euros on sales of 8.76 billion euros. That was up from 2.36 billion euros on sales of 7.74 billion euros in the first quarter of 2025.
($1 = 0.8483 euros)
(Reporting by Toby Sterling in Amsterdam, Nathan Vifflin in Gdansk, editing by Milla Nissi-Prussak and Louise Heavens)