ASML has become Europe's most valuable company thanks to its dominance in making lithography systems, huge "chip printing" machines that can cost up to $400 million each and are indispensable to companies driving the AI boom.
Advances in AI and a global buildout of data centres have led chipmakers to expand capacity rapidly. ASML supplies tools to TSMC, which makes chips for Nvidia, as well as to memory chip makers like SK Hynix, Samsung and Micron.
