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ASML stated that the artificial intelligence boom has not slowed down, with customers already ordering advanced chipmaking tools for 2029 and 2030. Despite plans to raise production capacity by 30% in both 2027 and 2028, CEO Christophe Fouquet warned the company would struggle to meet this demand. To address the pressure, ASML confirmed it will increase prices starting in 2027, with the full effect visible in 2028. The Dutch firm reported a net profit of €4.96 billion on sales of €11.7 billion for Q3 2026. Its shares rose 2% on Wednesday, bringing its market valuation to €586 billion, making it Europe’s largest company by value.

ASML serves major logic chip manufacturers like Samsung, Intel, and TSMC, as well as memory makers SK Hynix and Micron. CFO Roger Dassen noted they are still evaluating the details of a massive semiconductor facility called Terafab, which Elon Musk is building. This project aims to produce millions of chips and is expected to receive its first ASML tool in mid-2027. Gordon Kerr, a macro strategist at KBRA, acknowledged earlier concerns that AI investment might be losing steam but noted that demand remains strong through 2027.

Major tech companies including Google, Amazon, Microsoft, and Meta have collectively planned to spend $725 billion on capital projects in 2026, a 77% increase from the previous year. Alphabet, Amazon, and Meta have all raised their spending guidance for this year. Some of this increased spending reflects higher component prices, with Microsoft CFO Amy Hood attributing $25 billion of her company’s budget to rising costs. Analysts at Gartner project global AI spending will rise 49.5% in 2026 to reach $2.7 trillion and another 36.2% in 2027.