FILE PHOTO: FILE PHOTO: Logo of ASML is displayed at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo/File Photo
AMSTERDAM, July 20 : The global artificial intelligence boom has propelled ASML to the top of Europe's stock market, as soaring demand for AI computer chips flows to the Dutch company that dominates the market for the equipment needed to make them.
After blowout second quarter earnings, investors and analysts are asking a once far-fetched question: could ASML become Europe's first ever trillion-dollar firm?
Key obstacles include doubts over how long Google, Amazon, and other hyperscalers will keep spending heavily on data centres, and whether ASML, its suppliers and customers such as TSMC and Samsung can execute expansion plans.
But after ASML shares spiked 60 per cent this year to push the firm close to a $700 billion valuation, investors and analysts say the trillion-dollar scenario is plausible.
"I think it has a really good chance of being the first company in Europe to hit the trillion mark," said Carolyn Bell, lead portfolio manager for Stonehage Fleming's Global Best Ideas, adding ASML accounted for about 8 per cent of the portfolio.
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