ASML raises 2026 outlook as AI chip demand stays strong

ASML raised its 2026 revenue outlook after first-quarter sales topped expectations, a sign that AI infrastructure spending is still pushing deeper into the semiconductor supply chain. The Dutch equipment maker now expects full-year sales of €36 billion to €40 billion, up from a prior range of €34 billion to €39 billion.

First-quarter net sales reached €8.8 billion, net income was €2.8 billion and gross margin came in at 53.0%. ASML said it expects second-quarter sales of €8.4 billion to €9.0 billion and kept full-year gross margin guidance at 51% to 53%. Christophe Fouquet said the semiconductor industry’s growth outlook was “solidifying” because customers are accelerating AI-related infrastructure investments and expanding capacity plans for 2026 and beyond.

The update matters because ASML sits at one of the tightest choke points in global chip production. The company is the only maker of extreme-ultraviolet lithography machines, each of which can cost about $300 million and is required to produce the smallest circuitry in advanced chips. Those tools feed the output of companies such as TSMC, which in turn makes chips for Nvidia and Apple, so ASML’s guidance often reveals whether the world’s biggest chip builders are still committing to large-scale expansion or pulling back.

ASML said customers had increased their expected short- and medium-term demand, and the company said it should be able to ship 60 low-NA EUV tools in 2026, 25% more than in 2025, and 80 in 2027 if demand holds. That has direct consequences for the pace of AI buildout in the United States and elsewhere, because the faster ASML can place those machines, the faster foundries can expand advanced manufacturing capacity for accelerators, smartphones and data centers.

The company’s stronger outlook followed a record 2025, when revenue reached €32.7 billion and net income hit €9.6 billion. Fourth-quarter sales set a company record at €9.7 billion, and ASML said its 2025 dividend would rise to €7.50 per ordinary share, a 17% increase from 2024. The new forecast also came after shares had already climbed about 40% in 2026, underscoring how closely investors are watching ASML as a bellwether for the next phase of the AI chip race.