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ASML shares hit record high as AI demand fuels orders

Dutch chipmaking equipment group predicts ‘significant increase’ in sales this year

ASML has forecast bumper sales of its chip manufacturing equipment this year on the back of the AI boom, building on a blockbuster fourth quarter and sparking a rally across the tech sector on Wednesday.

The Dutch group’s stranglehold on the market for the lithography equipment needed to produce cutting-edge chips has made it Europe’s most valuable company and a big winner from the surge in AI investment.

Chief executive Christophe Fouquet said the group expected a “significant increase” in sales of its Extreme Ultraviolet machines this year, after fourth-quarter orders smashed analysts’ expectations.

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