ASML examining ways it can make more than 110 EUV tools in 2028, JPMorgan says

AMSTERDAM, Sept 14 — ASML is looking at ways to ​produce more than 110 of its EUV chip-printing tools in 2028 to meet AI-driven ‌demand, JPMorgan analysts said on Monday after meeting the ⁠firm's CFO. ASML ​has said it is ⁠nearly sold out of the machines ‌for 2027 and ‌can make at least 80, while targeting ⁠a 30% increase ⁠in 2028.

• "Management indicated that demand remains very very strong," JPMorgan analysts wrote in a note, adding that most orders are now for EUV machines to be delivered in ‌2028.

• JPM said ASML's ​limiting factor is its speed of EUV assembly, not supply chain

• Intel seen "becoming a meaningful customer again" in 2027 with new customers including Musk's Terafab "developing"

• Use of EUV measured by "intensity," or usage per chip, is ​increasing in current cycle

• Adoption of next-generation ‌High NA ‌tools ⁠will start in 2028 but "more meaningfully over the next decade".

• Sales to Chinese memory chip makers will be stronger in 2027

• Given ‌laser advances, ASML ​sees no reason to ‌try new "FEL" light ⁠source ​favored by Musk

(Reporting by Toby Sterling; Editing by Alexander ​Smith)

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