ASML Racing to Meet Insatiable AI Chip Demand as Orders Stretch to 2030

ASML is scrambling to expand its manufacturing capacity as demand for the advanced chipmaking equipment essential to the AI boom continues to surge, with customers already discussing orders stretching into 2029 and 2030. Intesa Sanpaolo analyst Antonella Frongillo joins Ed Ludlow on "Bloomberg Tech" to explain why semiconductor equipment makers are seeing such unprecedented visibility into future demand. Frongillo discusses the factors driving this extraordinary demand cycle and why she remains bullish on ASML's prospects despite headwinds from its China business and new regulatory restrictions. The company's extreme ultraviolet lithography machines are critical for producing the most advanced AI chips, making ASML a key bottleneck—and beneficiary—of the global AI arms race. The conversation also explores the geopolitical dimensions of the semiconductor supply chain, including export controls and the challenges of maintaining technological leadership amid rising tensions between major powers. As AI capabilities continue to advance, ASML's ability to scale production could become a determining factor in how quickly the next generation of AI systems reaches the market.