The semiconductor industry’s roadmap for the next decade has taken a concrete step forward. ASML Holding NV, the Dutch manufacturer of critical chipmaking equipment, has delivered its first next-generation lithography system to a Belgian research center. This move initiates the industry-wide preparation for manufacturing semiconductors with features smaller than 2 nanometers, a frontier essential for future advanced computing and artificial intelligence.
A Foundational Tool for Future Technology
The installation of the cutting-edge EXE:5200 High-NA EUV machine at the imec research institute in Leuven is more than a simple equipment delivery. It represents the cornerstone of Europe’s strategic push for technological sovereignty, supported by the European Chips Act. The system, valued at approximately $400 million, is the most advanced of its kind and will enable the development of significantly more powerful and energy-efficient chips. These components are fundamental for the next wave of computationally intensive AI applications.
imec anticipates fully qualifying the complex tool by the fourth quarter of 2026. Following this development phase, ASML’s CEO Christophe Fouquet has targeted the 2027-2028 timeframe for the commencement of high-volume manufacturing at the company’s leading-edge customer facilities.
Broad Industry Adoption Underway
The activity in Belgium is part of a larger, 2.5-billion-euro NanoIC pilot line initiative. Simultaneously, major chipmakers are not waiting to begin their own upgrades. Industry giants including Intel, SK Hynix, and Samsung have either taken initial delivery of these High-NA systems or expect their first units to arrive in the first half of 2026. This widespread early adoption underscores the strategic importance of the technology.
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Demand for ASML’s high-margin EUV systems is already a primary business driver. In the fourth quarter of 2025 alone, EUV system orders accounted for over half of the total bookings, reaching 7.4 billion euros.
Shareholder Returns and Financial Fortitude
Alongside its technological execution, ASML continues to demonstrate capital discipline attractive to investors. The company is actively repurchasing shares under a program extending to 2028, with an authorization of up to 12 billion euros. In mid-March alone, ASML bought back approximately 125 million euros worth of its stock, providing consistent support for the share price.
While the equity retreated by 3.43% to 1,136.60 euros in Friday’s trading, it maintains a substantial year-to-date gain of nearly 68%.
With projected total revenue for 2026 forecast between 34 and 39 billion euros, ASML’s growth trajectory remains well-defined. The successful installation at imec now provides tangible evidence that the transition to the next technology node is proceeding on schedule, laying the commercial groundwork for future revenue leaps in the High-NA segment.
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