ASML raised its full-year 2026 revenue forecast to between €43bn and €45bn, up from a previous range of €36bn-€40bn, after second-quarter net sales of €9.3bn and net income of €2.9bn both exceeded analyst estimates. The results, published on Wednesday, underscore the intensity of the artificial-intelligence investment cycle reshaping the semiconductor industry.

The company attributed the upgrade to “extremely strong” order intake, as customers accelerate capacity expansion for AI-related chips. ASML plans to increase production of its low-NA EUV tools by 30% in 2027 from about 65 units in 2026, and is evaluating a further 30% rise in 2028. Immersion DUV system output will also be scaled up by 30% in 2027. Chief Executive Christophe Fouquet said the firm would use its Capital Markets Day in June 2027 to update long-term market and technology views.

A concrete sign of the technology’s advance came as Intel confirmed it is using ASML’s next-generation High-NA EUV equipment to manufacture parts of its Panther Lake processors on the Intel 18A node. Separately, a KeyBanc Capital Markets research note indicated that Intel’s 18A process yield has improved to 85%, trailing TSMC’s N2 at 90% but ahead of Samsung’s SF2 at 50-60%. The note suggested that the yield gains, combined with less favourable pricing from TSMC, are prompting Intel to bring 80-90% of its next-generation Nova Lake CPU tiles back in-house, reversing an earlier plan to outsource the majority to TSMC.

KeyBanc also pointed to a broadening of Intel’s foundry customer base, citing design wins from AMD, Nvidia, Marvell, Microsoft, Micron and OpenAI, as well as Apple for low-end M-series processors on 18A and 14A. While these claims remain unconfirmed by the companies involved, they illustrate the competitive dynamics that are driving demand for ASML’s lithography tools. The next milestone for investors will be ASML’s Capital Markets Day on 10 June 2027, where the company is expected to provide a detailed update on its medium- to long-term outlook.