ASML CEO Fouquet on AI, China, Chips, US Restrictions

ASML CEO Christophe Fouquet discusses artificial intelligence, the market in China, as well as US pressure on allies further restrict sales of semiconductor technology to Beijing. Speaking to Tom Giles at the Bloomberg Tech Summit in London, Fouquet also says he is not considering moving a large part of the company's operations outside of the Netherlands.

00:00 - Intro
00:38 - ASML CEO on AI and long-term, short-term opportunities
02:33 - ASML CEO on company's performance, 2025-2026 growth
04:18 - ASML CEO on China market, semiconductor manufacturing
06:52 - ASML CEO on export controls on China, US restrictions, EUV limits
11:56 - ASML CEO on China restrictions, national security concerns
14:31 - ASML CEO on Netherlands, Dutch government and anti-immigration policies, labor migration, Draghi report
16:52 - ASML CEO on supply chain across Europe, want to keep research, manufacturing close in the Netherlands
18:42 - ASML CEO says he won't consider moving large part of operation outside of the Netherlands
19:30 - ASML CEO on European targets, capacity, Asia as key manufacturing place for semiconductors
21:01 - ASML CEO on 2024 US Election, export control on China
22:50 - ASML CEO on new High NA EUV, price tag, demand expectations
25:39 - ASML CEO on supply chain
27:13 - Thank yous
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[lumeerb]

How to turn customer into competitor...

[lijackson-xr]

1st time: ASML- "Even if you are given a complete blueprint, you can't build a lithography machine."
2nd time: In January 2022, ASML President Peter Wennink said, "It is unlikely that China will independently develop top-level lithography technology, but it is not impossible, because I know that the laws of physics are the same in China and here. Never say never, they will definitely try."
3rd time: In early April 2023, ASML President Peter Wennink accused China of self-developed lithography machines as "destroying the global chip industry chain", implying that China should abandon independent research and development and rely on equipment and services provided by ASML.
4th time: At the end of April 2023, ASML Peter Wennink said, "In the face of the semiconductor export controls led by the United States, it is reasonable for China to seek to develop its own semiconductor manufacturing equipment." He also pointed out that "the so-called security plans of some countries will inevitably lead to a chain reaction in the semiconductor industry, especially the chip subsidy policy introduced by the United States and Europe, which has led to the current oversupply of chips. He also emphasized that "competitors may produce the most advanced lithography machines, so it is absolutely necessary for ASML to enter the Chinese market. ”
5th time: In June 2023, ASML - China's lithography machine technology was "stolen" .
* within 4 years, China has already got DUV on her own, and Chinese EUV is ready to be released by next year.

[dewensun]

The one question they didn’t discuss is how they are going to fill the hole in revenue when they lose more and more Chinese business. This should be the only relevant question for the CEO of a company

[PdP]

Speaks about Chinese chip production the way german car manufacturer used to speak about Chinese cars.

[sawadeeh]

The CEO says nothing with a lot of words.

[ximinghu]

Anybody who knows the story about the early cooperation between China and Europe in Galileo project (European satellite navigation system) would easily conclude that the same thing would happen to ASML, it’s just a matter of time for Chinese to catch up and ultimately overtake the ASML in lithography. Today the Chinese satellite navigation system Beidou/Compass is far far better than Galileo!

[safetydeskltd]

You could see the hate and disdain in his voice and even bragging about stopping China from having access to technology.
I hope Chinese never forgets this attitude at the right time.

[willgates]

He always avoids answering the question about impact of US restrictions having on the Dutch company on selling to China!!!!

[gfan]

ASML stock crash shown That losing the Chinese market will hurt ASML, worst is That Chinese companies are Becoming competitors whom selling DUVs at 10% at ASML prices.

[streamer]

Many commenters here seem to forget it's not ASML imposing restrictions. It's the USA. Will that work in the long term? No.

[ztz]

Forcing China to produce their own EUV = ASML committing suicide

[Oshea]

I think all this hurdles put on china is giving them the opportunity to home grow all the technology their lacking

[pjazzy]

The USA only does what is best for them. The EU should look out for its interests and anyone else. The power is moving East, it would be good to build good relations with them.

[MrTnylam]

ASML had said once upon a time that even if they gave the Chinese their blueprint, China would not be able to produce EUV machines....boy how times have changed.

[ragnarokws]

When China finally have their own version ''AMSL'' The West will once again cries and say China OVERCAPACITY 🤣🤣🤣🤣

[jw]

If ASML can't sell its best products to the 2nd biggest economy in the world, then it would be STUPID to buy its stocks.

[foodparadise]

Japan was China's little brother, culturally. If Japan can achieved what it achieved, China will do it 100X better. Expect more surprises the next 30 years.

[VinceCH]

Chinese are humble, they want to learn everything, always. And they just focus on making money rather than controlling another country. If they have the technology, it is a benefit for the whole world, 'cause they definitely drive the price down and everyone can benefit from more affordable products. Hope China can make their EUV machine.

[keefooyuen]

Stupid to shut out your major customers just to please Uncle Sam

[clifftanch]

National Security is the last refuge of a protectionist. Expect Trump to wave more vigorously the national security flag in a second term.