Global AI rush helps ASML with orders, but China outlook dims

STORY: ASML expects to keep on benefiting from booming investments in AI.But the firm also warned Wednesday it sees a big fall in demand from China coming next year.ASML is the world's biggest supplier of computer chip-making equipment.Wednesday's middling guidance projected sales will be flat or better next year.Although analysts said this may be upgraded in January.The Dutch firm's net bookings hit $6.27 billion in the third quarter - just ahead of forecasts.The results came after a series of mega-deals between AI firms and chipmakers in September and October.Those agreements will likely mean more demand for chips.ASML CEO Christophe Fouquet said the firm is seeing "continued positive momentum around investments in AI."Although he added he expects Chinese customer demand and net sales to fall significantly next year.ASML denied the expected decline was due to previous stockpiling of chip machines by its Chinese customers.The company's lithography tools are important for chipmakaing, and sold to TSMC.The Taiwanese firm manufactures most AI chips for Nvidia and other logic firms like Intel.It also serves memory chip makers Samsung, SK Hynix and more.

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