ASML’s tools are indispensable to modern chipmaking. Firms like TSMC, Sams noung and Intel rely on them to produce cutting-edge processors, from AI accelerators to smartphone chips. No other company makes machines that can reliably print chips that are called “7 nanometres” (billionths of a metre) and below (though these terms once related to physical resolution, they are now primarily used for marketing). Even for more mature technologies (“14nm” and higher), the firm’s tools account for over 90% of the market.