ASML tops $500 billion market cap as TSMC plans to spend more

AMSTERDAM: ASML, the world’s biggest maker of equipment used to manufacture computer chips, crossed $500 billion in market value ‌for the first ‌time on Thursday, after top customer TSMC announced larger than expected capital spending plans to keep up with ‌booming demand for artificial intelligence chips.

TSMC hiked its planned capital spending to between $52 billion and $56 billion in 2026, blowing past market expectations of $46 billion according to analysts polled by Visible Alpha. That means up to 21% more money that could be used to buy chipmaking equipment.