THE RACE TO MAKE THE WORLD'S MOST IN-DEMAND MACHINE

Summary from the TLDR newsletter

Big tech's AI infrastructure buildout depends on a single Dutch company, ASML, which is the world's only supplier of the complex machines needed to make cutting-edge chips at scale. ASML is currently racing to meet the industry-wide surge in demand. It is building new facilities, repurposing existing clean rooms, and working on more advanced machines capable of churning out more chips. It is also hiring more engineers while cutting leadership roles to speed up decision-making. The boom has helped cement ASML's position as Europe's most valuable company.