SML

An ASML executive has said the Dutch chipmaking equipment giant currently sells none of its machines in Europe, despite being headquartered in the Netherlands. The remark highlights how European chip production remains minimal, with most of ASML's lithography systems going to foundries in Asia and the United States. The comments come amid ongoing European efforts to build up domestic semiconductor manufacturing capacity.

Investors are weighing ASML Holding, the Dutch maker of advanced chipmaking equipment, against Marvell Technology, the US semiconductor designer, as a pick for 2026. Both sit at the heart of the AI-driven semiconductor boom, and comparisons of their valuations, growth prospects and exposure to artificial intelligence demand are circulating among market watchers ahead of the new year.