Amsterdam:Dutch semiconductor equipment maker ASML has increased the lower end of its full-year sales forecast, driven by strong demand for artificial intelligence technologies. This demand is prompting customers to express interest in orders as far ahead as 2029 and 2030.

According to Anadolu Agency, ASML reported a third-quarter net profit of £4.96 billion ($5.55 billion), surpassing analysts' expectations. However, net sales reached £11.66 billion, slightly below projections. The company has adjusted its annual net sales forecast to range between £44 billion and £45 billion, up from the previous range of £43 billion to £45 billion. For the fourth quarter, ASML projects net sales between £14.2 billion and £15.2 billion.

CEO Christophe Fouquet noted that customers are increasing their equipment demand forecasts in the short and medium term, reflecting expectations for ongoing AI-related investments. Fouquet highlighted that some customers are already considering orders for 2029 and 2030, indicating a strong demand outlook beyond the next few years.

ASML anticipates that its planned supply for 2027 and 2028 will not fully meet customer demand and is exploring options to expand capacity for 2028 beyond the previously planned 30% increase. As the sole producer of extreme ultraviolet lithography machines, ASML plays a critical role in the production of advanced semiconductors, used by major chipmakers like Taiwan Semiconductor Manufacturing Company.

The company's performance is closely monitored for insights into semiconductor industry investment trends, particularly in AI infrastructure. During the quarter, TSMC and Samsung committed to using ASML's next-generation High NA EUV machines for producing more advanced chips.

ASML also maintained that China will contribute 20% of total sales, despite facing export restrictions on its EUV machines and certain deep ultraviolet lithography systems to the country, where there is a push to develop domestic chipmaking capabilities.