ASM Orders Beat Estimates on Artificial Intelligence Boom
- ASM sees 10% higher revenue in 2024, strong demand next year
- Shares gain as much as 8.1% in Amsterdam trading after report
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ASM International NV’s orders beat estimates in the third quarter as the artificial intelligence boom drives demand for the Dutch firm’s advanced chipmaking tools.
Orders increased 30% from a year earlier to €815.3 million ($881 million), ASM said in a statement on Tuesday. That compared to an average analyst estimate of €768 million in a Bloomberg survey.