ASM Sales Forecast Beats Estimates as AI Boom Drives Demand
Chipmaking-equipment companies are benefitting from surging demand for the advanced semiconductors needed to run AI models.
Photographer: Billy H.C. Kwok/BloombergThis article is for subscribers only.
ASM International NV’s first-quarter revenue forecast beat estimates as an artificial intelligence boom drives demand for the Dutch semiconductor-equipment maker’s products.
It expects revenue of between €810 million ($849 million) and €850 million in the period, with a further increase in the second quarter, the Almere, Netherlands-based company said in a statement on Tuesday. That compares with the average €800.2 million analyst estimate compiled by Bloomberg. ASM also confirmed its outlook for the full year.