April 24, 2026 · 03:48 Uhr
TSMC COO Kevin Zhang officially confirmed that the company currently has no plans to deploy ASML's High-NA-EUV machines (>$410 million/unit) – instead, existing EUV tools will continue to be optimized. The move weighs on ASML shares by 3% and raises strategic questions as Intel remains the only early adopter so far, and the ROI of the €350 million device is being questioned across the industry.
The market views TSMC's public rejection of High-NA-EUV technology as a direct blow to ASML's growth thesis for 2026/27, since TSMC is the world's largest ASML customer. Without TSMC adoption, the volume needed for economical mass production of the next lithography generation is lacking, prompting investors and analysts to recalculate valuations.
With $7.4 million in trading volume and +10.9% month-over-month, the market is increasingly betting on unchanged US interest rates for the full year 2026. For capital-intensive semiconductor investments (fab construction, CHIPS Act projects), a prolonged high interest rate environment means significant cost pressure and possible delays to planned expansions.
Micron is actively lobbying the US Congress for sweeping export restrictions on chipmaking equipment for Chinese memory chip competitors YMTC and CXMT – despite existing trade controls, these companies are growing rapidly. New is the direct involvement of a company as a driving force behind legislation, increasing pressure on Applied Materials, Lam Research, and KLA for compliance.
SpaceX submitted its IPO filing confidentially in April 2026 and plans a June listing with a valuation between $1.75 and $2 trillion – according to Polymarket, 94% probability before 2027. For the semiconductor and AI infrastructure sector, this is relevant since SpaceX (Starlink, Starship) is a major buyer of custom chips and high-performance components.
Austria has allocated €227 million in public funds for the expansion of the ams-OSRAM semiconductor plant; private investments could add another €567 million by 2030. This funding decision – concurrent with the ongoing Infineon cartel proceedings – shows that Europe views ams-OSRAM as a strategically important producer despite restructuring and is actively securing it.
The most important development this week is TSMC's public rejection of ASML's High-NA-EUV technology, which puts the Dutch equipment maker in an acute volume and credibility crisis: without the world's largest foundry customer, the business case for rapid market penetration is missing. At the same time, the US-China chip conflict is escalating at the legislative level, as Micron now appears directly as a lobbyist for an export ban on production tools for YMTC and CXMT – putting Applied Materials and Lam Research under increased compliance pressure. On the macroeconomic side, market expectations for zero Fed rate cuts in 2026 are rising significantly, which increases financing costs for capital-intensive fab projects in the US and Europe and could jeopardize timelines. Europe's semiconductor ambitions remain active – Austria's €227 million support for ams-OSRAM and the ongoing EU Chips Act 2.0 process show political will, yet dependence on East Asian manufacturing expertise and ASML's equipment monopoly remain the central structural vulnerability.
Tokens: 2,532(1,512 in · 1,020 out)
This website uses cookies. Strictly necessary cookies are always active. By clicking "Accept all" you additionally consent to analytics cookies (Google Analytics). Privacy Policy →
