ASM Orders Beat Estimates on Artificial Intelligence Boom (2)

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.

ASM saw strong demand in particular for technology critical to AI chips. Its so-called gate-all-around products, which boost device performance, are expected to see a “substantial increase” in sales next year, Chief Executive Officer Hichem M’Saad said in the statement.

Sales in ...