Generative AI Boom Can’t Happen Without ASML, Says CEO Wennink

ASML Holding NV sees the artificial intelligence boom driving demand for the Dutch company’s most advanced chipmaking machines, according to its chief executive officer.

AI will need “massive amounts of computing power and data storage. I think without ASML, without our technology, that’s not going to happen,” CEO Peter Wennink said in an interview with Bloomberg TV at the company’s headquarters in Veldhoven on Wednesday. “It’s going to be a big driver for our business,” he added.

Wennink’s comments follow record orders in the fourth quarter, which tripled from the quarter before and beat estimates, sending its stock up the ...