Stock Markets July 15, 2026 05:41 AM

ASML Says 2027-2028 Capacity Plans Include Demand from Musk’s Terafab

CFO Roger Dassen notes Terafab factored into multi-year EUV booking and capacity outlook

By Sofia Navarro
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ASML

ASML told investors that its capacity expansion targets for 2027 and 2028 reflect orders tied to Elon Musk’s planned Terafab facility in Texas. Chief Financial Officer Roger Dassen said the company is in active discussions with customers and that Terafab is included in the planning. Dassen also reported only a small number of high-numerical aperture EUV systems have been shipped globally and that ASML is nearly fully booked for 2027 EUV capacity with significant 2028 orders already secured.

ASML Says 2027-2028 Capacity Plans Include Demand from Musk’s Terafab
ASML
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Key Points

  • ASML’s announced capacity expansion plans for 2027 and 2028 explicitly include demand from Elon Musk’s planned Terafab facility in Texas - impacts semiconductor equipment supply planning.
  • Shipments of high-numerical aperture EUV systems remain very limited, with global deliveries in the low-single digits - relevant to advanced lithography deployment.
  • ASML is nearly fully booked for 2027 EUV capacity and has already secured a substantial number of orders for 2028 - affecting planning for equipment manufacturers and chipmakers.

ASML said its expansion roadmap for 2027 and 2028 incorporates demand from the planned Terafab chip plant in Texas, the company’s finance chief said on a conference call. The comments make clear that customer construction plans - including Elon Musk’s Terafab project - are being accounted for in ASML’s medium-term capacity planning.

"We’re in dialogue with all our customers and we know ... what their building plans are," Chief Financial Officer Roger Dassen said, adding explicitly that "Terafab is also part of those plans." The remark ties ASML’s equipment supply outlook directly to visible customer investments in new fabrication capacity.

Dassen provided additional detail on ASML’s technical product flows, noting that shipments of high-numerical aperture extreme ultraviolet (EUV) lithography systems have been limited to the low-single digits worldwide. These next-generation EUV tools represent the advanced end of ASML’s portfolio.

On broader market dynamics, Dassen said that if China is unable to expand its domestic chipmaking capacity, production would relocate to other regions because global demand for semiconductors remains unchanged. That view frames ASML’s capacity planning as responsive to where fabs are built rather than to regional constraints.

Regarding future bookings, ASML indicated it is close to filling its available EUV capacity for 2027 and has already secured a substantial share of orders for 2028. Taken together, those statements suggest near-term capacity utilization is strong while some demand is already committed further out.


Contextual note: The comments were made on a company call and reflect ASML’s current assessment of customer build-out timing and equipment demand for its EUV systems.

Risks

  • If China is unable to expand chipmaking capacity, production could relocate to other regions, altering demand patterns for equipment suppliers and regional manufacturing sectors.
  • Limited shipments of high-numerical aperture EUV systems (low-single digits) may constrain how quickly the most advanced lithography technology can be deployed by customers.
  • Near-full booking of 2027 EUV capacity could limit the ability to absorb incremental near-term demand, potentially pressuring lead times for semiconductor equipment buyers.

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