Dutch chip giant ASMLs net profits dip in 2024 [Video]

Dutch tech giant ASML, which sells cutting-edge machines to make semiconductor chips, reported a drop in annual net profits Wednesday, as geopolitical headwinds and the emergence of Chinese AI start-up DeepSeek disrupt the sector.

ASML net profits for 2024 came in at 7.6 billion euros, compared to 7.8 billion euros for 2023.

Total net sales last year were 28.3 billion euros, a slight gain on the company’s forecast of 28 billion euros. In 2023, ASML booked sales of 27.6 billion euros.

CEO Christophe Fouquet hailed “another record year” for the firm in terms of annual sales.

“Consistent with our view from the last quarter, the growth in artificial intelligence is the key driver for growth in our industry,” he said in a statement.

“It has created a shift in the market dynamics that is not benefiting all of our customers equally, which creates both opportunities and risks,” he said.

ASML …