Elon Musk Praises ASML as Europe’s Greatest Company, Highlighting Chipmaking Dominance

Elon Musk, CEO of Tesla and SpaceX, took to X (formerly Twitter) to praise Dutch semiconductor equipment maker ASML, calling it ‘arguably the greatest company in Europe’ and urging that it be ‘treasured and supported.’ ASML is the world’s sole supplier of extreme ultraviolet (EUV) lithography machines, essential for manufacturing advanced chips used in AI, smartphones, and data centers. Musk’s comment comes amid heightened geopolitical tensions over semiconductor technology, with the US and Netherlands restricting exports to China.

The endorsement from Musk, a prominent figure in tech and manufacturing, could boost investor sentiment around ASML, whose stock has already surged over 30% year-to-date. ASML’s monopoly in EUV technology makes it a linchpin in the global chip supply chain, and Musk’s recognition aligns with his focus on advanced AI and computing at xAI and Tesla. However, the company faces headwinds from export restrictions and potential demand slowdowns in certain markets.

Musk’s statement may also reflect his broader view of European tech capabilities, as he has previously criticized European regulations. The market reaction has been muted, with ASML shares trading slightly higher in Amsterdam. Analysts note that while Musk’s praise is notable, ASML’s fundamentals remain tied to the cyclical semiconductor industry and geopolitical dynamics, rather than celebrity endorsements.