ASML CEO Declares Unassailable Lead in Chip Lithography: 'No One Is Coming for Us'

ASML Chief Executive Christophe Fouquet flatly dismissed the notion that any rival could challenge the Dutch chip-equipment giant's dominance in advanced lithography, stating in a high-profile interview that the company's technological lead remains impregnable.

“No one is coming for us,” Fouquet told reporters Tuesday morning on the rooftop deck of a Beverly Hills hotel, speaking ahead of his panel at the Milken Institute Global Conference. Dressed in a blue suit and white shirt, the CEO appeared relaxed even as he addressed the competitive landscape.

Background: The Lithography Monopoly

ASML is the world's sole supplier of extreme ultraviolet (EUV) lithography machines, which are essential for producing the most advanced semiconductors used in smartphones, AI accelerators, and military hardware. The company has invested tens of billions of dollars over two decades to perfect EUV technology, creating a barrier that rivals – including Japan's Canon and Nikon, as well as newer Chinese entrants – have failed to surmount.

Fouquet, who became CEO in April 2024 after more than a decade at ASML, noted that the company's High-NA EUV systems – the next generation – have started shipping to key customers like Intel and Samsung. “The complexity of these machines is orders of magnitude beyond what any competitor has even attempted,” he said.

What Competitors Are Doing

Canon has focused on nanoimprint lithography, a different approach that still lacks the resolution and throughput needed for leading-edge chips. Nikon has largely exited the EUV race. Meanwhile, Chinese firms such as Shanghai Micro Electronics Equipment (SMEE) have made progress on less advanced deep ultraviolet (DUV) tools, but remain years away from EUV capability – largely due to export controls that block them from buying ASML's machines.

What This Means: Continued Dominance – and Geopolitical Pressure

Fouquet's confidence underscores a reality that has shaped the global chip industry: ASML effectively holds a monopoly over the most critical manufacturing step for advanced semiconductors. This position gives the company immense pricing power and leverage over chipmakers, but also makes it a target of geopolitical tensions, especially between the U.S. and China.

“No one is coming for us in terms of technology,” Fouquet said, but he acknowledged that export restrictions create uncertainty. “We have to navigate these waters carefully. Our customers rely on us, and we will comply with all laws.” The company has already suspended shipments of its most advanced systems to China under pressure from Washington.

Impact on the Supply Chain

For chip manufacturers like TSMC, Intel, and Samsung, ASML's unchallenged position means they must continue to pay escalating prices for EUV tools – now over $400 million each – to stay competitive. Any disruption in ASML's supply chain or a future technological breakthrough by a rival could reshape the industry, but Fouquet's statements suggest that scenario is distant.

Context: The Milken Institute Appearance

Fouquet's interview at the Milken Institute Global Conference – an annual gathering of finance and technology leaders – was his first major public appearance since taking the helm. He leveraged the platform to reassure investors and customers that ASML's research-and-development pipeline, which exceeds $3 billion annually, will keep the company ahead for the next decade.

“We are investing not just for next year, but for the technology that will be needed in 2035,” Fouquet said. “Our roadmap is solid, and no one else has the ecosystem we have built – from optics to precision mechanics to software.”

Outlook: What Comes Next

Analysts largely agree with Fouquet's assessment. “ASML's monopoly is baked into the industry structure for at least the next five years,” said Rachel Morrison, a semiconductor analyst at HCM Capital. “The question is not if a competitor emerges, but whether geopolitical forces will force ASML to limit its own sales.”

Fouquet's message was clear: the throne is secure. But with governments around the world pouring billions into domestic chip production, the pressure to localize lithography technology may eventually produce, if not a direct rival, then alternative methods that could reduce dependence on ASML. For now, however, the Dutch company stands alone.

Read more about ASML's technology background | What this means for the chip industry