ASML 2024 Investor Day Summary Company Overview - **Company**: ASML - **Event**: 2024 Investor Day - **Date**: November 14, 2024 - **Location**: Veldhoven, Netherlands Key Industry Insights - The semiconductor industry is projected to remain strong, with a market size of €1 trillion in 2022 and expected to maintain this size in 2024, but with a shift towards advanced logic and DRAM due to AI advancements [14][15] - AI is expected to significantly boost the semiconductor industry, with approximately 40% of the semiconductor business projected to revolve around AI by 2030 [32][33] - The industry requires major innovations to improve cost and energy consumption, particularly in logic and DRAM sectors [20][21] Technology and Product Developments - ASML emphasizes the importance of lithography in driving down costs and energy consumption, asserting that it will remain central to innovation in the semiconductor industry [22] - The company is focusing on EUV (Extreme Ultraviolet) technology, which is maturing and will be scalable for many years, providing customers with cost and energy efficiency [23][24] - Holistic lithography is highlighted as a key solution for improving product quality, flexibility, and time to market [17][18] - ASML plans to reduce the cost of EUV exposure by 30% by 2030 while also cutting emissions by 50% [60][62] Market Trends and Customer Focus - The demand for computing power is accelerating, particularly driven by AI, with a projected increase of 16 times every two years, compared to Moore's Law [40][41] - DRAM is identified as a bottleneck for AI, leading to a shift towards high bandwidth memory (HBM) and potential processing in memory architectures [51][52] - ASML's installed base is growing, leading to increased opportunities for service and upgrades, which are becoming a larger part of the business [26] ESG Commitments - ASML is committed to achieving greenhouse gas neutrality for scope 1 and scope 2 emissions by 2025 and is on track to meet this goal [104] Financial Outlook - The semiconductor industry is expected to remain profitable, with an EBIT of €865 billion in 2023, despite being a downturn year [35][36] - More than €500 billion is projected to be spent on R&D in 2024 to foster innovation within the industry [37] Conclusion - ASML is optimistic about the future, with a strong focus on innovation, customer partnerships, and sustainability initiatives, positioning itself to capitalize on the evolving semiconductor landscape driven by AI and advanced technologies [19][27]