Core Insights - ASM International reported third-quarter orders below analyst expectations due to decreased demand from advanced chip manufacturers and a reduction in orders from China [1] - The company adjusted its third-quarter order value to €636.8 million (approximately $743 million), reflecting a 17% year-over-year decline [1] - ASM's CEO indicated that the weak order trend is expected to bottom out in the fourth quarter, with a potential recovery in order volume as 2026 approaches [1] Financial Performance - For the third quarter, ASM's revenue increased by 8% year-over-year to €800 million, with adjusted net profit rising to €206.2 million [2] - The company anticipates fourth-quarter sales to be between €630 million and €660 million, which is below the analyst average expectation of €682 million [1] Market Context - ASM's deposition equipment is critical for advanced chip manufacturing, which is widely used in artificial intelligence infrastructure [2] - The shift towards gate-all-around technology has benefited ASM, enhancing device performance and reducing power consumption [2] - The AI boom has led to increased spending across the infrastructure sector, with positive momentum observed in investments from a broader customer base [2]