Chip battle

Europe's largest is going strong – the share has soared this year

Europe's most highly valued listed company ASML, which manufactures the machines used to manufacture advanced chips, performed strongly in the second quarter. Both profit and revenue were higher than expected according to this morning's quarterly report.

- Our order intake remained extremely strong during the first half of the year, says CEO Christophe Fouquet.

The strong demand is causing the Dutch company to raise its forecast for 2026 for the second time this year. It now expects revenue of up to 45 billion euros. This is higher than expected.

ASML shares have surged 66 percent on the stock exchange this year. 

Memory listing in Shanghai could be the largest in several years

Chinese memory chip manufacturer CXMT is to be listed on the Shanghai Stock Exchange on Thursday and the transaction could be historic, writes Bloomberg.

The target price suggests CXMT expects to sell shares worth the equivalent of $9.8 billion in the listing, making it the largest IPO in Asia since 2022.

The record on the Shanghai Stock Exchange is $10 billion, set in 2010 by the Agricultural Bank of China.