ASML Sees Large Investments and Orders, Employee Tensions Rise

ASML has secured multiple massive deals and orders, including an $8 billion SK Hynix EUV equipment deal, and $6 billion additional investment. The company's stock has surged following the agreements. However, employees have joined a walkout, with unions urging management to reconsider job cuts.

ASML shares rose approximately 4% on March 24 after SK Hynix committed to roughly $8 billion in EUV lithography equipment through 2027, the largest single EUV order ever publicly disclosed. The deal covers approximately 30 new EUV machines over two years, driven by SK Hynix's need to mass-produce next-generation high-bandwidth memory (HBM) and advanced DRAM products to meet surging AI demand.

The record order underscores ASML's irreplaceable position in the semiconductor supply chain. With record full-year 2025 revenue of 32.7 billion euros and a growing backlog, the company is the sole supplier of the extreme ultraviolet lithography systems required for cutting-edge chip manufacturing. The SK Hynix commitment signals that memory makers, not just logic chipmakers, are now investing heavily in EUV capacity to support AI workloads.

However, internal tensions have added complexity. ASML announced the elimination of 1,700 management positions, roughly 4% of its global workforce, seven weeks prior, and affected employees still await clarity on individual outcomes. The company aims to finalize reorganization terms by April 1, with some management employees potentially transitioning to engineering roles. For investors, the juxtaposition of record orders and workforce restructuring highlights ASML's effort to optimize its cost structure while riding the AI-driven semiconductor capex wave.