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ASML, the Netherlands-based producer of lithography machines for advanced microchips, is in a strong position to benefit from the expected boom in spending on artificial intelligence (AI) projects. The company is the only manufacturer of extreme ultraviolet lithography machines in the world, which are crucial for the production of the next generation of advanced microchips used in AI technologies. ASML’s market dominance is expected to continue as it would take a competitor many years, if not decades, to match its product and service quality. The company, which saw shares rise 12% following the publication of its annual results last week, forecasts revenues of between €44bn and €60bn by 2030 and a doubling of gross profits from last year’s figure should it meet its targets. However, the shares trade at 41 times ASML’s forecast earnings for the next 12 months and 29 times the profit expected in 2025, leading to questions over whether they are worth the expense.