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The Dutch tech giant ASML, which manufactures chip-making machines to power the tech industry, has raised its sales forecasts for the second time this year after strong demand for AI systems, and reported higher second-quarter profits.
The company’s share price jumped 5.7% on the news.
Ongoing AI-related investments and continued progress in AI technologies are driving demand for advanced logic and memory chips, further strengthening the semiconductor industry’s growth outlook.
Our order intake remained extremely strong in the first half of the year.
ASML has delivered another statement quarter, with sales and profitability both ahead of guidance and the full-year outlook lifted by much more than the market expected. The biggest surprise came from customers upgrading and servicing equipment already on factory floors, a sign that chipmakers are pushing existing capacity while preparing for the next wave of investment. But this is more than a short-term scramble. AI demand is pulling investment forward across both advanced computing and memory chips, giving ASML clearer sight of customer demand well beyond this year.
The story has now shifted from whether demand will arrive to whether ASML can expand production fast enough to meet it. Management is responding with ambitious capacity plans, directly addressing one of the main concerns that has been rumbling in the background.
While operationally the business is improving, we are also working with our creditors, regulators and government to complete our recapitalisation.
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