ASML Holding N.V. (ASML) Remains Critical to Advanced Semiconductor Manufacturing Amid AI Growth

What happened: Baillie Gifford's Q3 2026 investor letter for its International Concentrated Growth Strategy highlighted ASML Holding N.V. (NASDAQ:ASML), the world's only supplier of extreme ultraviolet lithography systems, as a holding tied to AI-related semiconductor demand. Key Why it matters: The managers remain interested in AI-related opportunities, particularly businesses supplying advanced chip manufacturing and memory, and see ASML's lithography technology as difficult to replicate. The strategy emphasizes disciplined valuations and ongoing reassessment of investment theses. Market: -4.9% today ($1,459.80), +48.7% YTD, 1.1x vol — as of 15:18 UTC

Baillie Gifford's Q3 2026 investor letter for its International Concentrated Growth Strategy highlighted ASML Holding N.V. (NASDAQ:ASML), the world's only supplier of extreme ultraviolet lithography systems, as a holding tied to AI-related semiconductor demand. Key

The managers remain interested in AI-related opportunities, particularly businesses supplying advanced chip manufacturing and memory, and see ASML's lithography technology as difficult to replicate. The strategy emphasizes disciplined valuations and ongoing reassessment of investment theses. Market: -4.9% today ($1,459.80), +48.7% YTD, 1.1x vol — as of 15:18 UTC