ASML CEO Says AI Chip Shortage Will Persist Through 2031

Christophe Fouquet, CEO of ASML—which holds a monopoly on extreme ultraviolet lithography machines essential for advanced chip production—predicted at the Milken Global Conference that AI chip manufacturing will remain supply-constrained for two to five years. The forecast underscores how accelerating demand from hyperscalers building training and inference infrastructure has outpaced even ASML's production scaling, creating a compound bottleneck that extends beyond factory capacity alone.