ASM Outlook Beats Estimates as AI Boom Drives Tool Demand

ASM International NV projected revenue for the second quarter that exceeded analysts’ estimates, underscoring that artificial intelligence investments are driving demand for the Dutch chip-equipment maker’s gear.

Revenue will be about €980 million ($1.2 billion) for the three months through June, at constant currency, with a range of 5% above or below that level, the Almere, Netherlands-based firm said in a statement after market hours on Tuesday. That compares with the average analyst estimate of €886.8 million, according to data compiled by Bloomberg.