ASML Holding shares surged after fourth-quarter orders exceeded analysts’ expectations, signaling strong demand for its semiconductor-making machinery amid the AI boom. The Dutch company reported over $7 billion in orders,

The company posted fourth-quarter orders well above analysts’ expectations as chip makers scrambled for machinery to produce increasingly sophisticated semiconductors.

Netherlands-based ASML lost its title as Europe’s most valuable tech company on Monday when it was caught up in a stock market panic over DeepSeek that also wiped hundreds of billions of dollars from the value of Nvidia,