Technology

ASML CEO sees no near-term danger of chip glut

ASML CEO sees no near-term danger of chip glut

Heavy investment is needed to increase capacity in the semiconductor industry and there is no immediate danger of oversupply, the CEO of Dutch semiconductor equipment maker ASML said on Wednesday. In ASML's annual report published on Wednesday CEO Peter Wennink said plans by the China, the European Union, Japan, South Korea and the United States were expected to lead to a doubling of capital expenditure in the chip industry from $150 billion in 2021.

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