ASML shares rally after Musk calls it Europe’s ‘greatest company’

Musk’s Terafab Chip Venture With ASML Sends Dutch Chipmaker’s Shares Surging

ASML Holding shares rallied on Monday after Elon Musk publicly endorsed the Dutch chip-equipment maker over the weekend and confirmed plans to present his Terafab semiconductor project at the company’s internal technology conference this week.

Musk posted on X on Saturday that “ASML should be treasured and supported. It is arguably the greatest company in Europe,” according to Benzinga. The remarks came days before Musk is scheduled to appear via video link in a fireside chat with ASML CEO Christophe Fouquet at the company’s annual technology conference, set for this week in Den Bosch.benzinga

Terafab Takes Shape

Terafab, a joint venture between SpaceX, Tesla, and Intel announced in March 2026, aims to build a vertically integrated semiconductor facility in Texas capable of producing 2-nanometer logic chips, memory, and advanced packaging under one roof. SpaceX has filed for a facility in Grimes County, Texas, with an initial investment of $55 billion and potential expansion costs reaching $119 billion.semiwiki

ASML confirmed that Musk “will share his vision on AI, robotics, space, and semiconductor manufacturing” at the employee event, and described itself as a collaborator in what it termed a “serious endeavor”. “Through Terafab, Musk and his team are becoming part of the broader semiconductor ecosystem, and many companies, including ASML, will collaborate on this initiative,” the company said in a statement reported by Reuters.ndtvprofit

Market Reaction and Employee Pushback

The stock gained after falling nearly 6% on Friday amid a broader semiconductor selloff triggered by weak guidance from Broadcom and stronger-than-expected U.S. jobs data. ASML shares have delivered a return of more than 50% year-to-date, and the company briefly reached a market capitalization of $674 billion in early June, making it the most valuable stock in Europe.ad-hoc-news

Not everyone at ASML welcomed the partnership. Dutch newspaper Eindhovens Dagblad reported that some employees threatened to boycott the conference over Musk’s invitation, though the company proceeded with the event citing its business relevance to the Terafab project.dutchnews

Fouquet told Reuters last month that he had spoken directly with Musk about Terafab, calling him “very serious” about what could become one of the largest chip manufacturing operations ever attempted.reuters