Dutch firm ASML, which holds a near-total monopoly on machines for manufacturing advanced chips, has reached a value of 674 billion dollars, surpassing Novo Nordisk. Banks celebrate its capacity to produce more equipment, but this euphoria is a smokescreen: its monopoly in extreme ultraviolet lithography inflates its stock price while consumers pay more for electronics.
Technical monopoly that makes every transistor more expensive 💸
ASML's EUV machines are the only way to manufacture chips of 7 nanometers or less, a process requiring atomic precision. With no real competition, the company can dictate prices and limit supply. Added to this are export restrictions to China and other markets, imposed by geopolitical pressure. The result is an artificial shortage that drives up the cost of smartphones, GPUs, and consoles, while investors see their accounts grow.
The money-making machine (that empties your pockets) 🛠️
So now you know: every time ASML breaks a stock market record, it's not so you can buy a cheaper mobile phone. It's so shareholders can buy a yacht while you pay 1,500 euros for a phone that, curiously, needs its machines to exist. If it's any consolation, at least the bubble looks pretty from the outside. But don't touch it, it burns.