Multi-billion-dollar agreements between artificial intelligence companies and semiconductor manufacturers are expected to bolster ASML’s outlook as the Dutch firm prepares to report third-quarter earnings on Wednesday.

Investors and analysts are looking for signs that ASML’s major customers, including TSMC and SK Hynix, are accelerating plans to expand production capacity in 2026 and beyond.

ASML’s shares have already surged 32% since September 2, outpacing the 15% rise in the Philadelphia Semiconductor Index over the same period, reflecting high market expectations for its growth prospects.