ASML ($ASML) Slides 5% as Europe Joins Global Chip Selloff

Let’s pour one out for $ASML: the European chip giant fell nearly 5% this week, caught in the meltdown that swept semiconductors from Silicon Valley to Amsterdam. It’s not just ASML’s weird name fueling the drama, a Chinese startup, Moonshot, released Kimmy K3, a monstrous 2.8 trillion parameter open-weights AI model that’s both powerful and (worse for Wall Street) cheap. Fear washed over the already nervous AI trade, hammering valuation darlings and sending ASML, TSMC, and their American clones into a synchronized selloff the likes of which Europe hasn’t seen since 2025.

Investors on YouTube and X are calling it “the great AI reset,” but this isn’t a tech apocalypse: demand for chips is still hot, but now everyone’s asking if $60 billion capex plans make sense when China is undercutting the price of ‘intelligence’ itself. Meanwhile, ASML’s gains on strong TSMC results barely lasted a day before panic parked the party bus in a ditch. Turns out, in chips and in life, timing really is everything.