ASML has awesome tech, and the European engineering deep tech supply chain has always been great. Look at the deep supply chains for automotive.

However, the comparison with Silicon Valley is superficial. Silicon Valley is an absolute powerhouse across the technology spectrum but particularly on the software side, and has repeatedly for decades churn out innovative companies. While the article calls ASML “digital”, based on my experience working with ASML, their unique strengths is system integration, not software.

And while there is plenty of scientific talent in Europe, which for semiconductor is somewhat clustered around Eindhoven thanks to ASML, the talent and capital density + culture of Silicon Valley is still unrivaled.