ASML Says Chip Controls Will Push China to Create Own Technology

(Bloomberg) — ASML Holding NV Chief Executive Officer Peter Wennink said U.S.-led export control measures against China could eventually push Beijing to successfully develop its own technology in advanced chipmaking machines.

Semiconductor companies in China “have to compete” against global rivals so they want to buy non-Chinese machines, Wennink said Wednesday in an interview with Bloomberg News at the company’s headquarters in Veldhoven, Netherlands. “If they cannot get those machines, they will develop them themselves. That will take time, but ultimately they will get there.”