The world’s most important chip-equipment maker says it is selling nothing in its home continent. ASML executive vice president Frank Heemskerk made the blunt admission at a panel in Amsterdam.

“We are selling absolutely nothing in Europe,” Heemskerk said, according to Bloomberg. Europe accounted for zero percent of ASML’s net system sales in the first two quarters of 2026. The region made up 1 percent in 2025 and 5 percent in 2024.

The Dutch company is the world’s only maker of extreme ultraviolet lithography machines. It is Europe’s largest company by market value, at around $660 billion. Globally it is having a record year, raising its 2026 sales guidance to 43 to 45 billion euros on AI-driven chip demand.

Heemskerk blamed weak European investment in chip factories. He called on the EU to help create demand for European-made chips, not just subsidize factory construction.

The European Chips Act aimed to double Europe’s share of global chip production by 2030. The EU’s own audit body says that goal is likely unachievable.