>Chips made with Dutch chip fabrication technology
Using american EUV light sources....this train of who makes what in the supply chain can go on forever, the point is who's making the highest margins from the end product and it's not ASML nor ARM but Nvidia, AMD, Qualcomm, Microsoft, Apple, Google, etc.
Hence my point that while EU has some IP, its value is dwarfed by the IP the US makes. Just look at market cap of US vs European tech sector. It's not even a competition. ASML can't offset that. I think Apple has enough cash in the bank to buy ASML if they wanted to.
The profits aren't the point. The questions that Europeans are asking themselves as shown in the featured article is how far away they are from independence from an untrustworthy trading partner.
The US makes the biggest margins from valuable IP and software services, not from mass produced widgets coming in shipping containers.