ASM Shares Rise After Strong Demand From China Boosted Orders

ASM International NV shares rose Wednesday after first-quarter orders beat estimates, fueled by high demand for chipmaking equipment in artificial intelligence-linked segments and solid sales in China.

Orders rose 14% from a year earlier at constant currency to €834 million ($951 million) in the three months through March, ASM said in a statement on Tuesday. That compares with the average analyst estimate of €808 million, according to data compiled by Bloomberg.

Almere, Netherlands-based ASM makes deposition tools that are used to produce advanced chips. It said demand in AI-related segments remained strong while most other market segments were “sluggish.” The ...