ASM International raised its 2027 revenue forecast to more than €5.7B, from above €4.6B, as memory and AI chipmakers expand. That reaches its 2030 target three years early. Third-quarter revenue rose 44% to a record €1.16B, and ASM plans a buyback of up to €300M.

ASM International has raised its 2027 sales forecast by about 24% as companies building AI data centres drive demand for chips, Bloomberg reported. The Dutch chip-equipment maker now expects revenue of more than €5.7B next year, up from above €4.6B forecast in July.

That puts ASM on track to hit its 2030 sales goal three years early, the company said on Tuesday. It also plans to buy back up to €300M of its shares.

ASM makes machines that lay down very thin layers of material on silicon wafers, a key step in making chips. Demand is coming from memory makers and from firms producing advanced chips for AI. It is one of several European firms profiting from the AI boom by selling tools rather than building AI models.

“Capacity remains tight across our customer base, and customers are moving quickly to increase output,” said chief executive Hichem M’Saad.

Third-quarter revenue rose 44% at constant currencies to a record €1.16B, while net income fell to €308.1M. Both beat analysts’ estimates. ASM’s US-listed shares rose 6.7% on Tuesday.

Its customers include TSMC, which plans to spend up to $64B this year after a sixth straight record profit, and Intel. ASM warned that its own supply chain is “” but said it is working with suppliers and customers to ship faster.

Fellow Dutch toolmaker ASML said this month that it cannot meet demand in 2027 or 2028 at current output levels.