ASML vs. Nvidia: The AI Revenue Gap Comes Down to Scale

By Elena Vasquez

Nvidia generated $96.2 billion in its quarter ended July 26, 2026, while ASML booked $10.6 billion in its quarter ended June 30, 2026—a 9.1-to-1 revenue gap. Nvidia sells the AI chips and networking products customers buy to monetize data-center compute; ASML sells the lithography systems chipmakers use to produce them.

How wide is the revenue gap?

Investors read income-statement revenue as a gauge of whether a company can sustain customer demand over time. Nvidia’s direct product sales now dwarf ASML’s equipment sales.

Calendar quarter	ASML Holding revenue	Nvidia revenue
Q4 2024	$9.9 billion, ended Dec. 31, 2024	$39.3 billion, ended Jan. 26, 2025
Q1 2025	$8.2 billion, ended March 31, 2025	$44.1 billion, ended April 27, 2025
Q2 2025	$8.7 billion, ended June 30, 2025	$46.7 billion, ended July 27, 2025
Q3 2025	$8.8 billion, ended Sept. 30, 2025	$57.0 billion, ended Oct. 26, 2025
Q4 2025	$11.4 billion, ended Dec. 31, 2025	$68.1 billion, ended Jan. 25, 2026
Q1 2026	$10.1 billion, ended March 31, 2026	$81.6 billion, ended April 26, 2026
Q2 2026	$10.6 billion, ended June 30, 2026	$96.2 billion, ended July 26, 2026
Q3 2026	$13.3 billion, ended Sept. 30, 2026	Not yet reported

The dataset carried an Oct. 22, 2026 cutoff, with ASML’s figures converted from euros into U.S. dollars. The table retains the companies’ different quarter-end dates.

Nvidia’s reported revenue increased in every entry, from $39.3 billion to $96.2 billion over seven quarters. ASML’s final entry reached $13.3 billion, while Nvidia had not reported its comparable Q3 2026 figure.

What does ASML sell?

ASML designs, manufactures and sells extreme-ultraviolet and deep-ultraviolet lithography systems. Global semiconductor manufacturers require these machines to produce highly complex integrated circuits for modern electronic devices.

The company recently began construction on a new manufacturing campus in Eindhoven to expand its operating footprint. U.S. policymakers were also discussing possible export restrictions on ASML’s older equipment lines.

ASML is the sole supplier of EUV machines used to print intricate circuit patterns on silicon wafers. That position makes its equipment a critical upstream dependency for advanced chip production.

What is Nvidia monetizing?

Nvidia develops advanced GPUs, specialized computational platforms and high-performance networking solutions. Its products serve enterprise data centers, global gaming platforms and emerging automotive systems.

The company recently introduced modular infrastructure designs intended to reduce data-center deployment times across Europe. Separately, the U.S. Department of Justice opened a formal antitrust investigation into a licensing agreement involving the department and Groq.

Where do the margins land?

Nvidia reported a pre-tax margin of 74 cents per revenue dollar in its recent quarter, compared with 49 cents for ASML. That leaves Nvidia with a 25-percentage-point advantage on the measure.

Customers buy Nvidia’s chips and networking products to turn AI compute into data-center revenue. ASML sells capital equipment to manufacturers such as Taiwan Semiconductor Manufacturing, placing it farther upstream in the supply chain.

The strategic argument cuts the other way. Without ASML, the analysis argues, the economy would be starved of chips and Nvidia would have no chips to sell.

Which stock offers the better trade-off?

The investment comparison states: “ASML may never catch Nvidia in revenue, but that doesn't mean ASML is an inferior business.” Revenue scale and margin do not by themselves measure a supplier’s importance to production.

• ASML: Sole EUV supply and steadier growth may make it the safer AI exposure. Competition Nvidia faces from designers such as Broadcom supports that relative stability argument.
• Nvidia: Faster growth and direct exposure to AI spending offer more long-term upside. Its higher revenue and pre-tax margin provide greater earnings scale, although Broadcom and other chip designers constrain potential share gains.

What does the Stock Advisor screen add?

A separate Stock Advisor screen adds a promotional layer to the comparison, including a pitch for its latest top-10 list and investor community. Its analyst team selected 10 stocks for that list, and ASML did not make the cut.

The service cited two historical cases:

• Netflix, recommended Dec. 17, 2004: A $1,000 investment became $334,308.
• Nvidia, recommended April 15, 2005: A $1,000 investment became $1,323,413.

Stock Advisor reported an average return of 897%, compared with 213% for the S&P 500, as of Oct. 29, 2026. Those service-wide figures sit apart from the operating results of ASML and Nvidia.

The disclosures state that John Ballard holds Nvidia. The Motley Fool holds and recommends ASML, Broadcom, Nvidia and Taiwan Semiconductor Manufacturing, and says it maintains a disclosure policy.