ASML Accuses Former China Employee Of Data Embezzlement

Semiconductor lithography machine maker ASML Holding N.V. ASML said a former employee in China stole data about its proprietary technology.
ASML reported the recently discovered data breach to authorities and feared possible violation of export controls, Bloomberg reports.
It also initiated an internal review and implemented remedial measures after the incident.
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The update coincided with the Netherlands preparing to join the U.S. and Japan, restricting China's ability to acquire advanced machines for producing semiconductors from ASML.
ASML is one of the few producers of lithography machines for making mid to high-range semiconductors and lithography machines needed for the most cutting-edge chips.
In 2022, ASML blamed Beijing's Dongfang Jingyuan Electron Ltd for potentially stealing trade secrets dating back to 2015.
China is ASML's third-biggest market after Taiwan and South Korea.
ASML's CEO Peter Wennink has resisted some of the restrictions on his company's ability to sell into China.
According to Gartner, as of 2021, ASML controlled more than 90% of the $17.1 billion global market for lithography equipment that helped shrink and then print patterns of transistors onto silicon wafers that were sliced into individual chips.
Price Action: ASML shares are down by 1.26% at $668.92 premarket on the last check Wednesday.