It's the one exception in the semiconductor supply chain where Europe is still leading. For all other parts of the value creation Europe is either a niche player at best or completely absent, well into the actual application layer.

And the bits that go into those machines are themselves globally distributed.

Nah, according to Hacker News Europe does nothing except exist and make up rules by 'bureaucrats'.

I think chinnese already made their own "ASML"