Semiconductor company ASML Holding NV (NASDAQ:ASML) and Eindhoven University of Technology (TU/e) have entered into a substantial expansion of their collaborative efforts.

The new agreement will see an increase in joint research initiatives and the training of additional PhD students in fields such as plasma physics, mechatronics, optics, and AI.

The expansion aims to bolster the Brainport region's unique position in the semiconductor industry and enhance TU/e's Future Chips flagship program.

The collaboration, which was initially formalized through a memorandum of understanding last year, will now involve nearly one hundred PhD students over the next decade, conducting research pivotal to the chip sector.

The partnership not only advances knowledge and technology crucial for societal solutions and the Dutch economy but also prepares PhD students to become top specialists urgently needed by the semiconductor industry.

Additionally, ASML will provide financial support for TU/e's new cleanroom facility, designed to be a premier hub for semiconductor research, education, and startups.

ASML's investment in this collaboration amounts to €80 million over the next ten years.

Roger Dassen, Chief Financial Officer of ASML, said, "With this agreement we are expanding our long-term collaboration with TU/e. TU/e is the purveyor of talent in the region and an important academic partner."

"The collaboration will increase the availability of PhDs, which our industry has a strong need for, and will provide scientific insights that are relevant to the chip industry and society. With this agreement we are investing in science in the Netherlands and in training experts."

Price Action: ASML shares are trading higher by 2.74% at $947.62 at the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.