ctg. morning brief, 14 Oct 2026
On 14 Oct 2026, ASML reported Q3 2026 total net sales of €11.7bn and net income of €5.0bn (14 Oct). Full-year 2026 total net sales are now expected between €44bn and €45bn, with a gross margin around 56%.
Why it matters: Sales land in the upper half of the €11-12bn Q3 guide ASML set in July, and the full-year band tightens to €44-45bn from €43-45bn. Europe's lithography monopoly is printing AI-cycle cash. Money lead.
Source: https://www.asml.com/en/news/press-releases
Düsseldorf's Ubitium raised $14m in new seed funding (13 Oct), led by Ibex Investors with OpenOcean and a personal cheque from Quantum Systems co-CEO Florian Seibel, taking total seed to $18m since 2024.
Why it matters: First silicon (UB108, Samsung 8nm) already runs signal processing, AI inference and real-time control on one reconfigurable RISC-V array. Commercial UB410 evaluation units targeted for 2027. Physical AI chips from Europe, with a Munich defense founder writing the cheque.
Source: https://www.ubitium.com/ubitium-raises-14-million-to-build-the-first-universal-processor-for-physical-ai/
The Commission approved Italy's updated SAFE defence plan at just over €8bn (13 Oct), per spokesperson Thomas Reigner. Council still has to adopt it before the loan agreement and the first 15% pre-financing tranche.
Why it matters: Rome asked for less than the €14.9bn envelope once flagged for Italy. SAFE is the €150bn loan machine for joint procurement and production. Cash only moves after Council signs. Edition question: which Italian primes and SMEs actually get the orders.
Source: https://www.eunews.it/en/2026/10/13/defence-the-european-commission-approves-italys-application-for-the-safe-instrument/
Czech Czechoslovak Group, via Excalibur International, signed a cooperation agreement with US Bavovna (announced 12 Oct) to commercialize AI autonomy and GPS-denied navigation for air, surface and subsurface unmanned systems.
Why it matters: Framework, not a priced order. CSG already sits as a strategic partner of the Presto Tech Horizons fund that backed Bavovna. Prague-adjacent industrial distribution for EW-proof autonomy is the bet to watch.
Source: https://www.adriadefense.com/csg-and-bavovna-sign-agreement-to-expand-ai-powered-autonomous-defense-technologies/