According to The Kobeissi Letter, ASML reached a $500 billion market capitalization, becoming only the third company in Europe to achieve this milestone (source: The Kobeissi Letter, X, Jan 15, 2026). According to The Kobeissi Letter, Nvidia (NVDA) is roughly nine times larger than ASML and can swing about $500 billion in market cap in a single day, underscoring extreme scale and volatility at the top of U.S. AI equities (source: The Kobeissi Letter, X, Jan 15, 2026). According to The Kobeissi Letter, the comparison is framed as Europe being left behind versus U.S. AI leaders, highlighting a stark size and liquidity gap that is directly relevant to equity risk sentiment and market positioning (source: The Kobeissi Letter, X, Jan 15, 2026). According to The Kobeissi Letter, the post does not reference cryptocurrencies or direct crypto market impact (source: The Kobeissi Letter, X, Jan 15, 2026).