ASML

“ASML's partnership with Zeiss, the lens company is also like really special. And I guess like Trump and Zeiss could try to partner to, I don't think they have any ambitions to do this, but they could try to partner together to kind of circumvent ASML. But like…”

“Intel and TSMC and Samsung partnered and actually bought 25% of ASML to inject capital into ASML to develop EUV systems.”

“It's really this ecosystem approach that makes sense. No one can do all of this. It's just way too hard. It really does take a village.”

“They shipped the first EUV tool in 2010 to TSMC, and EUV didn't even really start high volume, and this was after, you know, a decade of R&D already, but then they didn't start high volume manufacturing on EUV until 2019. So they had, like, almost a decade of …”

“In the early 2000, even Intel, I think, funded ASML's development, a big industry consortium, including Intel, of the EUV, and then thought the technology was gonna die, and so I think three or four years in, divested.”

“They only make 50 of these machines per year or so. They used to have competitors, like Nikon used to compete with ASML on this, but it's too hard. They gave up.”

“It's TSMC's insane capital operating cash flow production that enables them to spend capex above anybody else that allows them to buy more ASML equipment than anyone else.”

“They make the most advanced chip manufacturing machines in the world. They're the only company that makes them. They're located still in the Netherlands. Their biggest customer is TSMC.”

“It takes four seven 47 to ship one of these machines.”

“Well, first of all, they cost two hundred million dollars for a machine that makes the chips, and that's gonna go up to like three hundred million dollars.”

“Not only TSMC, ARM, Synopsys, Cadence, and ASML all founded, Right within a couple years of each other.”