ASML, every mention

Complexity Investing & Semiconductors with NZS Capital (Extended Cut) · Acquired Nov 3, 2021 · 20 mentions

• ▶ 1:29:13 John Bathgate And so, I mean, one, one thing that you guys covered well, um, in the TSMC episode is, is the, um, implementation of EUV systems, um, from, from ASML.
• ▶ 1:29:21 John Bathgate And they actually are allowing us to shrink the transistor, um, kind of the fundamental building block, um, you know, two dimensionally.
• ▶ 1:29:29 John Bathgate And so ASML is kind of on record saying they think that,
• ▶ 1:35:17 John Bathgate Like it used to be just about ASML needed better litho tools and like Intel would use them and like shrink the transistors.
• ▶ 1:35:25 John Bathgate And now like all this advanced packaging needs, it needs litho advancement from ASML, but it also needs, um, improvements from the other equipment guys like land research or applied materials or Tokyo electron.
• ▶ 1:39:12 John Bathgate You know, drops of molten tin, the whole spiel from ASML, which Ben, by the way, you did a very good job on the, uh, on the TCC episode.
• ▶ 1:39:20 John Bathgate I think like multiple times you were like, can I do the ASML thing now?
• ▶ 1:39:44 John Bathgate Uh, I mean, ASML's partnership with Zeiss, the lens company is also like really special.
• ▶ 1:39:49 John Bathgate 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.
• ▶ 1:40:07 John Bathgate With one of the things that's unique about ASML is, you know, 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…
• ▶ 1:40:31 John Bathgate And so there's actually this really cool conference called SPIE every February where all of ASML's customers come together
• ▶ 1:40:42 John Bathgate And so TSMC lived through 10 of the, or ASML lived through 10 of those, um, with all the, the, um, feedback, not just from, um, TSMC, but from all their ecosystem partners, right?
• ▶ 1:40:51 John Bathgate And so I just feel like the, the learning cycle that ASML has been through, there's just so much more innovation beside, um, in addition to the laser, um, and, and the, um, the lenses, but it is, I mean, the lens is a really critical…
• ▶ 1:41:02 John Bathgate I mean, ASML actually bought a laser company in
• ▶ 1:44:12 John Bathgate Yeah, I, I think this is a really cool story about kind of how ASML came to be ASML and so strategic to the world is, um, you know, they had one competitor, which is Nikon in the lithography market.
• ▶ 1:44:27 John Bathgate And so I think TSMC and Samsung and Intel kind of looked around and realized like we're betting the future of Moore's law on this one company, ASML, which at the time was like kind of a sleepy Dutch company that would have like a twenty…
• ▶ 1:44:37 John Bathgate Like no one really knew who ASML was in 2012.
• ▶ 1:44:41 John Bathgate Unique is that, um, Intel and TSMC and Samsung partnered and actually bought 25% of ASML to inject capital into ASML to develop EUV systems.
• ▶ 1:45:03 John Bathgate Um, and honestly, and like they were, everyone in the semi industry knew how important ASML was at the time, but
• ▶ 1:45:08 John Bathgate Like, the world didn't really understand that, and so, um, getting ASML where they needed to be, um, on a UV obviously is now, you know, enabling Moore's Law for the next at least 10 years.