ASML, every mention
26 scenes (2025) · ← back to ASML
tap a year for its mentions
every year 2025 anyone Ben Gilbert 32John Bathgate 20David Rosenthal 13Brinton Johns 5Hamilton Helmer 1
Verbatim, from the transcripts: the passages where ASML comes up
TSMC founder Morris Chang · Acquired
- ▶ 2:24:32 Ben Gilbert Um, so they're, you know, they're not NVIDIA, they're not ARM, they're not Cadence Synopsys, they're not ASML, like they're not their own equipment vendor.
- ▶ 2:27:36 David Rosenthal Not only TSMC, ARM, Synopsys, Cadence, and ASML all founded,
TSMC · Acquired
- ▶ 1:08:19 Ben Gilbert ASML, which was originally ASM Lithography, and lithography is marginally in scope for this episode.
- ▶ 1:08:32 Ben Gilbert And the L, you know, is lithography, so the company was originally called ASMLithography.
- ▶ 1:08:36 Ben Gilbert They make the most advanced chip manufacturing machines in the world.
- ▶ 1:08:42 Ben Gilbert They're the only company that makes them.
- ▶ 1:08:44 Ben Gilbert They're located still in the Netherlands.
- ▶ 1:08:47 Ben Gilbert Their biggest customer is TSMC.
- ▶ 1:08:50 Ben Gilbert They, and this is where I want to bring it all the way back around, and we, of course, will talk about the magic that is these machines later.
- ▶ 1:08:57 Ben Gilbert It was founded in
- ▶ 1:09:20 David Rosenthal I mean, because, well, 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.
- ▶ 1:23:40 Ben Gilbert To do this stuff, to make the equipment that ASML does, and to manufacture the way that TSMC does, it is the hardest thing to do in the world.
- ▶ 1:23:49 David Rosenthal Anybody else could get all the same equipment from ASML.
- ▶ 1:24:01 Ben Gilbert All right, I'm jumping out of my seat here, so I'm going to do the ASML thing now.
- ▶ 1:24:04 Ben Gilbert So the reason that some people can't get their hands on the ASML equipment is because the Netherlands did not renew their trade agreement with China.
- ▶ 1:25:08 Ben Gilbert So you buy one, your TSMC, you buy one and it arrives in, of course, the seven 47, then there's a crew of ASML employees on site, not only to assemble it, but then to help you run it.
- ▶ 1:27:40 Ben Gilbert Well, ASML actually needed to invent a new type of mirror to do this, and they also needed a contract with a German company to make this special type of laser, which is the only known company in the world capable of making it.
- ▶ 1:27:59 Ben Gilbert They used to have competitors, like Nikon used to compete with ASML on this, but it's too hard.
- ▶ 1:29:04 David Rosenthal When we get the shipments from ASML, you can make this happen.
- ▶ 1:57:40 David Rosenthal All of their IP, all of their, you know, people, all of their know-how, all of their relationships with ASML and the like.
- ▶ 1:58:09 David Rosenthal If all the crazy laser molten tin ASML stuff we were talking about, if all of a sudden there's discovered a new, either different or way cheaper, quantum computing, yeah, way to do this, then that kind of could reset the playing field.
- ▶ 2:03:49 David Rosenthal ASML now sends the stuff somewhere else.
- ▶ 2:09:17 Ben Gilbert As a matter of fact, ASML is actually larger than Intel by market cap.
- ▶ 2:09:41 David Rosenthal Be super curious, if you are along this thesis that we're sort of laying out on the show, how are you playing it between TSMC and ASML?
- ▶ 2:09:48 Ben Gilbert ASML, which is now Europe's most valuable company.
- ▶ 2:18:14 Ben Gilbert So how much do we ascribe to them versus ASML?