ASML

“If this ever hits ASML's orders, maybe it hits it in five years, and like, the market has forgotten about it, gotten worried about it, forgotten about it, gotten worried about it, forgotten about it, multiple times along the way. so I do think that was prob…”

“Well, ASML stock is down 17% on news that China is getting into that business and Chinese memory maker CX MT went public surging almost 500% on its debut market cap over four 50. And so that hurt Micron Samsung, et cetera, who were all down.”

“Our largest position right now is ASML, a monopoly in a key part of the semiconductor value chain.”

“I think the chip industry Requires you to go through TSMC, and TSMC requires you to go through ASML or Samsung. I think there are reasonable choke points to manage those challenges.”

“You see ASML, Is completely sold out, and they need Carl Zeiss to expand faster.”

“I think to protect yourself, you need to have an ASML strategy. So figure out in the technologies of the future, where can you develop a capability that the world will need?”

“ASML is at the top of a pyramid of more than 300 companies.”

“Their last round was led by ASML. 1.3 billion dollars from the Dutch chip maker.”

“And so making models specifically, specifically good at a certain kind of physics when you're, when we're working with a company doing planes, for instance, or when we're working with ASML making models that are specifically good at operating their machines th…”

“ASML, which is like the Netherlands biggest company, most valuable company, isn't able to build extra factory because it cannot get an electricity connection for the next few years.”

“And I think a lot of things actually, like TSMC, like ASML, those are hard problems that eventually will get easy with robotics, et cetera, but robotics are lagging behind. So I think there's these hard problems that will exist even in two years, and if you're…”

“ASML, the Dutch company, they did what's called a customer co-investment program. Where Intel, TSMC, and Samsung pitched in 6.8 billion dollars across R&D funding and equity purchases in the company in order to help pull in order to help ASML. This is 2012.”

“The number of people who directly interface with the products of TSMC, ASML, SpaceX, NVIDIA, like how many people do a tape out of TSMC? How many people run an ASML EUV machine is minuscule number of people. And so there are these giant companies where their c…”

“There hasn't been a whole lot of effort, you know, so domestically in the United States to really do anything around lithography. We've just kind of accepted that the Dutch, right? I think it's a Dutch company. You know, are gonna, you know, have that monopoly…”

“With ASML. It's like, okay, this is like a, you know, sort of European company. And like, if we start to try to like sanction or slap fines on them, they'll be like, okay, great. The very limited number of machines we were selling to the U S we're going to sto…”

“That's where it's like, I think actually you're sort of better off starting with a blank slate on a totally different technological approach and just like domesticating that.”

“Like, I don't think that like trying to just copy the ASML tech tree makes any sense. I'm not sure that anybody else has come up with an energy source that like, you know, sort of as an option. So there probably needs to be like some, you know, sort of back. S…”

“She started buying the day after they paused it. The day before and the day after, on the eighth and ninth. She bought Apple, she bought Qualcomm, she bought Nvidia, AMD, ASML.”

“I could easily see us provoking Europe to the point where the ASML team just says, well, screw it. We don't care what you say. We're selling to China.”

“ASML, who makes the extremely complicated Lithography machines, as an example, can't necessarily do that for another five or six years here.”

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

“China is actively working to catch up in chip fabrication with SMIC and SME. So they have their own TSMC, they have their own NVIDIA, and they have their own ASML.”

“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'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.”

“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.”

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

“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.”

“They, each machine costs about two hundred million dollars.”

“Is it feasible for the U.S. To say we're gonna build our own ASML like tomorrow? No. I mean, it's just gonna take like 10 plus years, right? EUV lithography just takes a really long time.”

“I don't think blocking ASML or blocking AI technology or blocking anything is working. It's just not working”

“Now, to be fair, we ended up building a dam across half the river because while we put export controls on the U S companies, Tokyo electron and ASML, who provide the other parts of the machinery, don't have export controls.”

“Their attempts to replicate companies like ASML and LAM and build their own equipment for manufacturing semis has also produced almost nothing.”

“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.”

“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…”

“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 …”

“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.”

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