{ "docId": "019dd923-622c-750b-8b9a-0f4bec37392f", "docSlug": "f982379e2e48", "documentTitle": "Lasertec Corporation (6920)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-06-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 124, "pageCount": 334, "prevPage": 123, "nextPage": 125, "slideType": "problem_statement", "function": "diagnose_problem", "density": "overcrowded", "nDataPoints": 3, "notes": "The slide uses expert testimony to validate the claim of low reliability.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/124", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-124", "components": [ { "bbox": null, "kind": "callout", "text": "Multiple engineers indicated that the tools only work a bit more than half the time, with 60-65% uptime, angering both Intel and TSMC, as we detail in a later section.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b6-764f-bc80-b3140e3dbdc3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.86, "x": 0.07, "y": 0.58 }, "kind": "list", "text": "Each ACTIS actinic inspection tool requires “at least 4 skilled field service engineers”\n“The actinic tool requires at least four skilled field service engineers for the laser source, chamber, hardware, and others.” – Former Lasertec product engineer; 20 years in the industry and previously part of the EUV task force at one of the top 3 semiconductor companies in the world", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "064ca83d-f520-4f54-a119-d7fed179a342", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.82 }, "kind": "list", "text": "ACTIS tool only had 65% uptime at Intel mask shop\nQ: “When you added it up, how much usage was Intel able to get out of the machine? How often was it down”\nA: “Utilization, we were probably at 65% based on the 24/7 goal.”\nQ: “That’s pretty poor.”\nA: “Yeah. That kind of came with the territory.” – Former Lasertec field service engineer who worked in the Intel mask shop", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "28184a41-32b1-4011-a1a9-c62844f81676", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.86, "x": 0.07, "y": 0.7 }, "kind": "list", "text": "ACTIS actinic inspection tools have only 60% uptime\nQ: “What was the uptime on the Lasertec actinic machine?”\nA: “[T]he actinic and EUV tools remain at 60%.” – Former Lasertec product engineer; 20 years in the industry and previously part of the EUV task force at one of the top 3 semiconductor companies in the world", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4063380d-836a-409e-8650-0cd6c59dfb73", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "uptime: 60-65%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd953-78b6-764f-bc80-b9d5b5f054d2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.32 }, "kind": "paragraph", "text": "We previously quoted an ex-Lasertec field service engineer who stated that each single ACTIS actinic inspection machine requires 3 full-time engineers for troubleshooting. A second ex-product engineer stated that the service requirements are so exorbitant that each tool actually requires “at least 4 skilled field service engineers.” Multiple engineers indicated that the tools only work a bit more than half the time, with 60-65% uptime, angering both Intel and TSMC, as we detail in a later section. When we remarked that the utilization is poor, one engineer replied “Yeah. That kind of came with the territory.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a85b731e-29a3-490f-9144-4a61e6de0f48", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"The actinic tool requires at least four skilled field service engineers for the laser source, chamber, hardware, and others.\" — Former Lasertec product engineer; 20 years in the industry and previously part of the EUV task force at one of the top 3 semiconductor companies in the world. \"[T]he actinic and EUV tools remain at 60%.\" — Former Lasertec product engineer; 20 years in the industry and previously part of the EUV task force at one of the top 3 semiconductor companies in the world. \"Yeah. That kind of came with the territory.\" — Former Lasertec field service engineer who worked in the Intel mask shop.", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b6-764f-bc80-b470ce261c12", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.07, "y": 0.96 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "51654859-4441-4340-a8ed-c4fe55614a09", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "The third fatal problem with Lasertec’s EUV-based inspection tool, in addition to contamination/debris and light source instability/flickering, is pitifully low reliability that leads to low uptime and throughput, compounded by onerous cleaning and maintenance.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2c52e34d-af88-45e2-a9d4-b70901d55f1a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }