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  "documentTitle": "Lasertec Corporation (6920)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2024-06-05 00:00:00",
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      "text": "ASML’s LinkedIn profile shows 1,300 staff in San Diego where Cymer EUV source group is based",
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      "text": "The Cymer scientist stated that it is impossible for Lasertec to replicate a tin plasma-based LPP source similar to ASML’s, as it claims with its new “Urashima” technology.",
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      "text": "He stressed that it took Cymer and then ASML a combined 20 years of R&D to make it work, with Cymer having 300 dedicated staff just for the source; that ASML then spent “several billion dollars” more in R&D “on the source only,” after spending $4B to buy Cymer; and that there are currently ~600-1,000 ASML staff in San Diego facility where Cymer was based, dedicated just to the EUV source – “that’s the scale”; “Lasertec is not in a position to throw 100 people working on a source.” We note that LinkedIn confirms that ASML has ~1,300 staff in San Diego, where its EUV source division is based.",
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      "kind": "quote",
      "text": "Impossible for Lasertec to replicate ASML’s source; took Cymer/ASML 20 years and required hundreds of people; required “several billion dollars on the source only”; ASML currently has ~1,000 staff working on their EUV source; “that’s the scale”...",
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      "text": "“Now, the ASML EUV source is tin-based. That's what I'm kind of telling, that yes, it's possible, but it would require hundreds of people, which are like 100 people, 10 years, and a lot of money. I don't think that, for example, Lasertec is not in a position to throw 100 people working on a source. ASML and Cymer spent 20 years, and, on average, it was probably 300 people working per year, and then 20 years. ASML spent several billion dollars on the source only - maybe a couple of billion dollars in development. That's the scale. I joined ASML at Cymer in 1999 or maybe 2000, and I worked there for 11 years. And it went into production basically in 2017. That tells you the scope. When I left Cymer, there were 250 or 300 people in the source development team engineering. Right now, if you go to San Diego, I'm sure that there are 600-700, maybe 1,000 people working on it. It's a huge development.” — Leading figure in the development of Cymer/ASML’s EUV light source; headed EUV source effort at one of the largest semicap equipment companies; one of the top scientist/experts in the field",
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      "kind": "source-note",
      "text": "Source: Scorpion Capital consultation calls with experts; https://www.linkedin.com/company/asml/people/?facetGeoRegion=103644278",
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      "text": "The Cymer scientist stated that it is impossible for Lasertec to replicate a tin plasma-based LPP source similar to ASML’s",
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