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  "documentTitle": "Lasertec Corporation (6920)",
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  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "The slide uses a Q&A format to validate the claim that the TAM for these machines is limited.",
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      "text": "Hence, the TAM for EUV mask inspection machines is entirely dependent on their use in a production environment in a fab, where TSMC stated it is unusable: “it’s not for production, it’s for EPL,” referring to their internal name for their mask shop.",
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      "text": "TSMC only purchased six of the ACTIS A150 machines; don't appear to have purchased any in years\nA: \"TSMC probably purchased six ACTIS A150.\"\nQ: \"They purchased how many?\"\nA: \"In TSMC, six.\"\nQ: \"Of the A150?\"\nA: \"Yes.\"\nQ: \"And do you know when?\"\nA: \"2019. I think 2020 also...the A150, the pricing is so expensive, around $50 million, and the purchasing price in TSMC is around $50 million...yes, six tools. And they demand it for EPL. It's not for production; it's for EPL.\" – Longtime ex-TSMC procurement executive who introduced Lasertec inspection tools into TSMC",
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      "text": "He indicated that TSMC only purchased six of the ACTIS EUV machines at $50 million each, mostly around 2019/2020 and don't appear to have purchased any more in years: \"the pricing is so expensive.\" TSMC's only use case is in the mask shop, which requires only a small number of machines – we note that Intel's mask shop only appears to have three Lasertec machines. Hence, the TAM for EUV mask inspection machines is entirely dependent on their use in a production environment in a fab, where TSMC stated it is unusable: \"it's not for production, it's for EPL,\" referring to their internal name for their mask shop.",
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      "text": "“2019. I think 2020 also...the A150, the pricing is so expensive, around $50 million, and the purchasing price in TSMC is around $50 million...yes, six tools. And they demand it for EPL. It's not for production; it's for EPL.” — Longtime ex-TSMC procurement executive who introduced Lasertec inspection tools into TSMC",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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