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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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  "notes": "The slide uses a Q&A format to validate the thesis that the product is not suitable for high-volume manufacturing.",
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      "text": "Q: “How many of the Lasertec actinic machines does Global Foundries have now?”\nA: “We have two.”\nQ: “When was the last one purchased?”\nA: “They're both A150, so 2019 and 2021.”\nQ: “So, you guys haven't bought any since then?”\nA: “Correct.”\nQ: “Why is that? Unhappy with reliability and so forth, or didn't need it?”\nA: “I would just say capacity needs. We have a very limited program. We're not using EUV in the way others are using it.”\nQ: “Are those two Lasertec machines being used a lot? Are they idle? What's the customer feedback?”\nA: “The customer feedback is they're not flat out in terms of pushing max capacity. There's some engineering work done on them—used for engineering evaluations, particularly of new materials.”\nQ: “Is it fair to say they're an occasional R&D tool?”\nA: “They are occasionally an R&D tool.”\nQ: “So, they're not really being used in production right now?”\nA: “They're not …” — Longtime executive at Global Foundries; directly involved with Lasertec and all aspects of mask inspection",
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      "text": "Global Foundries only purchased two Lasertec actinic machines; haven't bought one since 2021; merely an “occasional R&D tool”; not used in a production/fab environment",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "The executive indicated that Global Foundries only purchased two of the Lasertec EUV actinic inspection machines and haven't bought any since 2021, disparaging it exactly as TSMC did in our interviews as merely an “occasional R&D tool” that can’t be used in a fab/production environment.",
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