{ "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": 293, "pageCount": 334, "prevPage": 292, "nextPage": 294, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a Q&A format to build credibility for the claim that customers are working around Lasertec's technology.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/293", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-293", "components": [ { "bbox": null, "kind": "callout", "text": "Intel, TSMC, and Samsung are quietly using their own in-house inspection system using an alternative HHG source given problems with Lasertec", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b7-702e-961e-956479a6bd2a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.52 }, "kind": "list", "text": "A: “TSMC, but they did some things. They generally made essentially their own inspection system and in-house inspection system, and so did Intel. Intel doesn’t talk about it, but they did.”\nQ: “For EUV masks, they did their own system?”\nA: “For EUV mask inspection so they can see what the defects are, and they all ended up essentially using the same kind of technology. They used a high harmonic generation source because that's the only other source that you can have that can give you close to 13.5 nanometers, but those are—the power is very, very small. Those are nanowatts. So, everybody was doing this, some quietly and some more publicly. Samsung, we knew, but Intel and TSMC all did the same.”\nQ: “High harmonic generation—is that the term you used?”\nA: “HHG. They used an HHG source. Samsung still uses it, and so does TSMC, and most likely Intel does it too. But Intel is very quiet about what they do. Intel has a mask shop in California. Frank Abboud runs it.” – Leading EUV lithography expert close to Lasertec’s customers", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "617475e2-a81a-4c06-b81e-4b2c1d97d193", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "A leading EUV lithography expert who interacts closely with all key players - Lasertec, Intel, KLA, and others - told us that all three of Lasertec’s key customers have quietly built their own EUV mask inspection systems as a workaround given its defective tool, using a low power EUV source called High Harmonic Generation (HHG) - they “made essentially their own...in-house inspection system...so did Intel...Intel doesn’t talk about it, but they did”; “they all ended up essentially using the same kind of technology...high harmonic generation...the power is very, very small...everybody was doing this, some quietly and some more publicly...Samsung still uses it...so does TSMC...most likely Intel does it too...but Intel is very quiet about what they do.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4547bbd4-7ab3-4abe-9ee7-4fc96aaae31a", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "TSMC, but they did some things. They generally made essentially their own inspection system and in-house inspection system, and so did Intel. Intel doesn't talk about it, but they did. ... everybody was doing this, some quietly and some more publicly. Samsung, we knew, but Intel and TSMC all did the same. ... Samsung still uses it, and so does TSMC, and most likely Intel does it too. But Intel is very quiet about what they do. — Leading EUV lithography expert close to Lasertec's customers", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b7-702e-961e-989ca25996dd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.07, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f6f1f786-fb52-4ae2-85c6-daf52c39b42d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "title", "text": "Intel, TSMC, and Samsung are quietly using their own in-house inspection system using an alternative HHG source given problems with Lasertec", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2919fef4-decc-43db-b0e0-6dfc927b2d66", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "eb31dee4-a272-4412-a24d-77236ed8f1fb", "evidence": "The slide presents expert testimony to contradict the public narrative of Lasertec's market dominance.", "confidence": 0.8 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }