{ "docId": "019dd923-622c-750b-8b9a-3e539d2729fa", "docSlug": "a8e4eb348e06", "documentTitle": "Lasertec Corporation (6920)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-06-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 34, "pageCount": 56, "prevPage": 33, "nextPage": 35, "slideType": "key_takeaways", "function": "summarize", "density": "dense", "nDataPoints": 1, "notes": "The slide uses anecdotal evidence from an ex-Lasertec field service engineer to support the thesis that Lasertec's technology platform is fundamentally flawed.", "elementsJson": [ "headline_text", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-3e539d2729fa/34", "deckHref": "/decks/019dd923-622c-750b-8b9a-3e539d2729fa", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-3e539d2729fa.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-3e539d2729fa#slide-34", "components": [ { "bbox": null, "kind": "callout", "text": "The similarity between both the light source and particle contamination issues for Lasertec's DUV and EUV products suggests a fatally flawed and defective technology platform.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-25b2-736e-8e61-2fd535407589", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.85, "x": 0.07, "y": 0.53 }, "kind": "paragraph", "text": "The Lasertec field engineer stated that the MATRICS DUV product suffers from particle contamination issues just like the ACTIS EUV line, leading TSMC engineers to complain: “...design is very bad because of the particle issue...the Lasertec machine isn’t designed very well...it’s suffering from so many particle issues...[the tool] is not very clean.” The tools require a shocking 10 hours of daily cleaning to address particle contamination, leading to a low uptime of less than 60%, with an onerous protocol including UV light to scan for stray particles.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1c93a3ae-b4b5-49b8-bc18-5aad0b0f359b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.85, "x": 0.07, "y": 0.35 }, "kind": "paragraph", "text": "However, although TSMC is forced to rely on Lasertec’s old DUV tools versus EUV, its DUV line – known as MATRICS X8 ULTRA, and the more recent X9 – is plagued by light source defects as serious as those in its EUV source.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "652c25e4-9026-4496-a626-63ad796d5335", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.85, "x": 0.07, "y": 0.76 }, "kind": "paragraph", "text": "The field engineer stated that Lasertec’s DUV light source is unstable for not just the old MATRCIS X8 DUV product but for the new X9 as well... The similarity between both the light source and particle contamination issues for Lasertec’s DUV and EUV products suggests a fatally flawed and defective technology platform.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "90fdb13e-8acf-486e-8de3-efb4bd1b13d8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.85, "x": 0.07, "y": 0.17 }, "kind": "paragraph", "text": "TSMC has concluded that EUV mask inspection is a failure given Lasertec’s defective technology, and now simply uses legacy DUV tools instead with a ~200nm light source – stating that DUV is sufficient for EUV masks in production.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b58fc1ff-6674-48f9-af2a-366426faa0c7", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "if you care about production throughput, you have to use a 213nm light source. TSMC just wants to do quite frequent monitoring...a quick check...the best resolution is not necessary. — TSMC Executive; the laser source is unstable for the X8, X9 ULTRA; it has a lot of software bugs; bug is always causing random problems...they cannot find critical defects, or the resolution is very bad...the image processing is very bad. — Ex-Lasertec field service engineer; design is very bad because of the particle issue...the Lasertec machine isn't designed very well...it's suffering from so many particle issues...[the tool] is not very clean. — Lasertec field engineer", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-25b2-736e-8e61-3152cf4bf496", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.07, "y": 0.12 }, "kind": "title", "text": "6B. Struggles at TSMC (cont’d)", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b383edfc-f0c5-4bd4-b32e-179b1079e460", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Detailed summary / key findings", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "582a54ee-35a4-4a4a-847e-57eea2544164", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Contrast Principle", "slug": "contrast-principle", "agent": "Designer", "layer": "slide", "matchId": "62ace66f-cfb4-4ac9-b421-4f22a232498a", "evidence": "The slide presents contrast between Lasertec's EUV tool and KLA's legacy DUV tools, highlighting differences in performance and economics.", "confidence": 0.6 } ], "frameworks": [], "arcBeats": [ { "to": 56, "from": 31, "beatId": "3f095ed5-de2f-4a64-bb32-5a79c5566416", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and summary of Lasertec's dire situation", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [ { "to": 40, "from": 20, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "905755ed-1026-45f4-a058-5cbb7c876733", "evidence": "The document emphasizes the severe consequences of ignoring Lasertec's problems", "position": 1, "objective": "Highlight the consequences of inaction regarding Lasertec's issues", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }