ASML Holding N.V. (commonly shortened to ASML, originally standing for Advanced Semiconductor Materials Lithography) is a Dutchmultinational corporation founded in 1984. ASML specializes in the development and manufacturing of photolithography machines which are used to produce computer chips.
As of 2023[update] it is the largest supplier for the semiconductor industry and the sole supplier in the world of extreme ultraviolet lithography (EUVL) photolithography machines that are required to manufacture the most advanced chips.[2]As of November 2024[update], ASML was the fourth most valuable company in Europe, and the second most valued European tech company, with a market capitalization of about US$264 billion.[3][4]
ASML's corporate headquarters is in Veldhoven, Netherlands and the location for research, development, manufacturing and assembly. ASML employs more than 42,000 people[1] from 143 nationalities and relies on a network of nearly 5,000 tier 1 suppliers.[5] ASML has a worldwide customer base and over sixty service points in sixteen countries.[5] It has offices in the Netherlands, the United States, Belgium, France, Germany, Ireland, Israel, Italy, the United Kingdom, China, Hong Kong, Japan, South Korea, Malaysia, Singapore, and Taiwan.[5]
ASML produces the photolithography machines used in the production of computer chips. In these machines, patterns are optically imaged onto a silicon wafer that is covered with a film of light-sensitive material (photoresist). This procedure is repeated dozens of times on a single wafer. The photoresist is then further processed to create the actual electronic circuits on the silicon. The optical imaging that ASML's machines deal with is used in the fabrication of nearly all integrated circuits and, as of 2011, ASML had 67 percent of the worldwide sales of lithography machines.[8]
Deep ultraviolet (DUV) lithography devices from ASML use light that penetrates the UV spectrum to print the tiny features that form the microchip's structure.[13]
EUV lithography
EUV lithography is a critical technology used to create the smallest and most complex chip designs. ASML holds a near-monopoly in the EUV market, with no significant direct competitors. The company's machines are capable of etching patterns as small as 8 nanometers, a remarkable achievement given that human hair is approximately 80,000 nanometers thick.[14]
Extreme ultraviolet lithography (EUV) machines produce light in the 13.5nm wavelength range when a high-energy laser is focused on microscopic droplets of molten tin to produce a plasma, which then emits EUV light. The light is bounced off Zeiss mirrors onto the surface of a silicon wafer to deliver the designs for the chip.[15]
In 2009, the IMEC research center in Belgium produced the world's first functional 22nm CMOSStatic random-access memory memory cells with a prototype EUV lithography machine.[16] After decades of development, ASML shipped the first production extreme ultraviolet lithography machine in either 2011[12] or 2013.[17]
As of 2022[update], ASML has shipped around 140 EUV systems, and it is the only company to manufacture them.[2] ASML's best-selling EUV product has been the TWINSCAN NXE:3600D, which costs up to $200 million.[2] Shipping the machine the size of a truck requires moving 180 tons with three Boeing 747s.[18]
ASML is working on the next generation of EUV systems, with the first shipments to customers for R&D purposes expected to take place at the end of 2023.[17] The platform is designated High-NA as it will increase the numerical aperture (NA) from 0.33 to 0.55,[17] and each system is expected to cost $300 million.[2]
ASML's EUV machines have experienced a significant surge in demand in recent years, driven by modern electronics' increasing complexity and performance requirements. This surge in demand has translated into steady revenue growth for the company, reaching $30 billion in 2023, up from $13 billion five years earlier.[14]
History
The company, originally named ASM Lithography, is named ASML as its official name and not an abbreviation.[19] It was founded in 1984 as a joint venture between the Dutch companies ASM and Philips. Nowadays it is a public company. When the company became independent in 1988, it was decided that changing the name was not desirable, and ASML became the official company name.[20]
ASML released the lithography system PAS 5500 in 1991, which became an extremely successful platform for the company.[21] The PAS 5500 was first utilized by Micron Technology, which was one of the world's largest producers of computer memory and storage, and ASML's largest customer at that time.[22] The success of the PAS 5500 line propelled ASML into strong competition with Canon and Nikon, who were the leaders in that era of the lithography market.[21]
In 1997, ASML began studying a shift to using extreme ultraviolet and in 1999 joined a consortium, including Intel and two other U.S. chipmakers, in order to exploit fundamental research conducted by the US Department of Energy. Because the CRADA it operates under is funded by the US taxpayer, licensing must be approved by Congress. It collaborated with the Belgian IMEC and Sematech and turned to Carl Zeiss in Germany for its need of mirrors.[23]
In 2000, ASML acquired the Silicon Valley Group (SVG), a US lithography equipment manufacturer also licensed for EUV research results, in a bid to supply 193nm scanners to Intel Corp.[24][25]
In 2002, it became the largest supplier of photolithography systems.[26]
At the end of 2008, ASML experienced a large drop in sales, which led management to cut the workforce by about 1000 worldwide, mostly contract workers[27] and to apply for support from the Dutch national unemployment fund to prevent even larger layoffs.[28] Two and a half years later, ASML expected a record-high revenue.[29]
In July 2012, Intel announced a deal to invest $4.1 billion into ASML in exchange for 15% ownership, in order to speed up the transition from 300mm to 450mm wafers and further development of EUV lithography.[30][31] This deal was without exclusive rights to future ASML products and, as of July 2012, ASML was offering another 10% of the shares to other companies.[32] As part of their EUV strategy, ASML announced the acquisition of DUV and EUV sources manufacturer Cymer in October 2012.[33]
In November 2013, ASML paused development of 450mm lithography equipment, citing uncertain timing of chipmaker demand.[34]
In 2015, ASML suffered intellectual property theft. A number of employees had been found stealing confidential data from its Silicon Valley software subsidiary that develops software for machine optimization.[35]
In June 2016, ASML announced their plans to acquire Taiwan-based Hermes Microvision Inc. for about $3.1 billion to add technology for creating smaller and more advanced semiconductors.[36]
In 2018, the Trump administration tried to block the sale of ASML technology to China,[37] but as of 2021, the ongoing global chip shortage as well as the "technological cold war" between the US and China had been a business opportunity for ASML.[18]
In November 2020, ASML revealed that it had acquired the German optical glassmaking firm Berliner Glas Group in order to meet increasing need for components for its EUV systems.[38]
In July 2021, European Commissioner Thierry Breton, visited ASML and announced a goal of at least 20% of world production of semiconductors in Europe by 2030, and support via a European Alliance on semiconductors.[39] After reporting earnings in July 2021, the company said they had a near monopoly for machines used by TSMC and Samsung Electronics to make the advanced chips.[40]
In February 2023, ASML claimed that a former worker in China "allegedly" stole information about the company's technology. This was not the first time that ASML was allegedly linked with an intellectual property breach connected to China. In its 2021 annual report, ASML mentioned that Dongfang Jingyuan Electron Limited "was actively marketing products in China that could potentially infringe on ASML's IP rights."[41] At the time, the United States Department of Commerce expressed concern about economic espionage against ASML.[42] In October 2023, Dutch newspaper NRC Handelsblad reported that the former employee who "allegedly" stole data about ASML's technology subsequently went to work for Huawei.[43]
In March 2023, the Dutch government placed restrictions on chip equipment exports in order to protect national security. This measure affected ASML as one of the most important companies in the global microchip supply chain.[44] Export license requirements came into effect in September 2023.[45]
In June 2023, the Netherlands' Institute for Human Rights ruled that despite the country's constitution prohibiting discrimination based on nationality, ASML was allowed to reject job applications from residents of countries subject to sanctions under the U.S. Export Administration Regulations (such as China, Cuba, Iran, North Korea, and Syria) in order to remain compliant with U.S. law.[46][47][48]
In January 2024, the Dutch government placed further restrictions on the shipment of some advanced chip-making equipment to China.[49]On 6 September 2024, the Dutch government tightened export controls on certain ASML chipmaking equipment, aligning its policy with U.S. restrictions to limit China's access to advanced technology amid safety and geopolitical concerns.[50][51]
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Sponsorships
ASML became a sponsor of the PSV soccer club in 2019 together with Philips. VDL Groep, Royal Swinkels Family Brewers and Jumbo Supermarkets from the Brainport region.[55][56] Together they run various initiatives like soccer training camps for school children, the development of interactive programs for teaching, assisting community members in need or who are new to the region, as well as supporting a vitality program that is online.[57][58]
Awards
The IEEE Spectrum Emerging Technology 2018 Award was given to ASML for its Extreme Ultraviolet Lithography system. ASML is currently the top supplier of photolithography systems to the semiconductor industry.[59]
In the category for Popular Prize, Vadim Banine received the 2018 European Inventor Award for shaping the future of microchip manufacturing.[60]
The largest independent microelectronics research center in Europe is called IMEC (Interuniversity Micro Electronics Centre). Martin van den Brink of ASML was given the 2019 IMEC Lifetime of Innovation Award.[61]
The Netherlands Association for Investor Relations (NEVIR), where listed companies and professionals in investor relations had the chance to be recognized for their outstanding work in the sector, presented awards to ASML in the categories: "Best Company in the field of Investor Relations" during the Dutch IR Awards 2019 annual award ceremony.[62]
ASML received the SEMI Americas Award at the 2020 edition of the microelectronics conference SEMICON West for its collaborative approach to extreme ultraviolet lithography (EUV), which helped it become commercially viable and opened the door to new technological possibilities.[63]
The Intel Preferred Quality Supplier (PQS) Award for 2020 was awarded to ASML. ASML has attained a level of performance that continuously surpasses Intel's expectations for the commitment to continual quality improvement.[64]
The Dutch Innovation Prize 2021 was awarded to ASML at the 4th National BID AVROTROS Innovation Dinner held at Kasteel Wittenburg in Wassenaar.[65]
ASML received the first CoSta Award for the most successful and impactful innovative partnership between a corporate company and a startup.[66]
Related Research Articles
Photolithography is a process used in the manufacturing of integrated circuits. It involves using light to transfer a pattern onto a substrate, typically a silicon wafer.
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↑ "ASML 2013 Annual Report Form (20-F)"(XBRL). United States Securities and Exchange Commission. 11 February 2014. Archived from the original on 24 September 2015. Retrieved 27 August 2017. In November 2013, following our customers' decision, ASML decided to pause the development of 450mm lithography systems until customer demand and the timing related to such demand is clear.
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