SPIE Monterey- ASML, INTC – High NA Readiness- Bigger Masks/Smaller Features

– SPIE Photomask -all about High NA and bigger masks
– High NA will ramp very fast & is ramping fast – two already at Intel
– Doubling size of photomask will offset High NA exposure size problem
– Assembling litho tools at customer saves time/money- “Scanner Kits”

Christophe Fouquet of ASML

The new CEO of ASML, Christophe Fouquet gave a great opening/keynote speech which centered around High NA EUV.

Its clear that that High NA EUV will not likely have any of the delays that plagued the original EUV roll out. We should expect a relatively rapid rollout and adoption as High NA is more of an “upgrade” to EUV rather than a whole new product .

Christophe spoke about the new methodology of assembling scanner sub components at the customers site rather than assembling them at ASML only to take them apart and reassemble the tool a second time at the customer site.

This has already been done for less complex dep and etch tools and similar tools for a while now but doing it with a high complex litho tool is another thing entirely. But it will save a ton of time and money. This will add to the acceleration of High NA.

Mix and match lens assemblies in the future

The only real difference between a regular EUV tool and a High NA tool is the lens stack, so if you design a tool where the lens stack is in the middle you could swap in regular EUV lenses, High NA lenses or Hyper NA lenses into the same basic tool.

It makes for a ton of commonality , more cost savings, simplicity etc. The modular approach that ASML is taking is supporting this approach.

It will clearly help costs, margins and install times.

Also mentioned during the presentation is that ASML is up to a solid 740 watt source in San Diego with a clear path to 1000 Watts.

All in all, Christophe did a great job in one of his first major public appearances since taking the reigns. His overall overview was great.

Big masks are a “no brainer”- Christophe Fouquet

The idea of doubling mask size from 6″X6″ to 6″X12″ was started in earnest at last years SPIE by Intel. It picked up a lot of speed and support at this years conference with many companies in the Photomask infrastructure signing on to the effort. Chief among those , and key, was ASML (Chritophe) calling the adoption of double size masks a “no brainer” for the industry throwing ASML’s huge weight behind the change.

It also makes obvious sense for ASML as it helps overcome the die size limitation of High NA. The 40% performance improvement is well worth the switch alone

Mark Phillips of Intel underscored the High NA message

Mark Phillips of Intel followed Christophe Fouquet to continue the High NA theme. Intel now has two installed/working High NA systems in Portland.

Mark showed some very nice images from both of the systems, that show the improvement that High NA brings over standard EUV which may be better than expected. The install of the second system went faster than the first as there has been learning.

Its important to note that all the infrastructure that High NA needs is already in place and working. Actinic mask inspection for High NA is already working. So there is not much ancillary support work to be done to get it into production.

Mark was also asked a question about CAR (chemically amplified resists) versus Metal Oxide resists and he said that CAR is fine for now but that we may need metal oxide some time in the future. This seems to push out significantly the need for metal oxide resists such as Lam’s dry resist , much further into the future . Not good news for JSR or Lam.

The targeted insertion point is the Intel 14A process which will be in about 3 years, which again is likely faster than expected.

(The only glitch we heard about at the conference about High NA was that getting the huge High NA tools off the tractor trailer into the fab in Portland was problematic as the trailer bent under the extreme weight load!)

This near flawless install/turn on is good news for Intel as it is a needed “win” for their execution plans especially after being slow to the original EUV rollout

TSMC playing hard to get on High NA but will be forced to come along

As compared to its quick embrace of the original EUV rollout, TSMC has been slow to embrace High NA citing its cost. In our view, this is a bit of a positioning/negotiating game on the part of TSMC perhaps gaming for better terms from ASML.

We don’t think they will hold out very long especially if Intel starts to get a lead on High NA tools. TSMC will have to cave in and go along. TSMC has also been slow on the mask doubling Intel has championed but will also eventually go along as its a free performance increase for them.

Rumors at the conference

We heard that Christophe Fouquet of ASML and Anne Kelleher of Intel got together on Sunday before the conference opened…perhaps to talk about their partnership on the High NA rollout.

We think there may be some good news on the horizon for KLA and its long delayed Actinic mask inspection program, which is well needed.

The Stocks

We would view the conference as obviously very positive for the rollout of High NA EUV and the overall technology progress of Moore’s Law.

It was obviously positive for both Intel and ASML. Certainly good for Intel that needs all the technology wins it can get and High NA is perhaps the most critical technology change the industry is currently undergoing.

Its also positive for ASML as the stock has been shaky and under pressure in large part due to the China issue which has overshadowed the larger technology progress on High NA.

On the larger semiconductor market, it remains all about AI, AI and AI….nothing much else matters.

Trailing edge remains weak as everything revolves around AI.

About Semiconductor Advisors LLC

Semiconductor Advisors is an RIA (a Registered Investment Advisor),
specializing in technology companies with particular emphasis on semiconductor and semiconductor equipment companies. We have been covering the space longer and been involved with more transactions than any other financial professional in the space. We provide research, consulting and advisory services on strategic and financial matters to both industry participants as well as investors. We offer expert, intelligent, balanced research and advice. Our opinions are very direct and honest and offer an unbiased view as compared to other sources.

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