Christophe Fouquet

Fouquet表示，即便按计划扩大产能，ASML仍将难以满足需求，客户已询问2029至2030年的交付。

ASML首席执行官Christophe Fouquet当时表示，即使按计划扩产，ASML也难以满足需求。

原文 (en)

Chief executive Christophe Fouquet said at the time that ASML would struggle to meet demand even with planned capacity increases.

Fouquet表示客户已有意订购2029至2030年设备，ASML预计2027至2028年计划产能将低于客户需求。

行政總裁Christophe Fouquet表示，客戶已表達對訂購2029與2030年設備的興趣。事實上，ASML現預期其2027與2028年計劃產能將低於客戶需求。

Fouquet表示，客户基于对AI投资的判断持续上调设备需求预测，部分客户甚至希望预订2029和2030年的产能。

我们的客户持续上调对我们设备的短期和中期需求预测，主要源于他们对AI相关投资规模和持续时间的判断。鉴于需求可见度，一些客户有意向我们下达2029年甚至2030年的订单。

原文 (en)

Our customers continue to increase their short- and medium-term equipment demand forecasts with us, driven primarily by their views on the size and duration of AI-related investments. In light of their demand visibility, some customers are expressing an interest in placing orders with us for 2029 and even 2030.

Fouquet称2027和2028年计划供应将无法满足需求，ASML正研究将2028年产能增幅提高到30%以上。

我们现在预计，按当前计划，2027年和2028年的供应都无法完全满足客户需求。因此，我们正在研究如何将2028年产能提升幅度提高到此前所称的30%以上。

原文 (en)

we now expect that our supply as currently planned for both 2027 and 2028 will not fully meet the demand of our customers. Given this, we are investigating ways to increase capacity for 2028 beyond the 30% increase we previously communicated.

Fouquet重申2030年营收440亿至600亿欧元、毛利率56%至60%的目标，称EUV成本改善推动光刻强度提升。

我们也看到，在EUV技术成本方面的持续进步正推动光刻强度提升，这在过去几个月再次得到验证。因此从长期看，与2024年11月所说一致，我们预计2030年营收在440亿至600亿欧元之间，毛利率在56%至60%之间。

原文 (en)

We also see that the progress we continue to make on our cost of technology with EUV is driving for more lith intensity and that's again something that has been confirmed in the last few months. So if we look in uh to the long term in line to what we said in November 2024 for 2030 we expect a revenue between 44 and 60 billion euro and a gross margin between 56 and 60%.

Fouquet称检测与量测业务增长近30%，多束电子束检测正变得愈发关键。

检测与量测方面，Roger提到了，今年增长近30%，这很显著。这意味着市场对这些产品需求旺盛，我们的产品也满足了客户在光学套刻量测和电子束检测方面的需求，而在电子束检测中，多束技术正变得越来越关键。

原文 (en)

Inspection methology, Roger touched on that. Uh almost 30% growth this year. Uh which is significant. uh it means that both the need for those product is high but also the product we're offering are basically meeting our customer need both on optical over metrology but also EBAM inspection and on eB inspection multi-beam is becoming more and more critical

Fouquet预计光刻强度上升，DRAM从6F²向4F²过渡将推动浸没式和Low-NA EUV用量增加。

我们也预计Low-NA EUV未来的使用会持续增加。我们谈了很多光刻强度。例如DRAM从6F²向4F²过渡时，我们预计浸没式和Low-NA的使用都会更多。

原文 (en)

We also expect low NAUV to continue to see more utilization moving forward. We talked a lot about litho intensity. When we look at for example the transition from 6 F square to 4S square on DM, we also expect both immersion and low NA to be used even more.

Fouquet称High-NA EUV认证进展顺利，英特尔已验收首台用于量产的EXE:5200。

看High-NA，客户在认证方面持续取得良好进展。我过去谈过三个阶段。许多客户正在用EXE:5000完成研发阶段。英特尔已报告验收了首台EXE:5200，这意味着他们拥有了首台将用于大规模量产的设备。

原文 (en)

Looking at INA, uh customer continue to make good progress on the qualification. I talked about the free phases in the past. A lot of customer are finalizing their R&D phases with the 5,000. Intel has reported that they have accepted their first 5200 which means basically they have the first tool that will be used in high volume manufacturing

Fouquet表示业界坚信AI需求真实存在，将推动从2026年开始并持续更久的大规模产能扩张。

总体而言，我们看到非常积极的态势。人们坚信AI需求是真实的，并为此做准备，短期内将大幅增加产能。这将从2026年开始并持续更久。

原文 (en)

So alto together we see a very positive dynamic. I think a strong belief that the AI demand is real and a preparation for that with on the short term a major addition of capacity. This will start in 2026 and will last beyond that.

Fouquet预计HBM和DDR需求强劲将导致DRAM供应在2026年及以后非常紧张，客户在1B/1C节点上增加EUV层数。

看DRAM，HBM需求当然非常强劲，DDR也是如此，这很可能导致至少在2026年、很可能更久的供应非常紧张。我们看到客户在爬坡1B、1C节点，这对满足需求至关重要，而在这些节点上他们正在增加EUV层数。

原文 (en)

When I look at DRM there also the demand is very strong for HBM of course but also for DDR and this mostly will lead to a very tight supply at least in 2026 and most probably beyond that. So we see our customer ramping 1B 1 C node which are going to be critical for that demand and on those nodes we see them increasing basically the amount of EUV layers.

Fouquet称逻辑芯片客户对AI需求可持续性更有信心，正加速产能规划并从4纳米转向3纳米。

先看逻辑芯片，我们看到客户开始对长期AI需求的可持续性更有信心，这意味着他们更愿意加速产能规划。他们也在从4纳米向3纳米过渡，这对先进技术的要求更高。

原文 (en)

If I look at logic first, so there I think we see our customers starting to be more comfortable about the sustainability of the long-term AI demand and this means that they are more willing to accelerate their capacity planning. They are transitioning also from 4 nanometer technology to 3 nometer technology which is going to be more demanding in term of advanced technology.

Fouquet表示过去几个月市场前景明显改善，AI基础设施建设正转化为先进芯片客户的产能需求。

我认为Roger已经说得很清楚，过去几个月市场前景明显改善，尤其是在AI应用（无论是数据服务器还是其他基础设施）的产能建设方面。现在我们开始看到这种建设也在转化为我们先进客户的产能需求。

原文 (en)

Well, I think that uh Ro already mentioned very clearly that uh the market outlook has notably improved in the last few months and this is especially true when it comes to the buildup of the capacity for AI application being data server or other infrastructure. Now we start to see that this uh buildup is also translating into need for capacity at our advanced customer.

Fouquet 表示 AI 正推动先进 DRAM 和逻辑发展、提升光刻强度，且这一趋势将持续。

我们说过 AI 很可能推动半导体更先进的应用。所以先进 DRAM、先进逻辑，我认为这正在发生，并推动更先进的光刻和更高的光刻强度，我们预计这将持续。

原文 (en)

we said that most probably AI will drive more advanced application in semiconductor. So advanced DM advanced logic I think this is happening and this is driving more advanced litho higher litho intensity and we expect that to continue

Fouquet 认为 3D 集成是新机会，ASML 的整体光刻技术可迁移至该领域，XT260 先进封装设备是首款产品。

客户告诉我们 3D 集成需要创新，因为他们的要求会越来越严格。审视这些要求时，我们发现我们为整体光刻开发的许多技术可以迁移到 3D 集成上，这就是我们正在寻找多个机会的原因。

原文 (en)

Our customer have told us that there is a need for innovation in 3D integration because their requirement will become more and more stringent. When we look at those requirements, we also see that a lot of the technology we have developed for holistic disography can be transferred to 3D integration and this is why we are looking at several opportunities.

Fouquet 称高 NA EUV 已在客户处运行超 30 万片晶圆，成熟速度快于当年的低 NA。

在高 NA 方面，我们分享了客户处已运行超过 30 万片晶圆，一些客户还报告称，高 NA 目前的成熟度明显领先于低 NA 在同一阶段的成熟度。

原文 (en)

on ina we shared the fact that at our customer more than 300,000 wafer were now run and some of our customer also reported the fact that the maturity of INA today is quite ahead of what the maturity of lo was at a certain period of time.

Fouquet 预计 2026 年净销售额不低于 2025 年，EUV 增长而 DUV 因中国因素下滑。

但对于 2026 年，我们仍预计净销售额不会低于 2025 年。从产品结构看，这些动态将有利于 EUV，我们认为 EUV 会增长，而中国的情况很可能会拉低 DUV 业务。

原文 (en)

but still for 2026, we expect our net sales to not be below 2025. If we look at our product mix, the dynamics are going to favor EUV, which we believe will increase, while the dynamic in China will most probably lower the business in DPUV.

Fouquet 预计 2026 年中国客户需求将较 2024-2025 年显著下降。

另一方面，看中国市场，我们认为中国客户 2026 年的需求将显著低于 2024 和 2025 年，那两年我们在中国的业务非常强劲。

原文 (en)

On the other hand, when we look at China, we believe that the demand of our Chinese customer is going to be significantly lower in 2026 than it has been in 2024 and 25 where we had very strong business there.

Fouquet 表示 AI 投入承诺推动先进逻辑和 DRAM 投资，且 AI 将惠及 ASML 更广泛的客户群。

首先，我们继续看到关于 AI 投入承诺的强劲消息，这意味着我们认为先进逻辑和 DRAM 的投资会增加。其次，这对我们非常重要，看起来 AI 将惠及我们更大一部分客户群。

原文 (en)

First, we continue to see strong news about commitment to AI, which means we think investment in advanced logic and DRM. Second, and that's very important for us, it looks like AI is going to benefit a larger part of our customer base.

Fouquet重申ASML 2030年收入440亿至600亿欧元、毛利率56%至60%的目标。

在长期预测方面，我们与资本市场日所说的保持一致。我们看到2030年总收入在440亿至600亿欧元之间、毛利率在56%至60%之间的机会。

原文 (en)

So in term of long-term forecast, we remain consistent with what we have said in our capital market day. We see an opportunity for 20130 of a total revenue between 44 and 60 billion euro and a gross margin between 56 and 60%.

Fouquet认为在AI推动下半导体长期市场非常强劲，尽管短期面临关税、出口管制和宏观不确定性。

长期来看半导体市场依然非常强劲，很多人认为AI确实是巨大机遇，我们再次看到AI的基本面非常强劲。当然短期存在一些不确定性，关税、出口管制、宏观经济不确定性等方面都有很多讨论。

原文 (en)

long-term the semiconductor market remains very strong and I think uh a lot of people say that AI is really a great opportunity and we have seen again the fundamentals around AI to be very very strong now of course shortterm talked about it some uncertainty there's a lot happening discussion around tariff export control microeconomic uncertainties

Fouquet宣布首台用于量产的High-NA EXE 5200已交付，产能达每小时175片晶圆。

我们已交付首台EXE 5200，这是将用于大规模量产的设备。设备正在安装中，提醒一下，它相比5000将为客户带来60%的生产率提升，即每小时175片晶圆。

原文 (en)

we have shipped our first EXE 5200 which is the tool that is going to be used in high volume manufacturing. The tool is under installed and as a reminder this will provide our customer with 60% productivity improvement compared to the 5,000. So we're talking about 175 wafer per hour.

Fouquet称NXE 3800的高产能使客户（尤其DRAM）以EUV单次曝光替代多重曝光，提升光刻强度。

由于更高的生产率，这款设备让客户能把更多多重曝光层转为单次曝光，从而降低复杂度、减少良率损失、缩短周期。过去几个月我们在DRAM上看到很多这样的情况，最新节点明显转向更多EUV层。

原文 (en)

this tool uh thanks to the higher productivity really allow customer to shift more multiatterning layer to single expose. So this basically allow a customer to reduce complexity, reduce uh yield loss, improve cycle time and we have seen that happening quite a bit uh in the last few months with DM where for the last nodes we really see a shift basically towards more EUV layer

Fouquet预计中国收入占比超25%并仍为增长做准备，但警告宏观、地缘政治和关税带来的不确定性上升。

看中国市场，我们预计中国收入占比将超过25%，这与我们进入2026年的订单储备一致。AI客户的基本面依然强劲，我们仍在为增长做准备。但正如上次所说，不确定性正在上升，主要源于宏观经济和地缘政治因素，当然也包括关税。

原文 (en)

When we look at China, we expect China revenue to be over 25% which is in line with our backlog going into 2026. uh there the fundamentals of our AI customer remain strong and we are still preparing for growth. However, as we discussed last time, the level of uncertainty is increasing mostly due to macroeconomic NGO politics consideration and that's include of course tariff

Fouquet表示AI是逻辑和存储增长的主要驱动力，客户在先进节点扩产并投资HBM和DDR。

人工智能目前是逻辑和存储两方面增长的主要驱动力。就逻辑而言，我们预计逻辑业务将较2024年增长，因为客户正在最先进节点上扩产。存储依然非常强劲，因为客户也在投资最新的HBM和DDR产品。

原文 (en)

artificial intelligence is currently the main driver for growth for both logic and memory. If we look at logic, we expect logic to grow compared to 2024 because our customer are adding capacity in the most advanced node. Uh memory remains very strong because they also our customer are investing in their latest HBM and DDR product.

Fouquet 重申 ASML 正朝 2030 年营收 440 亿至 600 亿欧元、毛利率 56%-60% 的目标稳步推进。

因此我们认为，我们正朝着 11 月资本市场日给出的 2030 年指引迈出很好的一步，即营收 440 亿至 600 亿欧元、毛利率 56% 至 60%。

原文 (en)

So we feel that we are making a very good step towards our guidance given at the capital market day November for 2030 with a range of revenue between 44 and 60 billion euro and a gross margin range between 56 and 60%.

Fouquet 称今明两年的 AI 相关需求已趋于确定，客户讨论显示 2025 和 2026 年均为增长年。

我们仍看到 AI 非常强劲。事实上，今年以及明年的部分需求已经确定下来，这非常令人鼓舞。与客户的讨论表明，2025 年和 2026 年都将是增长年。

原文 (en)

We still see a lot of strengths in AI. In fact, some of the demand for this year of course, but also for next year has solidified. So that's very encouraging. Now, if we had to that the discussion with our customer points to 2025 and 2026 to be both a growth year as we explained in previous discussion.

Fouquet 援引英特尔和三星的数据称 High-NA EUV 可大幅减少工艺步骤和周期时间，价值正在得到客户认可。

英特尔说明他们已在其设备上曝光超过 3 万片晶圆，并强调 High-NA 能帮助简化工艺，提到某一层的工艺步骤可从 40 步减至 10 步，这有助于周期、良率和工艺复杂度。三星在同一话题上也表示 High-NA 可将其周期缩短 60%。

原文 (en)

Intel was explaining that they had exposed more than 30,000 wafer on their tool. They also pointed very strongly to the fact that INA could help them simplify their process and they mentioned one layer where they could reduce basically the number of process step from 40 to 10 which of course helps with uh cycle time yield and process complexity. Samsung also on the same topic said that INA could reduce their cycle time in fact by 60%.

Fouquet 表示 NXE:3800 生产率提升推动 EUV 单次曝光取代多重图形，提高光刻强度，尤其是在 DRAM 领域。

生产率的提升使我们能够与客户一起降低技术成本，因此我们开始看到更多采用 EUV 单次曝光的机会，当然是以取代多重图形为代价。这对客户很好，因为有助于缩短周期、简化流程和提升良率；对 ASML 而言，这意味着光刻强度，尤其是 DRAM 的光刻强度持续增加。

原文 (en)

the progress on productivity basically allow us to execute with our customer on cost of technology and as a result we start to see the opportunity to have more EUV V single expose adoption uh of course at the expense of multiatterning. This is great for our customer because it helps with cycle time simplification yield and of course for SML this means that this little intensity especially for DM now is uh continuing to increase

Fouquet 警告关税带来新的 GDP 不确定性，并间接影响 ASML 的市场需求。

我想说的一点是，许多专家和企业都认同，这一局势正在制造新的不确定性，尤其是在 GDP 方面，因此在宏观层面并间接影响我们潜在的市场需求。这是我们必须非常密切关注的动态。

原文 (en)

I think the one thing I'd like to say which is being shared by many experts, many businesses is that this dynamic is creating a new uncertainty especially when it comes to GDP. So micro level and indirectly of course our potential market demand. So this is a dynamic ethic we have to watch very carefully.

Fouquet 预计逻辑业务因 2 纳米量产爬坡而强劲增长，存储业务则维持去年的强劲水平。

我们仍看到逻辑业务在增长，尤其是先进逻辑非常强劲。我们谈论 2 纳米已经很久了，现在它正在发生，客户正在量产爬坡其最先进的逻辑节点。至于存储，我们认为存储将保持强劲，与去年持平。

原文 (en)

So, we still see logic increasing. I think it's very strong especially because of advanced logic. We've been talking about two nanometer for a long time. This is now happening and customer are ramping their very advanced logic node. For memory, we think memory will remain strong same level as last year

Fouquet 表示 AI 仍是市场主要驱动力，需求强劲，2025 年营收将在 300 亿至 350 亿欧元之间，取决于客户扩产与不确定性。

AI 仍然是市场的驱动力，需求强劲并将保持强劲，我们看到两种情景。如果 AI 需求持续强劲且客户能够扩充产能，我们就有机会达到指引上限 350 亿欧元；另一方面，部分客户仍存在不确定性，也可能使我们落在指引下限 300 亿欧元。

原文 (en)

Uh AI is still the driver of the market, the demand is strong, it remains strong and we see two scenario. If the demand on AI continue to be strong and our customer are capable to add capacity so we have basically opportunity for an upside looking at the upper range of our guidance the 35 billion euro on the other hand we still see some uncertainty with some of our customer that could also you know take us to the lower end of the guidance the 30 billion euro

Fouquet 重申光刻层数将持续增加，2030 年营收目标 440-600 亿欧元、毛利率 56%-60%。

我们预计所有应用的光刻层数将持续增加。换算成数字，与 11 月提出的观点一致，2030 年总营收将在 440 亿至 600 亿欧元之间，毛利率在 56% 至 60% 之间。

原文 (en)

we expect the number of lithography layers to continue to increase on all application and to translate that into numbers I think again very consistent to the view we presented in November total revenue for 2030 will be between 44 and 60 billion Euro our gross margin will be somewhere between 56 and 60%

Fouquet 认为 AI 将为半导体行业带来更多机会，并推动更先进技术以应对成本与功耗挑战。

我们过去说半导体无处不在，从去年 11 月起我们开始说 AI 无处不在。我们确信 AI 将给半导体行业带来更多机会，这是第一点；第二点是 AI 将推动更先进的技术，以应对成本和功耗方面的挑战。

原文 (en)

we used to talk about semiconductor everywhere I think since November we start to talk about AI everywhere and we truly believe that AI is going to bring even more opportunity to this semiconductor industry that's the first thing uh the second thing is that AI is going to drive more advanced technology to address some of the challenges on cost on power consumption

Fouquet 表示 NXE:3800 低 NA EUV 今年将具备量产支持能力，并成为低 NA 出货主力。

我们正与客户继续完善该平台，使设备今年能够真正支持大规模量产。该设备今年也将成为低数值孔径 EUV 出货的主体。

原文 (en)

we are continuing to mature basically the platform with our customer so that the tool can be ready this year to really support high volume manufacturing as you know as well on this tool this will become the majority of for shipment when it comes to Lowa this year

Fouquet 表示 High-NA EUV 获得首批客户验收且反馈积极，目前讨论焦点是导入量产的时机与规模。

我们获得了前两台的客户验收，经过多年研发这是一个重大里程碑。DRAM 和逻辑客户对成像性能的反馈一直非常积极，他们很满意，现在关键讨论是何时、如何以及以多大量将该设备导入量产。

原文 (en)

we got the first two customer acceptance which you know after so many years of development has been a major Milestone the feedback on the Imaging performance from our dram customer logic customer continue to be very very positive they like what they see and the key discussion Now is really when how and in which volume I would say to insert this tool into volume manufacturing

Fouquet 表示 2025 年中国营收占比将从积压订单推动的高位回落至 2023 年前的正常水平。

我们仍在消化 2022 年产能不足以满足整个市场时形成的积压订单。2025 年中国在我们业务中的占比将回到更正常的水平，我认为会再次看到 2023 年之前人们熟悉的数字。

原文 (en)

we are still working on some backlog created in 2022 when our capacity was not big enough to fulfill the O Market 2025 will be a year where we see China going back to a more normal ratio in our business so I think we're going to see again numbers people used to see before 23

Fouquet 预计 2025 年存储需求保持强劲，逻辑芯片将为满足 AI 需求而增长。

2024 年存储业务强劲，我们预计存储将继续保持强劲，并预计逻辑业务将增长以满足 AI 需求。

原文 (en)

2024 was strong for memory and we remain uh we expect memory to remain strong we expect logic to grow to basically fulfill the demand of AI

Fouquet 解释 2025 年 300-350 亿欧元营收区间取决于 AI 需求强弱与非 AI 客户的不确定性。

如果需求保持强劲、客户能够建设产能，我们看到营收有机会接近区间上沿；另一方面，其他客户仍有相当大的不确定性，这也是区间下沿的依据。

原文 (en)

if the demand remains strong and our customer are capable to build some capacity we see the opportunity toward the highest part of the range on the other hand there's still quite some uncertainty on the other customer and this also justify the lowest part of the range

Fouquet 表示 AI 是明确驱动力，正在造成市场分化，部分客户强烈受益而其他客户受益较少。

AI 是明确的驱动力，我们去年就开始看到这一点。事实上，目前我们确实相信 AI 正在给市场带来转变，我们看到一些客户从中强烈受益，而其他客户受益可能少一些。

原文 (en)

AI is the clear driver I think we started to see that last year in fact at this point we really believe that AI is creating a shift uh in the market and we have seen customer benefiting for it very strongly uh other maybe a bit less so

Fouquet 表示，客户对生产率升级的强劲需求推动 ASML 服务与现场升级业务超出指引，并使毛利率好于预期。

首席执行官 Christophe Fouquet 表示，对生产率升级的强劲需求使该业务超出指引，并帮助毛利率超出预期。

原文 (en)

Chief Executive Christophe Fouquet said strong demand for productivity upgrades lifted that business above guidance and helped gross margin beat expectations.

Fouquet表示，先进逻辑和存储节点的供应短缺在规模和持续时间上都在扩大。

先进逻辑和存储节点的供应短缺在规模和时间跨度上都在持续扩大。

原文 (en)

Supply shortages across advanced logic and memory nodes continue to increase in size and in time horizon.

Fouquet认为高产能DUV设备升级既为ASML带来价值、利润率和定价机会，也有助于缓解产能紧张。

所以这既是价值、利润率和定价方面的机会，当然在产能方面也非常有帮助。

原文 (en)

So this is both an opportunity on value, margin, pricing, it is also, of course, very helpful when it comes to capacity.

Fouquet表示客户洁净室准备情况不是影响ASML需求的主要因素，公司在分配稀缺设备前会核查客户厂房是否就绪。

我们不认为客户的洁净室会成为影响我们需求的主要因素。

原文 (en)

We do not see our customer clean room being a major factor on our demand.

Fouquet 在致员工的备忘录中表示，基于员工调查的新“工作体验指数”将直接影响包括管理委员会在内的高管薪酬。

未来几年，它将直接影响包括管理委员会在内的高级领导者的薪酬。

原文 (en)

In the coming years, it will directly influence the remuneration of senior leaders, including the Board of Management,

Fouquet 表示，随着客户洽谈 2029 和 2030 年的订单，ASML 现有产能规划不足以满足需求。

CEO Christophe Fouquet 当时表示，现有的产能规划不足以满足需求。

原文 (en)

CEO Christophe Fouquet said at the time that existing capacity plans would not be sufficient to meet demand.

Fouquet在4月向股东表示，ASML将不惜一切手段避免成为芯片行业的产能瓶颈。

不惜一切可能的手段

原文 (en)

by all possible means

Fouquet 称 ASML 计划的产能扩张仍不足以满足客户需求。

首席执行官 Christophe Fouquet 表示，计划中的产能扩张不足以满足需求。

原文 (en)

Chief executive Christophe Fouquet said the planned capacity increases would not be enough to meet demand.

Fouquet 称客户预测主要由对 AI 投资规模和持续时间的预期驱动。

首席执行官 Christophe Fouquet 表示，客户的预测主要受对人工智能投资规模和持续时间预期的推动。

原文 (en)

Chief Executive Christophe Fouquet said customer forecasts are being driven mainly by expectations for the size and duration of artificial intelligence investment.

Fouquet表示领先客户基于长期承诺判断，需求至少到2028年都将超过供给。

我们的领先高产量客户因获得越来越多的长期承诺而拥有很好的可见度。这种更长的可见度使他们得出结论：其产品需求至少到2028年都将超过供给。

原文 (en)

Our leading edge high volume customers are sharing very good visibility as a result of the increasing number of long-term commitments they are securing with their customers. This extended visibility has led them to conclude that demand for their product will outpace supply through at least 2028.

Fouquet认为12英寸光罩倡议表明客户预期High-NA应用将不断扩大。

台积电推动12英寸关键光罩很有意思，它首先表明客户心目中High-NA的使用会越来越多，否则没人会费心去做High-NA的12英寸光罩。

原文 (en)

I think the announcement, and the drive of TSMC first on the 12-inch critical mask, is very interesting there. Because the first signal it gives is that, in the mind of the customer, there will be more and more use of High-NA. Because if it was not the case, no one will really bother to go to 12-inch mask on High-NA.