Christophe Fouquet

Fouquet指出低NA EUV出现新客户（尤其是DRAM），印证EUV应用扩大。

事实上我们继续看到低NA EUV出现新客户，尤其是DRAM领域。

原文 (en)

We continue to see, in fact, new customer on low-NA EUV, especially when it comes to DRAM. I would say these go a bit beyond the T customer.

Fouquet 表示 AI 建设依然强劲，先进逻辑与存储的供应短缺在规模和时间上持续扩大。

我们看到 AI 建设的步伐依然非常强劲。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继续扩大。

原文 (en)

we see that the pace of the AI build-out continues to be very robust. Supply shortages across advanced logic and memory nodes continue to increase in size and in time horizon.

Fouquet 称主要客户预计需求至少到 2028 年超过供给，并正加快 2028 年之后的扩产计划。

这种更长的能见度让客户得出结论：其产品需求至少到 2028 年都将超过供给。因此客户正在加快产能建设计划，并为 2028 年之后的进一步扩张做准备。

原文 (en)

This extended visibility has led them to conclude that demand for their product will outpace supply through at least 2028. As a result, customers are accelerating capacity build-out plans and preparing for further expansion beyond 2028

Fouquet 表示 2028 年订单增多，客户还希望下 2029 至 2030 年的订单。

我们越来越多地收到 2028 年的订单，客户也表示有意下达 2029 年甚至 2030 年的订单。

原文 (en)

We are increasingly receiving orders for 2028, and customers are also expressing interest in placing orders for 2029 and even 2030.

Fouquet 表示蔡司不是 ASML 扩产的瓶颈，即便 2028 年增幅超过 30%。

我们目前不认为蔡司会成为我们所讨论的扩产的瓶颈，即使超过我们提到的 2028 年 30% 的幅度。

原文 (en)

We do not see Zeiss today as a bottleneck for the capacity expansion we are discussing, even beyond the 30% we mentioned for 2028.

Fouquet 称需求已通过客户的晶圆厂计划验证，是真实的，并非抢购造成的虚高。

就我们所说的需求增长而言，我们能够通过客户分享的晶圆厂建设、释放等更详细计划来验证。我们所指的需求是我们认为真实的，而非因客户的任何潜在抢购行为而虚增。

原文 (en)

When it comes to the demand we are referring to, the increased demand we are referring to, I think we are very much capable to validate that demand with some more detailed plan our customers are sharing with us in term of fab construction, release, et cetera. I think that when we talk about demand, when we refer to demand in those discussion, we really refer to demand we believe is real and not inflated by any potential buying behavior from our customer.

Fouquet 预计随着客户验证并扩大使用层数，High-NA 设备数量将逐年增长。

你会看到客户每年都会需要更多设备，因为他们在制造中验证了喜欢 High-NA，并且很可能会规划更多层采用。设备数量肯定会逐年增长。

原文 (en)

You are going to see that every year our customer are going to need more tool, as they validate in manufacturing that they like High-NA, and that most probably, they plan over time, more layers. But the number will grow for sure year after year.

Fouquet 称价值与定价随吞吐量提升，因此更快的浸没式 DUV 也将像 EUV 一样获取价值。

价格和价值基本上随产能（每小时晶圆数）而扩展。我认为 EUV 适用的规律同样适用于 DUV。

原文 (en)

The price, the value scale basically with the throughput. I think what is true for EUV will be true also for Deep UV.

Fouquet 表示客户接受 AI 带动生态价值转移，但 ASML 不打算每年涨价。

客户明确接受，整个生态中的价值可能正在转移，这在一定程度上当然是由 AI 触发的。这是我们以前从未做过的，我们不想每年都这样做，因为那不是目的。

原文 (en)

there was a clear acceptance that maybe the overall value in the ecosystem is shifting. That's triggered by, of course, AI to some extent. Something we never did before, we don't want to do that every year because that's not the purpose.

Fouquet 认为只要保持市场准入，中国光刻机出现重大竞争的可能性仍然很低。

只要我们有良好的市场准入，只要客户能信任与我们合作，我认为中国出现重大竞争的可能性仍然很低。就事实而言，今年与一年前甚至五年前没有不同，进展并不显著。

原文 (en)

as long as we have a good market access, as long as our customer can trust they can work with us, I think that the likelihood of a major competition in China is still pretty low. If you stick to fact, I think the fact this year are not different from the fact a year ago or even five years ago. So I think that the progress is not very strong.

Fouquet 表示 AI 芯片需要存储和逻辑，目前 DRAM 扩产更为激进。

我认为生产 AI 芯片需要存储和逻辑两者。目前 DRAM 在产能建设上更激进一些，但我们与两类客户都有讨论。

原文 (en)

I think you need both memory and logic to get some AI chips. I think today, DRAM is a bit more aggressive on the buildup of those capacity. But yeah, we have discussion with both.

Fouquet 表示 ASML 现有产能扩张计划不足以满足客户需求，客户已在咨询 2029 至 2030 年的订单。

首席执行官 Christophe Fouquet 同时表示，现有的产能扩张计划不足以满足需求。

原文 (en)

Chief executive Christophe Fouquet said at the same time that existing capacity expansion plans would not be sufficient to meet demand.

Fouquet 称 ASML 此前宣布的产能扩张不足以满足客户需求，公司正在评估进一步扩产。

ASML 首席执行官 Christophe Fouquet 表示，此前公布的产能扩张不足以满足需求，因此公司正在研究进一步扩产的方案。

原文 (en)

Chief Executive Christophe Fouquet said the capacity increases previously communicated would not be enough, and that ASML is therefore examining options for further expansion.

ASML CEO Fouquet 淡化中国EUV竞争者即将出现的说法，称这类预测已持续25年。

过去25年我们一直在讨论中国会不会拥有能与我们竞争的设备。每隔一年就会传出这类消息，说它就要来了。

原文 (en)

We have been having this discussion about China having a tool to compete with us for the last 25 years. Every other year, we get news that this is coming.

Fouquet 表示从事实看，中国今年的EUV进展与往年无异，并不显著。

如果只看事实，今年与一年前甚至五年前并无不同。我认为进展并不十分显著。

原文 (en)

If you stick to the facts, this year is no different from a year ago or even five years ago. I do not think the progress has been very strong.