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The Print Shops — Wafer Fabrication · AI Chain

ASML

ASML Holding
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EUV lithography — the absolute monopoly

What they do

ASML is the Dutch company that makes the $400 million machines required to print modern chips . There is exactly one supplier on Earth. Every Rubin GPU, every HBM4 die, every advanced AI chip passes through an ASML machine. The original 'narrow place' of the entire AI thesis.