[andy_ppp]

I did some research and you are right there is some interesting stuff being developed but to say the whole stack will be available in the US soon - even 3-5 years is ridiculous. ASML is still going to be producing the best lithography machines in said timeframe I suspect.

It's also extremely hard to pick winners which is why the Chinese just fund everyone and let the winners cannibalise their less successful competitors. I'd be more confident of Chinese semiconductors being ahead over the medium term than US without ASML.

[wyck]

It's become a national issue, I think China will be at the forefront with the USA, and ASML/Europe will certainly stay in the mix. I'm no expert, but Russia is lagging in this industry, this has a very direct effect on their capabilities moving forward. Have a look at https://substrate.com/