Name: Thiel-backed chip startup takes aim at ASMLs dominance
Uploaded: 2025-10-28T17:13:29.251Z
Duration: 1 min 5 s
Description: Substrate, looks to challenge ASML and Taiwan Semiconductor Manufacturing Co. after developing a new chipmaking machine that uses particle acceleration to handle the crucial process of etching microscopic circuitry onto silicon wafers.

Substrate, looks to challenge ASML and Taiwan Semiconductor Manufacturing Co. after developing a new chipmaking machine that uses particle acceleration to handle the crucial process of etching microscopic circuitry onto silicon wafers.

Substrate, a San Francisco startup supported by Peter Thiel, has unveiled a new lithography machine that uses a particle accelerator as its light source, differing from ASML's extreme ultraviolet light technology. The company has raised approximately $100 million at a $1 billion valuation and claims its technology can produce wafer patterns as sharp or sharper than current industry standards.

Unlike traditional equipment suppliers, Substrate plans to manufacture chips itself, aiming to become a leading American foundry similar to TSMC. This approach marks a significant departure from the business models of established players, and industry observers note that Substrate's ambitions represent a considerable challenge.

Thiel-backed chip startup takes aim at ASML's dominance

So this is a company called Substrate. It's based in San Francisco. It has been in stealth for a number of years and out of the gate has raised about 100 million dollars at a one billion dollar valuation. It has a new form of lithography machine where the light source is a particle accelerator. By comparison as a male's machine is extreme ultraviolet light. But what substrate was telling me is that every component of their lithography machine is done in-house by them. They have not worked in any other tech companies. The images that you're showing are the wafer wafer patterns and basically read the story. But what they're demonstrating is that the scale of those features on your screen are as good or better sharp or as sharp or sharper than what SML is high in a lithography machine is able to achieve. But again the business plan is very different for substrate. They want to not sell these machines to one of the chip manufacturers. They want to be a chip manufacturer be the TSMC of America and American foundry. And that is a long shot to put it mildly.

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