Chapter 463： There must be a cause
Uh, not long after William Chen and Ivanta got married at the time, he saw this notepad of Paris, knew that she was in it, and wrote down the "feelings" of attending his and Ivanta's wedding. There are many entries, planning her future wedding with William Chen.
But what he didn't expect was that, after so long, up to now, this eldest lady still keeps this notepad, which is really a headache...
No way, the so-called cause must have effect, this fruit, he still has to eat.
Fortunately, after all these years, Paris has grown a lot more mature than before, and has also dispelled a lot of the eldest lady's temper, so she also accepted Chen William's idea of not wanting to make the scale too large, and invited her. The guests were all close friends of the two of them, and they did not entertain the guests.
But there must be ceremonies and specifications, and Chen William will definitely give her, so that she can have an unforgettable memory.
When William Chen and Paris in Atlanta negotiated some details of the wedding with the team they hired, Felipe Zeit, CEO of Eurasia Semiconductor Group, will also discuss the progress with the Dutch company ASML. , communicated with William Chen in a timely manner.
In fact, after the "customer investment plan" proposed by ASML this time, the "big three" of Intel, Samsung Electronics and TSMC at this time were not positive.
There are many reasons. For example, the market value of ASML at this time is only about 20 billion US dollars, but its "customer investment plan" this time needs 5 billion euros, which is equivalent to about 6.5 billion US dollars, and then takes out 25% of the shares, It is equivalent to its pre-money valuation of about $19.5 billion, which is slightly cheaper than the market value.
In the previous life of William Chen, facing the financing plan initiated by ASML, Intel was the first to respond. After research, they agreed to subscribe for 15% of the shares, but Intel's 3 billion euro investment , 10% of which is investment in 18-inch wafer lithography machine, and only 5% is investment in EUV.
After that, TSMC subscribed for 5% of the shares, and after repeated hesitation, Samsung Electronics only subscribed for 3% of the shares, giving up the 2% shares that should have been bought by them.
Therefore, at that time, the 25% shares of ASML's customer investment plan to be financed were only subscribed by the "Big Three" for 23% of the shares.
That's it, these investments are conditional and are paid in instalments.
The reason is that their financing is used to conduct research on 18-inch lithography machines and EUV lithography machines, especially EUV lithography machines, which are too difficult and generally not optimistic.
In fact, Nikon and Hitachi started developing EUV in 1991, and NTT even started in the 80s. Countless top institutions have been paving stones, even stepping stones, over three decades.
So far, ASML has only released an EUV prototype with many problems and obvious defects that cannot be used in actual production. No one knows when they will be able to successfully develop it, that is, if the research and development is successful, will there be more suitable The different path technology of EUV lithography machine is replaced.
Therefore, at that time, TSMC's 5% of ASML's shares were sold immediately after the two-and-a-half-year lock-up period. At that time, AWSL's EUV lithography machine had not been successfully developed.
Due to the subsequent difficulty in producing 18-inch wafers, Intel's investment interest was also dull. Subsequently, it reduced its holdings by half every two to three years, and finally sold almost all of its 15% shares in ASML.
Samsung Electronics was the least optimistic about EUV at the time, so the investment was the least subscribed at the latest.
They halved their holdings in 2016, leaving 1.5%. But what's interesting is that before William Chen's rebirth, Samsung Electronics' 1.5% is very likely to still hold, and it is the only investment that enjoys a dozen times of ASML's share price.
Yes, in the end ASML's EUV lithography machine research was successful, and it was the only company that could manufacture such a lithography machine. Before Chen William's rebirth, the company's market value once exceeded 350 billion US dollars, an increase of ten years from now. multiple times.
Therefore, knowing this, Chen William will definitely seize this opportunity to invest in ASML.
It's not just for the ten-fold increase in the company's market value. Because of the importance of lithography machines in the chip field, being able to invest in ASML and get a certain share will greatly enhance his voice in this industry.
Therefore, after the Eurasian Semiconductor Group took the initiative to participate in this financing of ASML, compared with the other three giants, their conditions are the most relaxed and their attitudes are the most positive. , and no more restrictions.
This is in great contrast to Intel and the others who are hesitant at this time. This also makes ASML very excited. Soon, under the authorization of Chen William, the CEO of Eurasia Semiconductor Group, Felipe Ze In particular, he signed an agreement with ASML to inject 5 billion euros and obtain 25% of ASML's shares, becoming its major shareholder.
In this regard, the Big Three, including Intel, not only did not strive for too much, but even felt relieved.
After all, they themselves are not optimistic about ASML's plan, because the company's strength in the field of lithography machines at this time, if they really ask for investment, they will also follow.
But now is the downturn of the entire semiconductor industry. It is really reluctant for these companies to invest so much money in ASML. It is better to take this opportunity to expand and strengthen their business.
It’s no wonder these companies are short-sighted. Originally, in the field of technology, the research and development of new technologies is a very risky thing. Just like ASML, two projects that invested heavily at this time, the 18-inch lithography machine died later. Now, the research and development on the EUV lithography machine can also be said to be a big gamble, but they finally won.
And these giants, if they can not bet, naturally they will not be willing to make big bets. Anyway, for them, they are already in the upper reaches of the industry. In the end, no matter which technology wins, it’s better to purchase equipment if it’s a big deal. There is no need to take too much risk. risk.
That is to say, Chen William knows the final result, so he will drop his chips in this sure-win bet.
It is understandable why Warren Buffett never invests in technology companies?
While tech companies appear to be more growth-oriented, they are also more risky. It is inevitable that the IT giants in the 1980s continue to be brilliant. How many of them are there?
The traditional enterprises are different, stable, but not easy to be eliminated.
If technology companies want to stay ahead, they often need to invest huge amounts of money in research and development, and technology research and development is often a mysterious and uncertain thing.
Maybe you invest tens of billions of dollars in research and development, but there is no result, or you are researching in the wrong direction.
And another company, after you explore the way, invests less money in the right direction, and instead succeeds, who are you going to reason with?
And it can often be found that many companies that took the lead in developing cross-generational results did not eventually become industry leaders through the tuyere...
It is precisely for these reasons that investing in technology companies has also become a very risky thing. Anyway, no matter how technology develops, people always drink Coke, and always wear clothes. The industries such as food, clothing, housing, and transportation are more subject to the pursuit of stable profits. favored by investors.
American Road to Fame https://
But what he didn't expect was that, after so long, up to now, this eldest lady still keeps this notepad, which is really a headache...
No way, the so-called cause must have effect, this fruit, he still has to eat.
Fortunately, after all these years, Paris has grown a lot more mature than before, and has also dispelled a lot of the eldest lady's temper, so she also accepted Chen William's idea of not wanting to make the scale too large, and invited her. The guests were all close friends of the two of them, and they did not entertain the guests.
But there must be ceremonies and specifications, and Chen William will definitely give her, so that she can have an unforgettable memory.
When William Chen and Paris in Atlanta negotiated some details of the wedding with the team they hired, Felipe Zeit, CEO of Eurasia Semiconductor Group, will also discuss the progress with the Dutch company ASML. , communicated with William Chen in a timely manner.
In fact, after the "customer investment plan" proposed by ASML this time, the "big three" of Intel, Samsung Electronics and TSMC at this time were not positive.
There are many reasons. For example, the market value of ASML at this time is only about 20 billion US dollars, but its "customer investment plan" this time needs 5 billion euros, which is equivalent to about 6.5 billion US dollars, and then takes out 25% of the shares, It is equivalent to its pre-money valuation of about $19.5 billion, which is slightly cheaper than the market value.
In the previous life of William Chen, facing the financing plan initiated by ASML, Intel was the first to respond. After research, they agreed to subscribe for 15% of the shares, but Intel's 3 billion euro investment , 10% of which is investment in 18-inch wafer lithography machine, and only 5% is investment in EUV.
After that, TSMC subscribed for 5% of the shares, and after repeated hesitation, Samsung Electronics only subscribed for 3% of the shares, giving up the 2% shares that should have been bought by them.
Therefore, at that time, the 25% shares of ASML's customer investment plan to be financed were only subscribed by the "Big Three" for 23% of the shares.
That's it, these investments are conditional and are paid in instalments.
The reason is that their financing is used to conduct research on 18-inch lithography machines and EUV lithography machines, especially EUV lithography machines, which are too difficult and generally not optimistic.
In fact, Nikon and Hitachi started developing EUV in 1991, and NTT even started in the 80s. Countless top institutions have been paving stones, even stepping stones, over three decades.
So far, ASML has only released an EUV prototype with many problems and obvious defects that cannot be used in actual production. No one knows when they will be able to successfully develop it, that is, if the research and development is successful, will there be more suitable The different path technology of EUV lithography machine is replaced.
Therefore, at that time, TSMC's 5% of ASML's shares were sold immediately after the two-and-a-half-year lock-up period. At that time, AWSL's EUV lithography machine had not been successfully developed.
Due to the subsequent difficulty in producing 18-inch wafers, Intel's investment interest was also dull. Subsequently, it reduced its holdings by half every two to three years, and finally sold almost all of its 15% shares in ASML.
Samsung Electronics was the least optimistic about EUV at the time, so the investment was the least subscribed at the latest.
They halved their holdings in 2016, leaving 1.5%. But what's interesting is that before William Chen's rebirth, Samsung Electronics' 1.5% is very likely to still hold, and it is the only investment that enjoys a dozen times of ASML's share price.
Yes, in the end ASML's EUV lithography machine research was successful, and it was the only company that could manufacture such a lithography machine. Before Chen William's rebirth, the company's market value once exceeded 350 billion US dollars, an increase of ten years from now. multiple times.
Therefore, knowing this, Chen William will definitely seize this opportunity to invest in ASML.
It's not just for the ten-fold increase in the company's market value. Because of the importance of lithography machines in the chip field, being able to invest in ASML and get a certain share will greatly enhance his voice in this industry.
Therefore, after the Eurasian Semiconductor Group took the initiative to participate in this financing of ASML, compared with the other three giants, their conditions are the most relaxed and their attitudes are the most positive. , and no more restrictions.
This is in great contrast to Intel and the others who are hesitant at this time. This also makes ASML very excited. Soon, under the authorization of Chen William, the CEO of Eurasia Semiconductor Group, Felipe Ze In particular, he signed an agreement with ASML to inject 5 billion euros and obtain 25% of ASML's shares, becoming its major shareholder.
In this regard, the Big Three, including Intel, not only did not strive for too much, but even felt relieved.
After all, they themselves are not optimistic about ASML's plan, because the company's strength in the field of lithography machines at this time, if they really ask for investment, they will also follow.
But now is the downturn of the entire semiconductor industry. It is really reluctant for these companies to invest so much money in ASML. It is better to take this opportunity to expand and strengthen their business.
It’s no wonder these companies are short-sighted. Originally, in the field of technology, the research and development of new technologies is a very risky thing. Just like ASML, two projects that invested heavily at this time, the 18-inch lithography machine died later. Now, the research and development on the EUV lithography machine can also be said to be a big gamble, but they finally won.
And these giants, if they can not bet, naturally they will not be willing to make big bets. Anyway, for them, they are already in the upper reaches of the industry. In the end, no matter which technology wins, it’s better to purchase equipment if it’s a big deal. There is no need to take too much risk. risk.
That is to say, Chen William knows the final result, so he will drop his chips in this sure-win bet.
It is understandable why Warren Buffett never invests in technology companies?
While tech companies appear to be more growth-oriented, they are also more risky. It is inevitable that the IT giants in the 1980s continue to be brilliant. How many of them are there?
The traditional enterprises are different, stable, but not easy to be eliminated.
If technology companies want to stay ahead, they often need to invest huge amounts of money in research and development, and technology research and development is often a mysterious and uncertain thing.
Maybe you invest tens of billions of dollars in research and development, but there is no result, or you are researching in the wrong direction.
And another company, after you explore the way, invests less money in the right direction, and instead succeeds, who are you going to reason with?
And it can often be found that many companies that took the lead in developing cross-generational results did not eventually become industry leaders through the tuyere...
It is precisely for these reasons that investing in technology companies has also become a very risky thing. Anyway, no matter how technology develops, people always drink Coke, and always wear clothes. The industries such as food, clothing, housing, and transportation are more subject to the pursuit of stable profits. favored by investors.
American Road to Fame https://
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