The Leaky Shed That Now Controls the World's Chips

In 1984, ASML started in a leaky shed next to a Philips office in Eindhoven. Four years later it almost went under. Today it is the only company in the world that sells EUV lithography machines — the tools used to print the most advanced chips on Earth. This is the story of how it happened: the 1988 near-death moment, the TWINSCAN and immersion breakthroughs that overtook Nikon and Canon, the 20-year EUV bet, and why Intel, TSMC and Samsung paid billions to own a piece of their own supplier. Chapters 0:00 The machine that needs three 747s 0:46 What ASML actually does 1:29 The leaky shed (1984) 2:43 1988: the year it almost died 3:36 PAS 5500, the IPO and overtaking Japan 4:50 The EUV bet everyone else walked away from 5:59 When your customers buy a piece of you 7:13 Inside the most complicated machine ever sold 8:39 From supplier to geopolitical chokepoint 9:32 Three lessons from the shed 10:18 Subscribe for the next file Sources ASML history: https://www.asml.com/en/company/about-asml... ASML founding story: https://www.asml.com/en/company/stories/20... ASML 20-year history (chiphistory.org): https://www.chiphistory.org/exhibits/ex_se... EE Times, ASML surpasses Nikon (2002): https://www.eetimes.com/asml-surpasses-nik... NYT via Seattle Times, "most complicated machine": https://www.seattletimes.com/business/the-... ASML, Light & lasers: https://www.asml.com/en/technology/lithogr... ZEISS SMT, EUV lithography: https://www.zeiss.com/semiconductor-manufa... ASML Customer Co-Investment Program (2012): https://www.asml.com/en/news/press-release... ASML & ZEISS (2016): https://www.asml.com/en/news/press-release... Intel High-NA EUV: https://newsroom.intel.com/de/intel-foundr... Reuters, High-NA EUV price: https://www.reuters.com/technology/semicon... Reuters, export controls: https://www.reuters.com/technology/dutch-g... ASML FY2025 results: https://investor.asml.com/news-releases/ne... ASML 2025 Annual Report: https://investor.asml.com/annual-reports/2025 Full source list with claim-by-claim mapping available on request. Narration uses an AI-generated voice (ElevenLabs); machine and factory visuals are illustrations, not real footage. This video is business history, not investment advice. Not affiliated with ASML. Narration: AI-generated voice (ElevenLabs, voice "Brian"). Visuals: AI-generated stylised illustrations (not real photos of ASML, its sites or people) and original charts. Stock photos: Nic Wood and Jakub Pabis via Pexels (Pexels License). Music: original ambient track made for Empire Files. Full source list above.