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The Secretive US Startup Taking on ASML and TSMC

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November 17, 2025

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A secretive American startup says it has chipmaking technology to rival ASML and take on TSMC. Bloomberg’s Ed Ludlow breaks the story on Substrate's particle accelerator-powered lithography machine and plans for an American foundry. The company raised $100 million at a valuation above $1 billion.

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TSMC Bloombergs Ed LudlowYouTube WatchCaroline HydeEd LudlowSilicon ValleyFollow Caroline HydeBloomberg Business Connect

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