Rabbit hole diving on the makers of the machines that make chips: https://semiengineering.com/entities/asml/ https://semiengineering.com/entities/asml/ https:

Rabbit hole diving on the makers of the machines that make chips: https://semiengineering.com/entities/asml/ https://semiengineering.com/entities/asml/ https://en.wikipedia.org/wiki/ASM_International https://en.wikipedia.org/wiki/ASM_International https://www.asml.com/en/company/about-asml/history https://www.asml.com/en/company/about-asml/history From the last one, ca. 1988 ASML was failing badly: "But in a market of fierce competition and many suppliers, the small unknown company from the Netherlands couldn’t catch a break. ASML had few customers and was unable to stand on its own two feet. Making matters worse, shareholder ASMI was unable to maintain the high levels of investment with little return and decided to withdraw, while the global electronics industry took a turn for the worse, and Philips announced a vast cost-cutting program. The life of our young cash-devouring lithography company hung in the balance. Guided by a strong belief in the ongoing R&D and in desperate need of funds, ASML executives reached out to Philips board member Henk Bodt, who persuaded his colleagues to lend a final helping hand." (I understand that nowadays you need their equipment for new fabs.)