With their $100m of funding they could afford about 1/4th of one of ASMLs latest-gen machines. Matching that when all you have is minuscule fraction of ASMLs R

With their $100m of funding they could afford about 1/4th of one of ASMLs latest-gen machines. Matching that when all you have is minuscule fraction of ASMLs R&D budget (~tens of billions for their latest process) would be... impressive. There's a more likely explanation for their claims however.