The real problem with this theory is that EUV isn't a product with a capturable bottleneck. It's more like a standing wave of institutional knowledge distributed across organizations that have been co-developing at picometer tolerances for 30 years. TRUMPF's leadership described the arrangement as a "virtually merged company" with open books across all three firms. That kind of integration knowledge doesn't transfer via acquisition. China has been throwing enormous resources at this with access to published research and former ASML engineers, and their prototype still isn’t expected to produce working chips until 2028-2030. Saying the US could grab Cymer and start producing EUV machines is like seizing a transmission plant and calling yourself a car manufacturer.
