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ASML Sold Out to 2027: High NA Allocation, CoWoS & NOR Flash Crunch
Audio is available on Spreaker — see link below.
ASML's High NA EUV machines are booked through 2027, and the race for 2028 slots is already redrawing the foundry power rankings. Today's briefing covers the allocation crisis, TSMC's 2nm expansion, CoWoS packaging bottlenecks, and a surprise NOR flash shortage hitting AI servers.
Audio is available on Spreaker — see link below.
ASML is sold out through twenty twenty-seven, and the scramble for twenty twenty-eight delivery slots is already reshaping the foundry power rankings. That's the clearest signal in the semiconductor industry right now.
The adoption timeline now looks like this. TSMC has committed to High NA in twenty thirty.
There's a second bottleneck that doesn't get the same attention but matters just as much for AI hardware output. Advanced packaging.
One constraint that's emerged separately from logic chips is NOR flash memory. AI servers consume three to five times more NOR flash than standard servers.
The key implication across all of this is that AI infrastructure constraints are no longer abstract. They're specific, they're dated, and they're already being priced in.
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