经济学人下载:新一代的半导体由Intel与ASML共同出资

[00:00.01]Business.
商业。

[00:02.54]Semiconductors.
半导体行业。

[00:04.42]Chipping in.
共同出资。

[00:06.27]A deal to keep Moore's law alive.
Intel与ASML的交易使摩尔定律继续生效。

[00:10.15]THE arrival of a new generation of semiconductors has come a little closer.
距离新一代的半导体的诞生时间更近了。

[00:15.00]On July 9th ASML, a Dutch company that dominates the market for the lithographic equipment that etches circuits onto silicon, struck a deal with Intel, the world's largest chipmaker.
7月9日，一家名为ASML（Advanced Semiconductor Material Lithography，中文名称：阿斯麦）的荷兰公司与全球最大的芯片制造商Intel达成了一项交易。ASML在光刻设备（其作用为在硅片上蚀刻电路）市场上占据主导地位。

[00:26.20]Intel has agreed to pay about €2.5 billion ($3.1 billion) for 15% of ASML.
在这项交易中，Intel同意向ASML支付约25亿欧元（31亿美元）购买后者15%的股份。

[00:34.25]It will provide €829m for ASML's research-and-development efforts and will buy the resulting tools, due in a few years.
在接下来的几年，Intel将会提供8.29亿欧元支持ASML研发活动并购买研究成果。

[00:45.32]ASML has also been talking to its two other biggest customers, Samsung and Taiwan Semiconductor Manufacturing Corporation. It is willing to sell 25% of itself in all.
此外，ASML同时也在和三星（Samsung）以及台积电（Taiwan Semiconductor Manufacturing Corporation）这两个大客户开展谈判。ASML愿意出售总共25%的股份。

[00:57.50]Of Intel's R&D money, €553m will go on technology to make chips on silicon wafers 450mm in diameter.
Intel研发资金中，5.53亿欧元会投入到450毫米晶圆技术开发上。

[01:09.42]Twice as many chips could be cut from these as from today's biggest, which are 300mm across.
450毫米晶圆的芯片切割数为现时300毫米晶圆的两倍。

[01:16.50]The rest of the cash is for extreme ultraviolet (EUV) technology, which the industry hopes will push the width of circuits below today's frontier of 20 nanometres (billionths of a metre).
余下的资金会投入到极紫外线光刻（EUV）技术开发上，芯片行业希望缩小电路宽度，突破现在20纳米的极限（1纳米等于十亿分之一米）。

[01:30.03]This will enable more circuitry to be packed onto smaller chips-and allow the life of Moore's law, which says that the number of transistors on a chip doubles every 18 months or so, to be extended yet again.
这项技术能够使更小的芯片集成更多的电路——使得摩尔定律继续生效（摩尔定律：集成电路上可容纳的晶体管数量，约每隔18个月便会增加一倍）。

[01:42.44]With customers taking equity, putting up research money and making advance orders, ASML will be surer of having a market for products that take a lot of time and money to create.
通过客户持股、设立研究资金和获得预订单的方式，ASML无疑将会占据这个需要大量时间和金钱投入的市场。

[01:55.01]It reckons that EUV will cost it and its suppliers €3.4 billion.
ASML预计，EUV技术开发需要公司和投资者投入34亿欧元。

[02:00.29]Moving to 450mm will require new machines and the reconfiguration of factories.
生产450毫米晶圆需要新的机器以及重新配置厂房。

[02:08.01]A report in 2005 by VLSI, a research firm, estimated that the shift from 200mm to 300mm wafers a decade ago cost the industry $11.6 billion.
研究公司VLSI在2005年发布的一份报告对10年前从200毫米晶圆转换到300毫米晶圆的成本作出评估，结果显示这项转变使整个行业付出116亿美元的代价。

[02:21.59]Until Intel promised to pay (the resulting economies of scale matter more to Intel than to its rivals), ASML had been reluctant to press on with 450mm technology.
如果没有Intel的投资（相关投入所产生的经济效益对于Intel的意义比其竞争对手大得多），ASML将不会继续450毫米晶圆技术的开发。

[02:31.22]The development of EUV, in contrast, was likely anyway.
相比之下，EUV技术无论从哪个角度来看都具有开发前景。
[2:38.07]"EUV has been very important," says Richard Windsor of Nomura, an investment bank. "Most semiconductor companies consider it critical to taking them beyond 20 nanometres."
"EUV一直以来都非常重要，"投资银行野村控股的Richard Windsor表示，"大部分半导体公司都认为，EUV对于他们能否制作小于20纳米宽度的电路起着决定性作用。"

[02:50.03]Deals like this week's should help to get the market going-and cement ASML's lead in the lithographic race.
类似这周的交易将会促进市场的发展，巩固ASML在光刻市场竞争中的领先地位。