India, Nov. 5 -- ASML's extreme ultraviolet (EUV) lithography tools have long been essential to advanced chip manufacturing, with foundries such as TSMC, Samsung, and Intel investing heavily to acquire them.

Now, a U.S. startup is looking to challenge the Dutch company's dominance - and ultimately, seek to replace TSMC's role in advanced chip production by boosting U.S. manufacturing capacity. According to Reuters, Substrate, a San Francisco-based firm, has developed a chipmaking system it claims can rival ASML's most advanced lithography machines.

As Bloomberg indicates, ASML's EUV machines generate a type of light that enables the etching of features on today's most advanced chips. Substrate is taking a different approach. According t...