The cost of ownership (COO) of candidate technologies for 32 nm and 22 nm half-pitch lithography is calculated. To more accurately compare technologies with different numbers of process steps, a model that includes deposition, etching, metrology, and other costs is created. Results show lithography COO for leading edge layers will increase by roughly 50% from the 45 nm to the 32 nm half-pitch nodes. Double patterning and extreme ultraviolet lithography (EUVL) technologies have roughly the same COO under certain conditions. For 22 nm half-pitch nodes, EUVL has a significant cost advantage over other technologies under certain mask cost assumptions. Double patterning, however, may be competitive under worst case EUVL mask cost assumptions. Sensitivity studies of EUVL COO to throughput and uptime show EUVL may be cost-competitive at lower uptime and throughput conditions. In spite of these higher costs, total lithography costs for 32 nm and 22 nm half-pitches remain within reach of the Moore's Law trend. Finally, the COO of 450 mm lithography is calculated and shows the expected cost reduction is between 0% and 15%.