NRE
Beginner
The one-time cost of designing a new chip, paid before the first one is made.
Novice
Non-recurring engineering: the one-time cost of design work, licensed blocks, tools and the photomasks, paid once however many chips are made.
Expert
Spread across all units, so it sets the volume at which an ASIC beats an FPGA. Mask cost rises steeply at advanced process nodes.
Explained in Fintech and trading (Industries).