美 光 的 存 储 芯 片 版 图 扩 张 ， 始 终 与 中 国 台 湾 市 场 紧 密 相 连 。 2012 年 ， 美 光 并 购 日 本 尔 必 达 （Elpida），同时获得尔必达与力晶合资的DRAM厂商瑞晶电子的股权，将其纳入中国台湾美光体 系。这一交易助力美光跻身全球存储芯片三强，与三星、海力士形成三足鼎立之势。2016年底，美光 以每股新台币30元、总价约1300多亿元新台币的价格，收购台塑集团旗下的DRAM厂商华亚科，华 亚科于同年12月6日从中国台湾证券交易所退市，成为美光100%控股的子公司。此次为响应AI市场 需求，美光以现金方式收购力积电铜锣厂，足见其对扩充产能的迫切需求。 （来源 ：自由时报 ） *免责声明：本文由作者原创。文章内容系作者个人观点，半导体行业观察转载仅为了传达一种不同的观点，不代表半导体行业观察对该 观点赞同或支持，如果有任何异议，欢迎联系半导体行业观察。 | 今天是《半导体行业观察》为您分享的第 4291 期内容，欢迎关注。 推荐阅读 | | --- | | ★ 一颗改变了世界的芯片 | | ★ 美国商务部长：华为的芯片没那么先进 | ★ "ASML新光刻机，太贵 ...

Core Viewpoint - The successful development of China's first serial high-energy hydrogen ion implanter (POWER-750H) by the China National Nuclear Corporation marks a significant advancement in semiconductor manufacturing technology, enabling the country to achieve self-sufficiency in this critical area [1]. Summary by Sections Development and Technology - The POWER-750H has achieved core indicators that meet international advanced levels, indicating that China has fully mastered the entire chain of research and development technology for serial high-energy hydrogen ion implanters [1]. - The development of this technology addresses a key bottleneck in the power semiconductor manufacturing chain, which has long been reliant on foreign imports due to high technical barriers and complexity [1]. Industry Impact - The ion implanter is considered one of the "four core equipment" essential for chip manufacturing, alongside photolithography machines, etching machines, and thin-film deposition equipment, highlighting its critical role in the semiconductor industry [1]. - The successful development of the POWER-750H is expected to enhance China's self-sufficiency in key areas such as power semiconductors, thereby strengthening the security of the industrial chain [1]. Strategic Importance - The technology developed will support China's dual carbon goals and accelerate the development of new productive forces, providing robust technical support for future advancements in the semiconductor industry [1].

Core Insights - The semiconductor industry is currently in a growth cycle driven by strong structural trends, including accelerated demand for AI-driven computing and memory, advanced packaging, power semiconductors, silicon photonics, and the urgent need for supply chain localization [1]. Group 1: AI and Semiconductor Innovation - Artificial intelligence has become the main driving force across the semiconductor value chain, presenting two major themes: the challenges of infrastructure expansion to meet demand and the ability of various industries to deliver viable and profitable AI-driven applications [4]. - The physical limits of data communication capacity are pushing a structural shift in communication infrastructure from copper cables to optical interconnects, particularly in AI data centers where shorter electrical paths and higher-speed optical links are crucial for performance [4]. Group 2: Advanced Packaging and High Bandwidth Memory - The rise of high-performance computing technologies is setting new standards, with advanced packaging being central to ensuring efficient heat dissipation and cost control [6]. - There is a soaring demand for high bandwidth memory (HBM), which is putting pressure on supply chains, raising questions about manufacturers' ability to produce sufficient components [6]. Group 3: Supply Chain Resilience - Supply chain security will be a decisive theme in the coming year, driven by geopolitical tensions that force companies to reassess procurement locations and methods [8]. - China is accelerating the development of its domestic semiconductor ecosystem to meet local demand and catch up in advanced technology production, while major investments by companies like TSMC, Micron, and Intel in the U.S. reflect how government policies and the US-China trade war are influencing global manufacturing strategies [8]. Group 4: Strategic Technologies and Defense - As governments respond to an increasingly unstable geopolitical environment, defense semiconductor technologies are gaining strategic importance, with more countries leading defense investments that drive technology R&D and procurement [9]. - The rapid development of drones is fostering innovation in sensors, drives, communications, and electronic warfare, which are key areas of focus for industry analysis [9]. - The slowdown in semiconductor-related component demand in the automotive market is prompting manufacturers to refocus on defense-related applications, while opportunities in communication infrastructure, including RF and optical satellite technologies for space-based networks, are also expanding [10].

当全球功率电子产业的目光聚焦深圳，被誉为 "功率转换与运动控制领域风向标" 的 PCIM Asia 深圳展会，将于 2026 年 8 月 26 日在深圳国际会展中心（宝安新馆）重磅启幕。 作为深耕行业数十年的全球顶级盛会，PCIM Asia深圳始终以权威视角锚定技术前沿与产业脉搏， 汇聚全球产业链核心力量，成为定义功率电子行业发展方向的核心平台。 而在这场行业盛典中，由 半导体行业观察 倾力打造的 "破局与共生 —— 宽禁带半导体引领功率 电子产业升级与智能应用革新" 专场论坛，更以其垂直深耕的专业定位、全链条穿透的议题设计与 全球顶配的资源矩阵，成为本次展会最受瞩目的核心亮点，独树一帜地搭建起技术突破与产业落地 的高端对话桥梁。 本次论坛紧扣PCIM Asia"功率转换、运动控制"核心命题，以 宽禁带半导体（SiC/GaN） 为绝对 核心，实现从技术研发到产业落地的全链条穿透。不同于泛行业论坛的浅尝辄止，专场聚焦 三大 核心痛点： 作为行业头部媒体， 半导体行业观察 凭借深厚的产业资源积淀，构建了 "海内外全覆盖、全产业 链无死角" 的顶级嘉宾矩阵，彰显高端论坛的绝对权威性： 从国际龙头到国产中坚，从技术研 ...

"苹果的出货量依然巨大，品牌实力也无可匹敌。但该公司不再是晶圆厂、基板制造商或关键零部件 供应商的'锚定客户'。这是一个根本性的变化。" 这一点至关重要，因为掌控供应链的科技公司更有可能赢得竞争。当你能订购最大数量的关键零部件 时，你就能获得更优惠的价格和更可靠的供应。这将转化为价格更具优势且比竞争对手更早上市的产 品。如今，这种权力正转向英伟达（Nvidia）以及亚马逊、微软和谷歌（又称 "AMG"）等大型云服 务巨头。 最明显的迹象出现在全球最大的芯片制造商台积电（TSMC）。台积电以前因大量生产用于 iPhone 的尖端芯片而闻名，这也让苹果相对于其他消费硬件厂商拥有了巨大优势。 但在台积电本周公布财报后，情况变得非常清晰：智能手机业务已不再是其最重要的部门。如今，高 性能计算 —— 这一由英伟达等公司的 AI 芯片以及超大规模云服务提供商主导的领域 —— 约占台积 电营收的 58%，远超智能手机处理器业务。 公众号记得加星标⭐️，第一时间看推送不会错过。 十多年来，苹果一直处于科技供应链的中心。凭借其巨大的规模，它能够决定价格、锁定产能，并主 导从芯片、内存到底板和封装等各类供应商的发展路线图。但那个 ...

Core Viewpoint - The article discusses the significant investment and strategic shifts in the semiconductor packaging industry, particularly focusing on advanced packaging technologies driven by the AI wave and the structural changes in the storage industry [1][2]. Group 1: Investment and Market Trends - SK Hynix announced a 19 trillion KRW (approximately 12.9 billion USD) investment to build an advanced chip packaging factory in Cheongju, South Korea, reflecting the structural changes in the storage industry due to AI [1]. - The global advanced chip packaging market is projected to grow from 50.38 billion USD in 2025 to 79.85 billion USD by 2032, with a compound annual growth rate (CAGR) of 6.8% [2]. - By early 2026, leading packaging and testing companies are expected to ramp up advanced packaging capacity, indicating a competitive landscape focused on advanced packaging capabilities [2]. Group 2: TSMC's Dominance - TSMC is recognized as the leader in advanced packaging, holding over 60% market share in semiconductor manufacturing and establishing significant competitive barriers in advanced packaging technologies [2][3]. - TSMC has developed three branches of CoWoS technology: CoWoS-S for medium-sized chips, CoWoS-R for greater design flexibility, and CoWoS-L for large AI chips [3]. - TSMC's SoIC technology, based on CoWoS and wafer-on-wafer stacking, offers higher interconnect density and improved performance compared to traditional 2.5D packaging [3]. Group 3: Capacity Expansion and Technological Advancements - TSMC's CoWoS capacity is projected to increase 6-8 times from 2023 to 2026, with a CAGR exceeding 60% [5]. - TSMC's new advanced packaging facilities, including the flagship AP6 plant in Zhunan, are designed for full automation and are expected to handle significant orders from major clients like NVIDIA and AMD [5][6]. - TSMC is also expanding its advanced packaging capabilities in the U.S. with plans for two new facilities in Arizona, focusing on SoIC and CoPoS technologies [6]. Group 4: Competitors' Strategies - ASE, as the largest packaging and testing foundry, is benefiting from the advanced packaging trend, with over 60% of its ATM business expected to come from advanced packaging by 2025 [9]. - ASE is developing its own 2.5D packaging platform, FOCoS, and is expanding its production capacity across multiple sites, including a new K28 plant aimed at meeting the demand for AI and GPU chips [10][11]. - Amkor is enhancing its market position through partnerships, such as its collaboration with Intel on EMIB technology, and expanding its facilities in the U.S. to meet advanced packaging demands [15][16]. Group 5: Mainland China's Participation - Mainland Chinese companies are actively investing in advanced packaging technologies and capacity, with firms like Yongxi Electronics and Changjiang Electronics focusing on high-density packaging and automotive electronics [20][22]. - Yongxi Electronics is establishing a new production base in Malaysia to enhance its overseas strategy, while Changjiang Electronics is expanding its automotive electronics packaging capabilities [21][22]. - Tongfu Microelectronics is also increasing its advanced packaging capacity, particularly in automotive and high-performance computing sectors, to meet growing market demands [23][24]. Group 6: Future Outlook - The article concludes that while TSMC's dominance in advanced packaging is unlikely to be challenged in the short term, other specialized packaging firms are seeking to differentiate themselves through flexible capacity and innovative technologies [25][27]. - The collective expansion of packaging firms represents a significant industry bet on the demand for AI-driven computing power, with the potential for winners to emerge as the market stabilizes and technology paths clarify [27].

公众号记得加星标⭐️，第一时间看推送不会错过。 如果你一年前把所有积蓄都投入到几托盘电脑内存芯片中，现在你的钱至少已经翻了一番。而且，预 计价格还会继续飞速上涨。 全球升值最快的资产之一——内存芯片——背后是人工智能（AI）公司对其的旺盛需求。这些芯片 ——主要是我们常说的RAM（随机存取存储器），但也包括通常被称为闪存或固态存储器的存储芯 片——是地球上几乎所有数字设备所必需的。而其中超过90%的芯片都由三家公司生产：SK海力 士、三星以及美光。 据Counterpoint Research称，2025年第四季度内存价格飙升了50%，预计到2026年第一季度末还将 再上涨40%至50%，这主要得益于数据中心建设者愿意支付巨额溢价。 由于AI公司正在挤占其他内存买家的市场份额，这可能会在无数行业产生意想不到的连锁反应。其影 响可能包括数据中心建设延期、笔记本电脑、电视和其他消费电子产品价格上涨，以及汽车制造商可 能面临芯片短缺，从而导致汽车生产延期，重蹈疫情期间汽车危机的覆辙。 "我关注存储器行业近20年了，这次的情况确实与以往不同，"总部位于中国台湾台北的TrendForce 高级研究副总裁Avril Wu ...

Core Viewpoint - ASML's market capitalization has surpassed $500 billion, driven by TSMC's higher-than-expected capital expenditures, indicating strong demand in the semiconductor industry, particularly in AI-related investments [1][2]. Group 1: Financial Performance and Market Position - TSMC's capital expenditure for 2026 is projected to be between $52 billion and $56 billion, exceeding market expectations of $46 billion, which positively impacts ASML's stock [1]. - ASML's stock has risen over 24% this month and 49% over the past year, outperforming the S&P 500 index, which increased by 15% [4]. - ASML's earnings per share (EPS) is expected to reach approximately $46 by 2027, nearly double that of 2025, reflecting strong growth momentum [2][3]. Group 2: Market Demand and Technological Advancements - ASML holds a 90% market share in advanced lithography equipment, primarily due to its unique capability to manufacture extreme ultraviolet (EUV) lithography machines [3][6]. - The demand for EUV technology is expected to grow rapidly by 2026, driven by advanced DRAM and cutting-edge logic devices, while the demand for deep ultraviolet (DUV) technology is anticipated to decline [6][7]. - ASML's high numerical aperture (High-NA) EUV systems are set to play a crucial role in the production of 2nm and below process technologies, marking a significant technological advancement in chip manufacturing [7]. Group 3: Analyst Predictions and Market Sentiment - Morgan Stanley analysts predict that ASML's stock could rise by up to 70%, potentially reaching $2,000 if profits exceed expectations and tech valuations continue to climb [2]. - The firm emphasizes that the ongoing capital expenditure cycle, particularly in the wafer foundry and memory sectors, supports their bullish outlook on ASML [2]. - ASML's service revenue has increased by 39% to €6 billion, accounting for 26% of total sales, indicating a strong growth trajectory in service offerings [3].

公众号记得加星标⭐️，第一时间看推送不会错过。 如果人工智能时代的扩张势头减弱，全球最重要的芯片代工厂——台积电（TSMC）将首当其冲。而 如果人工智能时代市场真的萎靡不振，那将是所有市场巨头——超大规模数据中心运营商、云服务 商、模型构建商以及其他大型服务提供商——都对自身的市场预测过于乐观，以至于台积电将动用一 整年的净利润来扩建其芯片蚀刻和封装工厂。 在与华尔街分析师一起查看 2025 年第四季度的数据时，其中一位分析师问该公司首席执行官魏哲家 （他不仅与芯片设计客户交谈，还与他们的客户交谈），以了解这种人工智能需求是否真实存在。 "我也很紧张，"魏承认道。"当然，因为我们需要投入大约520亿到560亿美元的资本支出。如果我们 处理不当，对台积电来说肯定是一场巨大的灾难。所以，在过去的3到4个月里，我花了很多时间与我 的客户以及最终客户的客户沟通。我想确保客户的需求是真实的。因此，我与所有云服务提供商都进 行了交流。我对他们的回答相当满意。事实上，他们向我展示了人工智能确实帮助他们业务发展的证 据。因此，他们的业务增长顺利，财务回报也很健康。我还仔细核查了他们的财务状况——他们非常 富有。这听起来比台积 ...

然而，由于需求意外激增，DDR4内存的价格最近也开始上涨，使其对预算有限的装机用户来说吸引 力下降。此外，制造商也在逐步停止DDR4的生产，并将资源投入到利润更高的DDR5内存的生产 中，这进一步推高了内存价格。 公众号记得加星标⭐️，第一时间看推送不会错过。 DDR3内存于2007年推出，当时英特尔酷睿2至尊版和AMD Phenom X4是市场上最好的消费级处理 器。自那时以来，PC硬件领域已经取得了长足的进步，但由于DRAM价格的飙升，据报道，中国的 一些系统集成商正在转向使用几十年前的硬件来组装新的、价格实惠的定制电脑。 据中国电脑硬件论坛Board Channels上的一篇帖子称，一些用户为了组装价格相对低廉且内存容量大 的工作站，开始购买老款Intel X99 HEDT主板和DDR3内存。这些主板本身支持DDR4内存，但据报 道，一些中国厂商正在销售经过改装的版本，这些版本可以兼容非ECC和ECC的DDR3内存。 X99主板支持高达128GB的四通道DDR4内存，但一些在线零售商列出了多款支持高达256GB八通道 DDR3内存的型号。这些主板和内存条大多与英特尔第六代至第九代酷睿处理器捆绑销售。 报 ...