Core Insights - Chip companies are currently testing Intel's new production process, referred to as 18A [1] Group 1 - The 18A process is a significant advancement in semiconductor manufacturing technology [1]

硅谷一个黎明前的周四，英特尔公司首席执行官陈立武正遭受来自美国总统的公开抨击。 美国太平洋时间 8 月 7 日凌晨 4 点 39 分，唐纳德・特朗普总统在其 "真实社交" 平台发文称："英特尔 首席执行官深陷利益冲突泥潭，必须立刻引咎辞职。" 出任英特尔首席执行官前，陈立武曾在中国企业 领域频繁布局投资，是业内知名的多产投资人。 特朗普与陈立武此前素未谋面。英伟达、超威半导体、开放人工智能研究中心、亚马逊、谷歌、帕兰提 尔等科技巨头的高管近期均陆续与特朗普会面，而这位执掌美国最具传奇色彩芯片制造商的掌舵人，自 3 月加入英特尔以来，却始终未曾与总统有过正式接触。 政治事务并非陈立武的首要工作重心。这位 66 岁的高管，距上次为总统选举提供政治献金已过去 20 余 年。尽管他在 4 月曾与美国商务部长霍华德・卢特尼克等几位政府高层有过沟通，但在前任民主党籍华 盛顿政策负责人辞职后，英特尔的该核心职位空缺数月，陈立武也迟迟未推进补缺工作。 据两位知情人士透露，特朗普发难后，英特尔迅速紧急协调，争取与总统会面的机会。这一系列努力最 终促成了陈立武数十年职业生涯中至关重要的一场约 40 分钟会面。 关于陈立武与英特尔 ...

英特尔盘前跌幅扩大至4.3%。 来源：滚动播报 ...

Core Viewpoint - Intel CEO Lip-Bu Tan faced criticism from the President of the United States during a pivotal moment in Silicon Valley, highlighting the tensions between government and tech companies [1] Group 1 - The incident occurred early on a Thursday morning, indicating a significant and possibly urgent matter at hand for Intel and the tech industry [1]

英特尔越南总经理谢建国对科技部代表团到访表示欢迎，并高度评价越南推动半导体产业的积极政策。 他表示，英特尔将深度参与越南半导体发展战略的实施，分享生态系统建设与高端人才培养经验，并助 力开发面向数字化转型的专用芯片。 此外，裴还建议英特尔参与集成电路设计开发工程师培训，提供强化课程、实习或奖学金，并与高校及 研究机构合作培养半导体高素质人才。 越南《越南经济时报》12月22日报道，越南科技部副部长裴黄芳近期访问胡志明市英特尔越南封装测试 厂时表示，建议英特尔扩大在越芯片封装测试领域的投资，并积极参与越南半导体战略实施。他还鼓励 英特尔扩大在越研发中心或与本地伙伴合作，投资实验室、仿真与测试设施，聚焦数字化转型所需专用 芯片的研发，并拓展在越南的制造与ATP(组装、测试、封装)业务。 ...

Core Insights - The quantum hardware sector, including companies like IonQ and D-Wave, is seen as a long-term growth opportunity but lacks guaranteed near-term earnings for 2026 [2] - Quantum enablers, which provide necessary infrastructure and services for quantum adoption, present more immediate investment opportunities [3][4] Quantum Enablers - Companies such as Intel, Broadcom, and Teradyne are identified as quantum enablers with projected earnings growth exceeding 40% in 2026 [4] - Advanced Micro Devices (AMD) is collaborating with IBM on quantum workloads, with an estimated earnings growth of 58% in 2026, primarily driven by data center demand [6] Post-Quantum Cryptography - There is a growing demand for post-quantum cryptography as governments and enterprises seek to secure data against future quantum threats [7] - SEALSQ Corp. has commercialized secure chips with post-quantum cryptography, projecting earnings growth of 66.7% in 2026 [8] Company-Specific Insights - Lockheed Martin (LMT) is advancing quantum technologies for defense applications, with a projected earnings growth of 34.8% in 2026 [9] - Intel is expected to achieve 83.4% earnings growth in 2026, leveraging its CMOS manufacturing for quantum advancements [14] - Broadcom is positioned for 42.5% earnings growth in 2026, driven by demand for quantum-resilient infrastructure [16] - Teradyne is projected to report nearly 45% earnings growth in 2026, supported by its expansion in photonics and semiconductor testing [19]

Core Insights - The article emphasizes the importance of identifying high-potential investment opportunities before they experience significant growth, focusing on asymmetric opportunities with a potential upside of 3-5 times the downside risk [1] Investment Strategy - The investment approach prioritizes leveraging market inefficiencies and contrarian insights to maximize long-term compounding while safeguarding against capital impairment [1] - A strong margin of safety is sought to protect against potential capital losses, ensuring that risk management is a key component of the investment strategy [1] - The investment horizon is set at 2-3 years, allowing the company to endure market volatility and emphasizing the importance of patience, discipline, and intelligent capital allocation for achieving superior returns over time [1]

Core Insights - The article emphasizes the importance of identifying high-potential investment opportunities before they experience significant growth, focusing on asymmetric opportunities with a potential upside of 3-5 times the downside risk [1]. Investment Strategy - The investment approach prioritizes leveraging market inefficiencies and contrarian insights to maximize long-term compounding while safeguarding against capital impairment [1]. - A strong margin of safety is sought to protect against potential capital losses, ensuring that risk management is a key component of the investment strategy [1]. - The investment horizon is set at 2-3 years, allowing the company to endure market volatility and emphasizing the importance of patience, discipline, and intelligent capital allocation for achieving substantial returns over time [1].

If you enjoyed this, consider Ian's Insider Corner to enjoy access to similar initiation reports for all the new stocks that we buy. Membership also includes an active chat room, weekly updates, and my responses to your questions.The stock market has been enjoying a solid run into the holidays, and there's a decent chance that the so-called Santa Claus rally could keep running until the end of the year.Ian Bezek is a former hedge fund analyst at Kerrisdale Capital. He has spent the decade living in Latin Am ...

在芯片大厂英特尔(Intel) 目前正处于晶圆代工（Foundry） 业务转型的关键时刻之际，根据最新 的市场观察与Intel 前内部高层的观点，Intel 在争取顶尖代工客户的过程中，正面临一个巨大的结 构性障碍，那就是该公司同时身兼「竞争对手」与「合作伙伴」的双重身份。尽管Intel 正积极推 动intel 18A 与intel 14A 制程的量产，但如何赢得英伟达（NVIDIA）、超微（AMD） 及高通 （Qualcomm） 等竞争对手的信任，已成为其代工事业能否成功的核心议题。 而针对市场与内部的质疑，Intel 也并非毫无作为。 intel 副总裁John Pitzer 日前在瑞银（UBS） 会议上透露，Intel 晶圆代工正朝着建立独立法律实体的方向迈进。目前，Intel 已为代工部门设立 了专门的咨询委员会，并正逐步将其转变为独立实体，以确保各部门之间不会相互影响，这些动作 也正是为了回应外部客户对于业务分离的需求。他强调，如果执行长陈立武与董事会认为拆分能带 来更多价值，公司将会毫不犹豫地朝那个方向行动。目前的一系列行政与法律隔离措施，正是为了 创造这种选项。 有趣的是，Intel 本身多年来 ...