About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Group 1 - Intel's stock is experiencing a surge of 6.4% on Black Friday morning, despite the lack of clear reasons for this increase [1] - Taiwan Semiconductor Manufacturing Company (TSMC) is suing Intel to prevent the hiring of former TSMC vice president Wei-Jen Lo, citing concerns over potential trade secret leaks [3][4] - TSMC's lawsuit has led to a criminal investigation in Taiwan, with authorities raiding Lo's residences and seizing evidence related to national security [5] Group 2 - Intel disputes TSMC's allegations, claiming there is no merit to the accusations against Lo, but the lawsuit does not appear to justify the rise in Intel's stock price [6] - Despite a market cap of $187 billion and expectations for future profit growth, Intel is still burning over $8 billion in cash annually, with positive free cash flow projected to be a couple of years away [7] - Analysts suggest that Intel is not a recommended buy at this time, with other stocks identified as better investment opportunities [9]

Core Viewpoint - Intel's stock price increased by over 6.5% to $39.24, driven by growing industry interest in custom ASICs in the AI computing era, particularly following Google's success with its self-developed chips [1] Group 1: Company Developments - Google's success with its self-developed chips is drawing attention to the expanding role of custom ASICs in AI computing [1] - TSMC is currently the main manufacturing partner for Google's TPU, indicating a competitive landscape in chip manufacturing [1] - The increasing momentum of custom AI ASICs is expected to benefit Intel's foundry services and product roadmap, potentially enhancing Intel's broader recovery outlook [1] Group 2: Market Implications - The developments in custom ASICs may serve as a breakthrough catalyst for Intel's stock, reinforcing positive market sentiment [1]

Group 1 - Intel's stock price increased by 5.8% on November 28, indicating a positive market response [1] - This rise marks the company's fifth consecutive day of stock price increases, suggesting a potential upward trend in investor sentiment [1]

Intel expected to begin shipping Apple’s lowest-end M processor as early as 2027There have long been market rumors that Intel could become an advanced-node foundry supplier to Apple, but visibility around this had remained low. My latest industry surveys, however, indicate that visibility on Intel becoming an advanced-node supplier to Apple has recently improved significantly.Apple previously signed an NDA with Intel and obtained the advanced-node 18AP PDK 0.9.1GA. The key simulation and research projects ( ...

Industry Outlook - Intel is projected to begin shipping Apple's lowest-end M processors as early as 2Q-3Q27, utilizing the 18AP advanced process [1] - The actual timeline depends on the development progress after obtaining PDK 1.0/1.1, expected to be released by Intel in 1Q26 [1] - The lowest-end M chips are primarily used in MacBook Air and iPad Pro, with a combined shipment volume of approximately 20 million units in 2025 [1] - Due to potential impact from new low-cost MacBooks with iPhone processors, the projected shipment volume for the lowest-end M processors in 2026 and 2027 is estimated to be between 15 million and 20 million units [1] Strategic Implications - The order for the lowest-end M processors has no impact on TSMC's fundamentals and leading advantage in the coming years [2] - For Apple, this move supports the "Made in America" policy and diversifies its supply chain, reducing reliance on TSMC [2] - For Intel, securing Apple's advanced process order is more significant than the actual revenue and profit contribution, signaling a positive turn for its IFS business [2] - This order suggests that Intel's 14A or more advanced processes may attract more orders from Apple and other major clients, improving its long-term prospects [2]

Intel Corp. (NASDAQ:INTC) is witnessing a notable strengthening in market sentiment, with its Benzinga Edge’s Stock Rankings‘ momentum score climbing from 88.53 to 90.51 week-over-week.Check out INTC's stock price here.Intel Jumps In Top Decline Of Momentum GainsThis shift pushes the chipmaker into the top tier of relative strength, signaling that investors are prioritizing macroeconomic tailwinds over a brewing corporate espionage issue involving its foundry rival, Taiwan Semiconductor Manufacturing Co. Lt ...

Core Viewpoint - The global semiconductor industry is engaged in a strategic competition centered around the establishment of 2nm wafer fabs, which are seen as critical for AI-era computing sovereignty [1][20]. Group 1: TSMC's Expansion Plans - TSMC plans to increase its 2nm fab count from seven to ten, with an estimated cost of approximately NT$300 billion (US$80-100 billion) per fab, totaling around NT$900 billion for the additional three fabs [2][3]. - TSMC's strategy focuses on serving top-tier clients in AI GPU, high-end CPUs, and mobile SoCs, ensuring long-term capacity even amid macroeconomic fluctuations [2][3]. - The company emphasizes that the most advanced nodes must remain in Taiwan, with overseas fabs primarily serving political and customer relationship needs [3][4]. Group 2: Intel's 18A Technology - Intel's 18A process technology is positioned to compete with TSMC's 2nm, with recent reports indicating a steady improvement in yield rates [6][8]. - The U.S. government has become Intel's largest single shareholder, converting subsidies into equity, which strengthens Intel's capital structure [8][9]. - Intel's success in the 2nm race will depend not only on the 18A technology but also on its ability to establish itself as a true foundry company [9]. Group 3: Samsung's Progress - Samsung's 2nm process yield has improved to 55-60%, with plans to increase monthly production from 8,000 wafers in 2024 to 21,000 by the end of 2025 [10][12]. - The company secured a significant contract with Tesla for AI6 chip production, valued at US$16.5 billion over eight years, which is crucial for enhancing Samsung's position in the U.S. foundry market [11][12]. - Samsung aims to regain profitability in its foundry business within two years while targeting a 20% market share [12][13]. Group 4: Japan's Rapidus Initiative - Rapidus, a smaller player, is focused on establishing domestic 2nm production capacity with government support, aiming for mass production by the second half of the 2027 fiscal year [15][17]. - The company plans to build a second factory in Hokkaido, with significant investment expected from the Japanese government and private sector [17][18]. - Rapidus's approach involves a unique single-wafer processing method, which may lead to higher capital expenditures but aims for better yield control [18]. Group 5: Market Dynamics and Geopolitical Implications - The 2nm node is viewed as a critical infrastructure for AI, with significant implications for capital expenditure and industry dynamics [20][21]. - The construction of 2nm fabs is heavily influenced by government policies and partnerships with major clients, making it a tool for national industrial policy [21][22]. - The concentration of 2nm production capacity in Taiwan and a few allied nations raises concerns about supply chain resilience and geopolitical risks [22]. Group 6: Potential Beneficiaries - Semiconductor equipment manufacturers are expected to benefit significantly from the construction of 2nm fabs, as these facilities require advanced equipment for production [24]. - Major clients like NVIDIA, Apple, and AMD will gain more bargaining power with multiple 2nm suppliers, but risks remain if AI demand declines or yields do not meet expectations [25][26].

Group 1 - Chicago Mercantile Exchange experienced a trading halt due to a data center failure, disrupting various markets including stocks, forex, bonds, and commodities, causing widespread dissatisfaction among market participants [1] - Chinese concept stocks saw a pre-market rally, with Pinduoduo up 0.69%, JD.com up 1.29%, NIO up 1.46%, and Xpeng up 1.32% [1] - Technology stocks mostly rose in pre-market trading, with Micron Technology up 2%, Qualcomm up over 1%, and Google A up over 1% [1] Group 2 - Oracle is in talks with multiple banks for a new loan of up to $38 billion, aimed at expanding infrastructure for OpenAI, while Oracle's stock fell by 1.64% [1] - Apple has filed a lawsuit in the Delhi High Court against a potential $38 billion fine from India's antitrust agency, which is investigating complaints of "abuse" related to high commissions for in-app purchases, with Apple's stock rising by 0.34% [2] - TSMC has sued a former executive for allegedly stealing trade secrets and joining Intel, claiming the individual may have disclosed confidential information to Intel, while Intel denies the allegations [2] - JPMorgan predicts the Federal Reserve will cut interest rates by 25 basis points in December, contradicting previous expectations of maintaining rates until January, following hints from key officials about earlier rate cuts [2]

Core Points - TSMC has filed a lawsuit against former senior vice president Luo Wei-ren for allegedly taking confidential 2nm technology to Intel after leaving the company [1] - Luo Wei-ren had signed non-disclosure and non-compete agreements during his tenure at TSMC, promising not to work for competitors after leaving [1] - Intel's CEO Pat Gelsinger has publicly supported Luo, claiming the accusations are baseless and emphasizing Luo's previous contributions to wafer process technology development at Intel [2] Group 1 - TSMC's lawsuit is based on concerns that Luo may use or disclose trade secrets to Intel [1] - Luo Wei-ren's background includes a PhD from UC Berkeley and a long career in semiconductor technology, including roles at both TSMC and Intel [1] - The legal action reflects TSMC's commitment to protecting its intellectual property and competitive advantage in advanced semiconductor manufacturing [1] Group 2 - Intel's response highlights the company's support for Luo and its stance on the allegations, indicating a potential conflict between the two companies [2] - Gelsinger's internal communication to employees reinforces Intel's position on the matter and aims to maintain morale amid the controversy [2] - The situation underscores the competitive dynamics in the semiconductor industry, particularly regarding talent movement and intellectual property [2]