Taiwan Semiconductor Manufacturing Company aka TSMC (NYSE: TSM ) is a pure play foundry. The company, founded in 1987 and based in Hsinchu, Taiwan, manufactures chips; it does one thing, and does it well. TSMC was the first Analyst's Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (o ...

Core Viewpoint - Key semiconductor stocks experienced declines in both Asia and the U.S. following reports that the Trump administration may seek equity stakes in companies receiving federal grants under the CHIPS Act [1][2]. Government Plans - U.S. Commerce Secretary Howard Lutnick is considering a plan for the government to acquire equity stakes in chip-producing companies, specifically mentioning Intel, in exchange for grants under the CHIPS Act [1][2]. - The potential deal with Intel could result in the government obtaining a 10% stake in the company [2]. Impact on Other Companies - The equity stake condition may extend to other companies receiving grants under the CHIPS Act, including Micron, TSMC, and Samsung [3]. - A significant portion of the grant money allocated to these companies has yet to be disbursed [3]. Market Reactions - Intel's shares fell over 1% to $25.02 after a nearly 7% increase the previous day [4]. - AMD shares dropped 1.4% in premarket trading after a 5.4% decline on Tuesday, while Micron's shares fell 5.16% [4]. - In Asia, TSMC's shares decreased by 4.2% to TWD 1,135, and SK Hynix shares fell by 2.9% to KRW 255,500 [4]. Nvidia's Position - Nvidia's shares rose slightly to $175.85, as the company has not received any grants under the CHIPS Act due to its reliance on external chip manufacturers like TSMC and Samsung [5]. Political Context - Former President Donald Trump has criticized the Biden-era CHIPS Act, labeling it ineffective and suggesting that the government should seek equity for the funds provided to companies [6]. - Lutnick emphasized the shift in approach, stating that the Biden administration was giving money without seeking equity, while the Trump administration aims to secure a stake in return for financial support [6]. Additional Developments - SoftBank announced a deal to purchase $2 billion worth of Intel stock at $23 per share [7].

Core Insights - Intel stock surged nearly 7% following reports of potential government investment and a significant stake from SoftBank, indicating renewed investor interest and potential for a stock rally [1][2] - The company has faced challenges including declining revenues and market share losses, but government backing and a domestic manufacturing edge could drive a turnaround [2][4] - Intel's revenue is projected to decline to about $52 billion in 2024, but there are signs of potential recovery with a projected annual growth of 7% from 2025 to 2028 [4][9] Revenue Trends - Intel's revenues fell from $79 billion in 2021 to $53 billion in 2024 due to a cooling PC market and competition from AMD [4] - The PC market is expected to recover with low single-digit growth, but Intel's sales are still projected to dip by 2% this year [4] - A rebound in CPU-related spending and stronger product offerings could position Intel to benefit from the recovery in the PC market [8] Margin Analysis - Intel's adjusted net margins have declined from around 29% in 2021 to approximately 8.5% in 2023, with negative margins expected in 2024 [10] - The company plans to cut $1.5 billion in operating expenses and lay off about 25,000 employees, which could improve margins over time [11] - If margins recover to about 20% by 2028, this could significantly enhance profitability [11] Valuation Insights - Currently trading at about $25 per share, Intel's valuation reflects a high earnings multiple, with potential for significant upside if growth resumes [12] - If revenue grows to about $64 billion by 2028 with adjusted net income reaching nearly $13 billion, the stock price could approach $60 per share [12] - The turnaround timeline is flexible, with potential gains expected as key metrics improve [13]

智通财经APP获悉，美国政府入股英特尔(INTC.US)的计划将为这家陷入困境的芯片制造商提供一个强 大的后盾，但更大的挑战仍在前方，即找到足够多愿意付费的客户。 华尔街分析师并不认为，仅靠资金就能扭转英特尔多年来销售下滑、市场份额流失的局面。但存在这样 一种可能性，即美国总统特朗普施加的压力可能会帮助这家芯片制造商为其代工部门争取到更多客户， 从而为扩张美国国内制造业务的高昂成本找到理由。Synovus Trust高级投资组合经理Dan Morgan表 示："如果美国政府最终持有英特尔的股份，那么特朗普就有点像是这家公司的推销员了。" 软银集团本周已宣布购买价值20亿美元的英特尔股票。这引发了人们的猜测，这家日本企业可能会利用 英特尔进行芯片制造。软银创始人孙正义与特朗普建立了密切关系，他雄心勃勃地想开发能够与英伟达 (NVDA.US)竞争的人工智能芯片。 对于一家近年来饱受打击的公司来说，这无疑是一个乐观时刻。英特尔前任首席执行官Pat Gelsinger曾 押注工厂扩建计划——其核心是位于俄亥俄州的新工厂——能够扭转英特尔的命运。该计划旨在推动英 特尔转型为芯片代工厂。拜登政府时期《芯片法案》的资金原本 ...

And I do want to start here with this idea that we've had. Any time you have a big rally, you're always going to have these daily pullbacks, even weekly pullbacks, if you will. That doesn't necessarily mean the rally is over.And I do wonder if you see enough fundamental case there for this rally to reset and continue. Yeah, well, I view it as a bump in the road because it's our view. When you do a revolution, you're just continuing to get validation from earnings and from everything we've seen from the data ...

Technology Strategy - The U.S. government has officially enacted the "Maintaining American Advantage Act" which mandates the Department of Commerce's Bureau of Industry and Security (BIS) to report annually to Congress on export control licenses [2] Investment - SoftBank Group has invested $2 billion in Intel, acquiring 2% of its total shares at $23 per share, positioning itself as Intel's fifth-largest shareholder, reflecting confidence in the U.S. semiconductor industry [3] AI and Semiconductor Development - NVIDIA is developing a new AI chip named B30A for the Chinese market, which will outperform the currently approved H20 chip, although regulatory approval remains uncertain [3] Quantum Computing - Oak Ridge National Laboratory (ORNL) has announced the procurement of a 20-qubit superconducting quantum computer from IQM, which will be integrated into its high-performance computing systems [4] Biotechnology - A new peptide design model named PepMLM has been developed by researchers from the University of Pennsylvania and Duke University, allowing for the design of peptide ligands based solely on target protein sequences [5] Emergency Authorization - The U.S. Department of Health and Human Services has authorized the FDA to issue emergency use authorizations for animal drugs to combat the potential threat of New World screw-worms to the food supply [6] Gene Editing - Researchers from Harvard University and Jackson Laboratory have successfully used prime editing technology to correct a pathogenic gene mutation in a mouse model, offering new avenues for gene therapy in neurological diseases [7] Energy Technology - Equatic, a U.S. startup, has developed a technology that simultaneously produces green hydrogen from seawater while capturing and storing carbon dioxide, enhancing the efficiency and safety of the process [8] Robotics and Autonomous Systems - The U.S. Coast Guard has established a Robotics and Autonomous Systems (RAS) Project Execution Office to enhance operational capabilities in border security and emergency response [9] Maritime Technology - The American Bureau of Shipping (ABS) is collaborating with Saronic Technologies to develop standards for autonomous surface vessels, aiming to improve safety and efficiency in maritime operations [10] Enhanced Maritime Awareness - Ocean Power Technologies has upgraded its AI-driven maritime awareness solution, Merrows™, to enhance continuous monitoring capabilities in complex environments [11] Aerospace - Quidditch Company has launched a new modular stealth drone named "Clone Ranger," designed for short takeoff and landing, capable of carrying various payloads [12] Space Communication - Blue Origin has unveiled the Mars Telecommunications Orbiter (MTO) to establish a high-speed communication relay network between Earth and Mars, expected to launch in 2028 [14] Advanced Materials - NASA has developed a new 3D-printable metal alloy named GRX-810, designed to withstand extreme temperatures for aerospace engine components [15] Quantum Materials - A research team from Chalmers University of Technology and Finland has developed a new quantum material that enhances qubit stability against environmental noise, addressing a core challenge in quantum computing [16] Advanced Manufacturing - Divacant Technologies has partnered with Raytheon to optimize and produce U.S. Navy equipment using its adaptive production system, which automates the design and manufacturing process [17] Smart Glasses - Meta is set to launch its first smart glasses with a built-in display named "Hypernova," priced at $800, featuring gesture control and advanced camera capabilities [18]

With over 15 years of experience in the markets and a degree in economics, I focus on breaking down companies with clarity and discipline. My goal is to give individual investors a straightforward, honest view— what's working, what isn't, and where the risks and opportunities actually are. I don't chase narratives. I follow the numbers and the business underneath. Analyst's Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any su ...

Core Viewpoint - SoftBank plans to acquire a record $2 billion stake in Intel, making it one of the largest shareholders of the American chip manufacturer, while also considering a direct acquisition of Intel's foundry division shortly before the deal [1][2]. Group 1: Investment and Strategic Moves - SoftBank's investment in Intel represents a significant commitment to turning around the struggling company and highlights its geopolitical importance in keeping advanced semiconductors in the U.S. [2][3]. - The investment aligns with SoftBank's broader strategy to expand its influence in the artificial intelligence market and establish a foothold in emerging technologies [2][3]. - Previously, SoftBank held a 4.9% stake in Nvidia but sold it during a downturn, resulting in substantial losses as Nvidia's stock rebounded [3]. Group 2: Intel's Challenges and Leadership - Intel has faced ongoing challenges and is competing with TSMC for advanced semiconductor processes, with geopolitical concerns surrounding TSMC's operations in Taiwan [1][2]. - CEO Lip-Bu Tan has been working to refocus Intel on core operations and cost-saving measures, but faces scrutiny due to past associations with China [1][2]. - Intel's foundry business is struggling, and without sufficient customer commitments, its next-generation manufacturing processes may be at risk [3][4]. Group 3: Political and Economic Context - The U.S. government is considering using funds from the CHIPS Act to acquire a 10% stake in Intel, emphasizing the strategic importance of domestic semiconductor manufacturing [1]. - The relationship between Trump and Lip-Bu Tan has evolved, with Tan previously being a board member at SoftBank until 2022 [2]. - The outcome of SoftBank's investment and the political interventions by Trump and Son Masayoshi remain uncertain regarding their potential to revitalize Intel [4].

Core Insights - Intel is experiencing significant talent loss due to financial constraints, layoffs, and project cancellations, prompting competitors like Samsung Electronics to aggressively recruit skilled engineers from Intel [1][2][3] - Samsung is particularly targeting engineers with expertise in advanced packaging technology, glass substrates, and backend power delivery systems, which are critical for next-generation semiconductor projects [1][2] - The ongoing layoffs at Intel, which aim to reduce the workforce by 75,000, are seen as an opportunity for Samsung to acquire top talent in the semiconductor industry [1][3] Group 1 - Intel's recent layoffs and project cancellations have led to a talent exodus, with many engineers moving to Samsung Electronics and its subsidiaries [1][2] - Samsung is focusing on hiring experienced packaging process engineers, especially in areas where it lacks expertise, such as backend power delivery and glass substrates [2] - The departure of key engineers, including Intel's chief packaging engineer Gang Duan, highlights the severity of talent loss at Intel [2] Group 2 - Industry experts predict that Intel's ongoing reduction of investment in foundry-related projects will continue to result in talent outflow [3] - Intel's CEO has acknowledged that past investments in capacity exceeded demand, indicating a shift in the company's development strategy [3] - Samsung is advised to selectively recruit talent based on actual departmental needs rather than solely on their Intel background [3]

据英特尔中国官微消息，英特尔通用快接头互插互换联盟今日正式成立，首批认证合作伙伴包括英维 克、丹佛斯、立敏达科技、蓝科电气和正北连接。 (本文来自第一财经) ...