Group 1 - TSMC announced the launch of its 2026 campus recruitment activities, aiming to hire approximately 8,000 new employees, including engineers and technicians, to support business growth and technology development [2] - The average annual salary for new graduate engineers with a master's degree is expected to reach NT$2.2 million [2] - TSMC's recruitment will cover various locations in Taiwan, including Taoyuan, Hsinchu, Miaoli, Taichung, Chiayi, Tainan, and Kaohsiung, and will target graduates from diverse fields such as electrical engineering, electronics, optics, physics, materials, chemistry, chemical engineering, mechanical engineering, computer science, and management [2] Group 2 - TSMC is also launching the 2026 DNA Summer Internship Program, inviting students in their third year or above (preferably master's and doctoral candidates) to apply, with the application deadline set for May 8, 2026 [3] - The internship program offers practical experience and career navigation, with outstanding performers having the opportunity for pre-employment in the semiconductor industry [3] - TSMC emphasizes that talent is its most important asset and is committed to providing quality job opportunities and competitive compensation, while fostering an inclusive work environment that encourages diversity [3]

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) is a leading player in the global AI infrastructure ecosystem, manufacturing chips for major AI chip designers [1] Group 1: Stock Performance - TSMC stock has gained 104% over the past year, significantly outperforming the S&P 500's 15% gain [2] - Current trading price of TSMC shares is $370, raising questions about the sustainability of this momentum and the potential to reach $500 [2] Group 2: Earnings Growth - TSMC reported a 51% increase in earnings for 2025, reaching $10.65 per share, driven by a 36% increase in revenue [4] - The company's earnings growth is attributed to strong pricing power, with expectations of a 34% increase in earnings this year [9] Group 3: Market Position - TSMC holds a 72% share in the pure-play foundry market and over a third of the Foundry 2.0 market, which includes additional services beyond traditional foundry operations [6] - The company's share of the Foundry 2.0 market increased to 39% in Q3 2025, up six percentage points from the previous year [7] Group 4: Future Projections - Analysts expect TSMC's revenue to increase by 30% this year, with AI accelerator revenue projected to grow at a mid-to-high 50% range through 2029 [11] - TSMC's earnings could reach $19.24 per share by 2028, with potential for faster growth leading to a stock price of $500 if trading at 25 times earnings [12][13]

Core Insights - Prediction markets are gaining popularity, with companies like Kalshi and Polymarket leading the way, while DraftKings and stockbrokers like Robinhood are also entering this space [1][2] - Taiwan Semiconductor Manufacturing Company (TSMC) is highlighted as a key investment opportunity, particularly as it supports the semiconductor needs of the tech industry, including prediction markets and AI applications [3][5] Company Overview - TSMC produces 60% of global semiconductor output and 90% of advanced chips required for AI programs [6] - The company holds a 72% share of the global pure foundry semiconductor market, significantly ahead of its closest competitor, Samsung [7] - TSMC is investing $165 billion to expand its manufacturing capabilities in the U.S., indicating its strategic importance in the semiconductor supply chain [8] Financial Performance - TSMC reported a net revenue of $122.4 billion for 2025, reflecting a 35.9% increase from 2024 [10] - The company's gross margin and operating margin improved to 59.9% and 50.8%, respectively, with diluted earnings per share (EPS) increasing by 46.4% year-over-year [10] - In Q4 2025, 77% of TSMC's revenue came from the production of 7-nanometer chips and smaller, essential for AI data centers [11] Revenue Segmentation - In 2025, 58% of TSMC's revenue was generated from high-power computing chip production, which includes AI, with this segment growing 48% year-over-year [12] - The company's operating cash flow increased by 24%, free cash flow by 15.2%, and cash reserves by 26.7% [10] Dividend and Growth Potential - TSMC offers a dividend yield of 0.8% with a low payout ratio of 30%, indicating potential for future dividend growth [13] - The company has consistently increased its dividend payout over the past five years, making it an attractive option for investors [13]

on 05-Mar-2026 FUTURE OF TECH 4 March 2026 Asia Tech Hardware Future of Tech - Mapping the CPO value chain Alex Wang, CFA +852 2123 2613 alex.wang@bernsteinsg.com Mark Li +852 2123 2645 mark.li@bernsteinsg.com Stacy A. Rasgon, Ph.D. +1 213 559 5917 stacy.rasgon@bernsteinsg.com Ethan Xu +852 2123 2634 ethan.xu@bernsteinsg.com Shirley Yang, CFA +852 2123 2660 shirley.yang@bernsteinsg.com Alrick Shaw +1 917 344 8454 alrick.shaw@bernsteinsg.com Arpad von Nemes +1 917 344 8461 arpad.vonnemes@bernsteinsg.com This ...

公众号记得加星标⭐️，第一时间看推送不会错过。 半导体行业正面临着结构性供应挑战，而这一挑战与先进芯片（尤其是用于人工智能、高性能计算以 及下一代移动和消费电子设备的芯片）的爆炸式需求密切相关。这场风暴的核心是2纳米制程技术， 由于其依赖于纳米片或GAA晶体管架构以及极其精密的微影工具，因此代表着半导体历史上最复 杂、最昂贵的转型之一。 英特尔18A工艺：具有竞争力的替代方案，但并非完全的缓冲 英特尔的 18A制程节点是其后 Intel 7 路线图的一部分，大致与 2nm 制程属于同一代。它引入了 RibbonFET（GAA 的一种版本）和 PowerVia 背面供电技术，旨在提升性能和能效。英特尔率先推 出了量产级 GAA 和 BSPD 技术，堪称半导体创新的巅峰之作。 英特尔于 2025 年开始量产 18A 芯片，主要面向其自家处理器，例如 Panther Lake，但与其他芯片 相比，其作为外部客户代工替代方案的应用仍然有限。尽管截至 2025 年年中，18A 的良率有所提 升，但普遍认为仍落后于台积电 N2 的良率，而且英特尔自身的代工生态系统相对于台积电庞大的全 球客户群而言仍然规模较小。 英特尔的 ...

记者｜刘雪莹 见习记者林芊蔚 编辑｜张楠 北京时间3月7日，美股三大指数集体收跌。本周美股三大股指均录得跌幅，道指累计下跌约 3%，标普500指数累跌约2%，纳指累跌1.24%。 欧洲主要股指集体收跌，德国DAX30指数跌1.21%；英国富时100指数跌1.22%；法国CAC40 指数跌0.94%；意大利富时MIB指数跌0.99%。 | 道琼斯工业 | 纳斯达克指数 | 标普500 | | --- | --- | --- | | 47501.55 | 22387.68 | 6740.02 | | -453.19 -0.95% -361.31 -1.59% -90.69 -1.33% | | | | 美国科技七巨头 中概科技龙头 | | 中国金龙 | | 61487.23 | 3737.72 | 6961.05 | | -1091.32 -1.74% +65.24 +1.78% +47.62 +0.69% | | | | 道琼斯期货 | 纳斯达克100期 | 标普500期货 | | 47480 | 24661.25 | 6740.00 | | -503 -1.05% -388.25 -1.55% -95.25 ...

Group 1 - The article discusses various covered call income strategies and highlights the effectiveness of YieldMax ETFs in capturing upside potential while being reliable for long-term investment [1] - The author emphasizes a focus on equity valuation, market trends, and portfolio optimization to identify high-growth investment opportunities [1] - The research approach combines rigorous risk management with a long-term perspective on value creation, particularly interested in macroeconomic trends and corporate earnings [1]

Investors have poured money into emerging markets in recent years as the search for big stock gains has migrated overseas and as they look for diversification beyond the concentrated S&P 500. But the U.S.-Iran military conflict has reframed the concentration question, highlighting the level of risk in emerging markets when it comes to gains being dependent on a select number of stocks, many tied to the AI boom. The iShares MSCI Emerging Markets ETF (EEM) has had strong performance over the past few years an ...

如果您希望可以时常见面，欢迎标星收藏哦~ 英特尔财务长辛斯纳（David Zinsner）4日表示，该公司对旗下18A制程技术的思维正在转向， 从原规划主要供自家用，转向探索向外部客户推销以该制程代工生产芯片的可能性。 外界认为，这代表英特尔积极抢台积电地盘再出招，要争取更多先进制程代工订单，引爆新一波 抢单大战。 英特尔原规划，其目前最新的18A制程，是以优化内部产品需求为重点，也是未来至少三个世代 客户端与伺服器产品的关键技术基础。而接下来要发展的新一代14A制程，据了解，则是从进行 开发时，就考虑到外部晶圆代工需求。 不过，辛斯纳在旧金山举行的一场科技会议中表示，英特尔执行长陈立武开始认知到18A制程技 术能够为外部客户提供服务的潜力。 英特尔18A制程主要建置于亚利桑那厂区的Fab 52新厂，采用RibbonFET环绕式闸极（GAA）电 晶体架构，并首度导入PowerVia背部供电技术，相较于Intel 3制程节点，每瓦效能提升15％，芯 片密度提高30％。英特尔指出，18A制程的良率正逐月提高。另外，英特尔先前提及，下一代 14A制程技术将于2027年进入风险试产阶段。 在美国政府、软银、辉达陆续入 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 2024年12月，初创光芯片设计公司Ayar Labs宣布完成1.55亿美元D轮融资，这轮融资的投资方名 单堪称豪华：除了领投方Advent Global Opportunities和Light Street Capital，还包括英伟达、 AMD、英特尔、格芯（GlobalFoundries）、台积电合作伙伴VentureTech Alliance、3M等产业巨 头。 而在近日，它又获得了约5亿美元的融资，投资方包括Neuberger Berman、联发科、卡塔尔投资局 等，本轮融资也让这家低调的公司估值达到了 38 亿美元。 这家成立仅十年的初创公司，究竟凭什么获得英伟达、英特尔、AMD和联发科等芯片巨头的青 睐，让它们放下分歧联手下注呢？ 从MIT实验室到硅谷独角兽 Ayar Labs的故事始于2011年，一个由麻省理工学院、加州伯克利大学和科罗拉多大学组成的跨校 研究团队。他们的研究目标很纯粹：当芯片运算能力逼近极限时，该如何突破？ 当时，摩尔定律的成功反而给计算领域带来了一个有趣的悖论——处理器大部分时间都处于空闲等 待状态。芯片依靠铜引脚传输数据，但铜的传 ...