Core Viewpoint - TSMC's stock surged 3.4% to $330 per share, reaching a historic high with a market capitalization of $1.7 trillion, driven by advancements in its 2nm process technology [1] Group 1: Company Developments - TSMC's official website indicates that the 2nm process technology began mass production as scheduled in Q4 of last year, representing the most advanced technology in the semiconductor field in terms of transistor density and energy efficiency, significantly enhancing chip performance [1] - Initial production capacity for TSMC's 2nm advanced process is approximately 35,000 wafers per month, with expectations to increase to 140,000 wafers per month by the end of this year, surpassing previous market estimates of 100,000 wafers per month [1]

高通涨1%，公司推出了完整的机器人技术套件。 台积电涨3.2%，高盛上调目标价35%。 美股三大指数集体高开，道琼斯指数涨0.26%，标普500指数涨0.61%，纳斯达克综合指数涨0.92%。 纳斯达克中国金龙指数跌超1%，海天网络跌7.08%，小鹏汽车跌4.50%，百度跌3.89%，网易跌3.64%， 蔚来跌3.44%。 大型科技股方面，超威半导体涨4.58%，英伟达涨2.08%，特斯拉涨1.89%，谷歌a涨1.06%。 美国石油股走强，雪佛龙涨6%。 ...

Group 1 - U.S. oil stocks are rising collectively, while copper prices have reached a new high of $13,000, and both gold and silver prices are increasing amid turmoil in Venezuela [1] - China's December RatingDog services PMI remains at 52, indicating continued expansion, but new export orders have fallen back into contraction [1] - The Federal Reserve's Kashkari notes a significant cooling in the job market, suggesting interest rates are nearing neutral levels [1] Group 2 - Vietnam's GDP grew by 8.46% year-on-year in the fourth quarter, driven by rapid growth in the manufacturing sector [2] - Goldman Sachs has significantly raised its target price for TSMC, leading to a nearly 3% pre-market increase in TSMC's U.S. stock, with the Taiwanese stock market experiencing its largest gain in eight months [3] - Hon Hai's Q4 sales increased by 22%, exceeding expectations, with a remarkable 31.8% increase in December alone [4] Group 3 - Due to surging demand for AI, Samsung and SK Hynix plan to raise DRAM prices by 60% to 70% [5] - Samsung aims to double the number of mobile devices equipped with Gemini to 800 million units, intensifying competition with Apple [6] - Zhiyuan Robotics expects to exceed 5,100 units in shipments by 2025, with projections for "tens of thousands" of units in 2026 [8] Group 4 - MiniMax is likely to set its IPO price at the high end of the guidance range and may end the subscription period early [9] - The Nikkei 225 index rose by 3%, while the Shanghai Composite Index increased by 1.38%, and the Hang Seng Index saw a slight rise of 0.03% [10]

Core Insights - The total market capitalization of the top 100 listed companies in China reached 74.81 trillion yuan by the end of 2025, marking a nearly 25% increase from 60 trillion yuan at the end of the previous year [1] - The threshold for entry into the list rose to 193.6 billion yuan, a year-on-year increase of 19.88% [1] Industry Distribution - The financial sector remains dominant with 27 companies, totaling a market cap of 21.31 trillion yuan, accounting for nearly 30% of the total [1] - Other sectors include non-durable consumer goods with 16 companies, information technology with 13, industrial with 12, and telecommunications services with 8 [1] - Compared to the previous year, the materials, information technology, industrial, and healthcare sectors added 4, 3, 2, and 1 new companies respectively, while financial and consumer goods sectors saw a decrease of 3 companies each [1] New Entrants and Rankings - Four new companies made the list: Zijin Mining International, Moore Threads, Huadian New Energy, and Muxi Co., with Moore Threads and Muxi Co. being newly listed in December [3] - A total of 25 companies improved their rankings by more than 10 positions, with notable increases in AI-related sectors [3] - The largest gain was seen by Shenghong Technology, which surged 439 positions due to its involvement in the PCB supply chain for NVIDIA [3] Market Capitalization Trends - The number of companies with market caps between 500 billion and 1 trillion yuan increased by 1 to 17, while those between 300 billion and 500 billion yuan rose by 7 to 24 [5] - 17 companies surpassed a market cap of 1 trillion yuan, an increase of 4 from the previous year, including China Ping An, Industrial Fulian, China Merchants Bank, and Pinduoduo [5] - The top 10 companies collectively accounted for 34.4 trillion yuan, representing 46% of the total market cap, an increase of nearly 2 percentage points from the previous year [5] Notable Companies - TSMC maintained its top position with a market cap of 11.08 trillion yuan, a 50.5% increase from 7.36 trillion yuan [7] - Tencent ranked second with a market cap of 4.93 trillion yuan, while Alibaba rose to fifth with 2.46 trillion yuan [8] - CATL, now ranked eighth with a market cap of 2.08 trillion yuan, replaced Kweichow Moutai in the top ten [5][7] - CATL has been the global leader in electric vehicle battery installation for eight consecutive years, with a 36.6% year-on-year increase in installation volume [5] Summary of Rankings - The top companies by market cap include TSMC, Tencent, Industrial and Commercial Bank of China, Agricultural Bank of China, and Alibaba [8] - Other notable companies in the top rankings include China Mobile, CATL, China Petroleum, and Bank of China [8][9]

Core Insights - SGA's Global Growth Strategy portfolio experienced a return of -2.3% (Gross) and -2.5% (Net) in Q3, underperforming against the MSCI ACWI's 7.6% and MSCI ACWI Growth's 9.0% returns, primarily due to a lack of alignment with the current market enthusiasm for AI [1] - The investment objective of SGA is to focus on high-quality growth businesses that are expected to achieve consistent mid-teens earnings growth, along with stable revenue and cash flow [1] Company Highlights - Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was highlighted as a key stock in SGA's third-quarter investor letter, with a one-month return of 5.88% and a 52-week gain of 45.27% [2] - As of January 2, 2026, TSMC's stock closed at $319.61 per share, with a market capitalization of $1.658 trillion [2] - TSMC contributed positively to the portfolio performance in Q3, with management raising fiscal year 2025 revenue growth guidance to 30% year-over-year, driven by strong demand for advanced semiconductor manufacturing [3] - TSMC's leadership in technology and manufacturing at leading-edge nodes allows it to maintain pricing power and deliver high margins, with recent results exceeding expectations due to Taiwan dollar appreciation and U.S. market openings [3] - TSMC is currently the sole provider for all leading-edge AI and smartphone manufacturing, a position that is strengthening as competitors like Intel pull back, allowing TSMC to maintain good margins despite significant investments in geographical diversification [3]

Oil Industry - Crude oil prices are largely unchanged as traders assess the U.S. operation that ousted Nicolás Maduro from Venezuela, which may lead to a potential restoration of oil production in the country [3][4] - Goldman Sachs analysts suggest that any rebound in Venezuelan oil output will be limited and slow due to years of underinvestment and deteriorating infrastructure, requiring strong incentives to attract capital [4] - The prospect of increased Venezuelan oil supply adds downside risks for global crude prices beyond 2027, especially in conjunction with production growth in Russia and the U.S. [5] Semiconductor Industry - Taiwan Semiconductor Manufacturing Company (TSMC) shares surged 3% in premarket trading after a 5% increase on Friday, reaching a new record high following a 35% price target increase by Goldman Sachs to NT$2,330 [7] - Goldman Sachs views AI as a multi-year growth engine for TSMC, projecting improved profit margins and a planned investment of $150 billion over the next three years to increase capacity [8] Technology and Consumer Electronics - Samsung Electronics plans to double the number of mobile devices powered by Google's Gemini AI from 400 million to 800 million by 2026, with a focus on applying AI across all products and services [9] - The co-CEO of Samsung acknowledged the impact of the global memory chip shortage on mobile phones and consumer electronics, indicating potential price hikes while working on long-term strategies to mitigate the effects [10]

Oil Market - Crude oil prices are largely unchanged in early trading, with analysts suggesting that the U.S. operation in Venezuela, which removed President Nicolás Maduro, may lead to a potential increase in Venezuelan oil production, adding long-term downward pressure on global crude prices [3][5] - Goldman Sachs analysts predict that any rebound in Venezuelan oil output will be limited and slow due to years of underinvestment and deteriorating infrastructure, maintaining their 2026 oil price outlook at $56 per barrel for Brent crude and $52 for West Texas Intermediate [4][5] - Major oil companies such as Halliburton, SLB, Chevron, ConocoPhillips, and Valero have seen significant premarket gains, with Halliburton and SLB up 8%, and Chevron up 7% [6] Semiconductor Industry - Taiwan Semiconductor Manufacturing Company (TSMC) shares rose 3% in premarket trading after a 5% increase on Friday, following a 35% price target increase by Goldman Sachs to NT$2,330, driven by expectations of solid growth [7] - Goldman Sachs views AI as a multi-year growth engine for TSMC, projecting the company will invest $150 billion over the next three years to increase capacity [8] Technology Sector - Samsung Electronics plans to double the number of mobile devices powered by Google's Gemini AI from 400 million to 800 million by 2026, with a focus on applying AI across all products and services [9] - The co-CEO of Samsung acknowledged the global shortage of memory chips affecting mobile phones and consumer electronics, indicating potential price hikes while working on long-term strategies to mitigate the impact [10]

1月5日周一，台积电股价一度飙升6.9%，创下去年4月以来最大单日涨幅，股价亦创新高，推动台股加权指数突破30000点关口。这一涨势发生在 高盛将该公司目标价上调35%至新台币2330元之后，进一步强化了市场对人工智能相关需求长期增长的信心。 高盛分析师Bruce Lu在报告中指出，台积电未来三年预计将投入约1500亿美元用于产能扩张，同时其利润率仍在持续改善。该行强调，人工智能 已成为驱动台积电"未来多年增长的引擎"。 台积电的领涨效应带动亚洲科技板块整体走强。韩国三星电子涨超7%，SK海力士同步走强涨近3%，两大存储巨头的强势表现直接提振了市场情 绪，韩国首尔综指收涨3.43％，创收盘历史新高。尽管部分投资者对行业短期波动仍保持谨慎，半导体板块成为今日亚洲市场最主要的推动力。 中国台湾证交所加权指数收盘上涨2.6%，报30105.04点，连续第三个交易日走高，并创下自去年11月20日以来最大单日涨幅。 台积电引领中国台股创新高 台积电成为拉动中国台股加权指数上涨的最主要动力。在今日交易的1050支股票中，仅有246支收涨，下跌个股达741支；28个行业板块中仅11个 板块上涨，半导体板块作为领涨力量引领市 ...

Group 1 - A bullish note from Goldman Sachs analysts positively impacted shares of Taiwan Semiconductor Manufacturing Co. [1]

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 1月5日消息，据台媒报道，英伟达CEO 黄仁勋将于本月赴台并参加英伟达台湾地区年会，并邀请"英伟达生态系"合作伙伴再现"兆元（即万亿元新台 币）"宴。 据悉，包括台积电董事长魏哲家、鸿海董事长刘扬伟、广达董事长林百里及副董事长梁次震、纬创董事长林宪铭、纬颖董事长兼首席战略官洪丽宁、和硕 集团董事长童子贤、仁宝董事长陈瑞聪等企业高管，将成为"兆元宴"的座上客。 第二步：在公众号里面回复"加群"，按照提示操作即可。 爆料｜投稿｜合作｜社群 文章内容整理自网络，如有侵权请联系沟通 据此前报道，黄仁勋已经于去年 11 月访问台积电，提出了对更先进 AI 芯片的迫切需求，而这一举动直接引爆了台积电的新一轮建厂热潮。 消息称台积电为了确保明年能有更多新产能上线，已紧急敦促上游设备供应商缩短交货时间。这一"催单"效应直接导致供应链进入"战时状态"，预计相关 设备厂商的高强度出货将至少持续到 2026 年第二季度。 ***************END*************** 半导体公众号推荐 半导体论坛百万 ...