来 源： 内容来自工商时报 较新的 2 纳米制程可以继续利用台积电现有的 EUV 光刻机进行量产，并提高良率。但随着这家台湾 半导体巨头向 1.4 纳米和 1 纳米（也称为 A14 和 A10）等 2 纳米以下节点迈进，它将面临制造方面 的障碍。现在，通过购买 ASML 先进的高数值孔径 EUV 光刻机可以轻松解决这个问题，但一份新 报告指出，台积电将不再购买 ASML 光刻机，而是转向光掩模薄膜。 2纳米晶圆预计将于2025年底全面投产，之后台积电将最终过渡到1.4纳米节点。该公司已为 迈向先 进制程奠定了基础，预计将于2028年左右开始量产。台积电初期投资高达1.5万亿新台币（约合490 亿美元），目前正以闪电般的速度推进，在新竹工厂启动1.4纳米制程的研发，并购置了30台EUV光 刻机。 然而，台积电拒绝采取的一项举措是购买ASML高数值孔径EUV光刻机，单台售价4亿美元。然而， 这台设备将确保以更高的良率可靠地生产1.4纳米和1纳米晶圆。该公司可能认为，这台设备的价值与 其实际价值不符，因此，据Dan Nystedt和《商业时报》报道，台积电正在转向光掩模防护膜。亚2纳 米工艺必须使用防护膜，以防止灰 ...

特斯拉CEO马斯克今日在电话会议上透露，台积电、三星将参与特斯拉人工智能5号芯片（AI 5）的设 计工作。"我们不会取代英伟达"。AI5芯片被用来驱动自动驾驶及机器人产品线。此前他曾表示，AI5芯 片性能是AI4的40倍，算力提升8倍，内存增加9倍。（一财科技） 微信编辑 | 龙王 ...

（文章来源：第一财经） 特斯拉CEO马斯克今日在电话会议上透露，台积电、三星将参与特斯拉人工智能5号芯片（AI 5）的设 计工作。"我们不会取代英伟达"。AI5芯片被用来驱动自动驾驶及机器人产品线。此前他曾表示，AI5芯 片性能是AI4的40倍，算力提升8倍，内存增加9倍。 ...

Core Insights - Tesla's CEO Elon Musk announced that Samsung Electronics will play a larger role in the production of Tesla's automotive chips, indicating Samsung's entry into a market previously dominated by TSMC [1] - Musk clarified that both TSMC and Samsung will focus on the AI5 chip project, which is Tesla's current generation artificial intelligence chip [1] Group 1 - Samsung is set to share manufacturing responsibilities for Tesla's AI5 chip, expanding its involvement in the automotive semiconductor market [1] - The AI5 chip was initially expected to be produced solely by TSMC, highlighting a shift in Tesla's supply chain strategy [1] - Musk emphasized the importance of collaboration between TSMC and Samsung for the AI5 project during the third-quarter earnings call [1]

Group 1 - The article discusses the evolution of semiconductor processes, highlighting the dual-track competition between advanced and mature processes, with significant implications for global technology competition [2][3]. - The price of chips generally increases as the process node decreases, with current 3nm chips priced around 20,000 yuan per piece, expected to rise to over 30,000 yuan for 2nm chips by 2026 [5][6]. - Different companies adopt varied strategies regarding process technology, with Apple focusing on a gradual transition, Nvidia prioritizing cost-performance balance, and Qualcomm and MediaTek actively pursuing next-generation processes [7][8]. Group 2 - TSMC plays a crucial role in defining industry trends, with projected 3nm chip production reaching 200,000 pieces next year and 2nm production lines entering risk production soon [9][10]. - The investment required for advanced production lines is substantial, with a 2nm line costing around $10 billion, significantly higher than previous nodes [11]. - Key technological challenges include advancements in lithography, architecture transitions, and design-technology co-optimization (DTCO), which are essential for the successful implementation of advanced processes [12][13]. Group 3 - The global semiconductor landscape shows TSMC leading, while Samsung and Intel face distinct challenges, such as Samsung's aggressive equipment procurement strategy leading to higher costs and Intel's financial struggles impacting its advanced process ambitions [18][21]. - The equipment market is competitive, particularly in the etching sector, where Lam Research and Tokyo Electron dominate, with Tokyo Electron having a unique advantage with its clean track equipment [22][23]. Group 4 - The competition in semiconductors is characterized by a dual-track system, with advanced processes led by TSMC and Samsung, while mature processes (28nm and above) present opportunities and challenges for Chinese manufacturers [24][25]. - Chinese companies like SMIC have made significant progress in mature processes, achieving a 95% yield in 28nm technology, but still face challenges such as higher production costs and reliance on foreign equipment [25][26]. - The future of semiconductor technology is expected to continue evolving, with advancements below 2nm anticipated, driven by innovations in materials and processes [27][28].

Group 1 - U.S. chip stocks experienced a broad decline on Wednesday, with Intel (INTC.US) and AMD (AMD.US) dropping over 4% [1] - Micron Technology (MU.US) fell by more than 3%, while TSMC (TSM.US) and NVIDIA (NVDA.US) saw declines of over 1% [1]

以下文章来源于36氪财经 ，作者范亮 张帆 36氪财经 . 36氪旗下官方账号。洞见市场，比99%的投资者更聪明。 市场低估了台积电的长期风险。 文 ｜ 范亮 编辑 ｜ 张帆 来源｜ 36氪财经（ID:krfinance） 封面来源 ｜ IC Photo 2025年以来，在算力芯片利好频出、iPhone 17销量预期增加、2纳米制程量产开启三重利好叠加之下，台积电股价持续突破新高，年内累计涨幅超50%，市 值更是突破1.5万亿美元大关。 最大的助力来自于业绩的强劲增长。最新的财报数据显示，2025年三季度，台积电营收增速同比增长30.3%，超过彭博一致预期2.8个百分点，净利率为 45.7%，超过彭博一致预期3.6个百分点，对应净利润金额则超过彭博一致预期10%。 但2025年，情况出现了边际变化，一是英特尔对标台积电2nm工艺的18A工艺，将在2025年下半年启动量产；二是美国政府有意扶持英特尔的芯片代工业 务。 那么，英特尔是否能对台积电产生威胁，市场是否忽略了台积电的同业竞争风险？ 但股价高歌猛进之下，市场似乎选择性地忽略了台积电的一个潜在的长期风险，即英特尔的冲击。 此前《 特朗普"国有化"后，英特尔 ...

中新社北京10月22日电 (张晓曦 黄欣欣)国务院台办发言人朱凤莲22日在北京表示，民进党当局无底线 媚美跪美，对美国的巧取豪夺一再妥协退让，先是台积电，然后是整个产业链，终将是割肉饲虎、欲壑 难填。 当天的国台办例行新闻发布会上，有记者问，台湾地区副领导人萧美琴近日称，不仅是台积电，从供应 商到设计商乃至其他芯片制造公司，都将与英特尔等美国公司合作，提升其生产力，发言人有何评论？ 朱凤莲作上述回应。 有外媒报道，台积电的美国亚利桑那州工厂的稀土库存仅够维持30天，若无法获得大陆稀土供应，产能 将瘫痪。对此，朱凤莲指出，主管部门此前已经就稀土出口管制事项明确表态。 她表示，半导体产业作为台湾的优势产业，本可以通过加强两岸合作实现更好发展，现在却被民进党当 局作为谋取政治私利的筹码被不断"献祭"。与大陆相向而行，深化两岸融合发展、携手共同抵御外部风 险挑战，才是正道。 朱凤莲还指出，正在召开的中共二十届四中全会将对未来五年国民经济和社会发展作出顶层设计和战略 擘画，也必将为包括台企在内的各类市场主体提供更加广阔的发展空间和宝贵的发展机遇。我们将持续 释放政策红利，稳步扩大规则、规制、管理、标准等制度型开放，助力 ...

Core Viewpoint - The report highlights the strong demand for AI computing power and storage, which has led to TSMC's revenue exceeding expectations, despite a general decline in market risk appetite [3]. Market Performance - In the past week, the Shanghai Composite Index fell by 1.47%, while the electronics sector dropped by 7.14%. Sub-sectors such as optical optoelectronics and consumer electronics saw declines of 6.23% and 9.10%, respectively [3]. - The Hang Seng Tech Index decreased by 7.98%, while the Philadelphia Semiconductor Index and Taiwan Information Technology Index increased by 5.78% and 0.27%, respectively [3]. Earnings Season Insights - As the third quarter of 2025 earnings season approaches, there is a noted decline in market risk appetite due to previously high consensus on AI themes and significant upward revisions in earnings forecasts for leading companies. This, combined with ongoing US-China tariff disputes, has led to increased volatility in the tech sector during the earnings verification period [3]. - TSMC's recent earnings call indicated that AI demand remains strong and has exceeded prior expectations [3].

Core Viewpoint - The intensifying US-China tech rivalry is shifting from chip restrictions to a strategic competition over rare earth resources [1][3] Group 1: Company Impact - Micron Technology plans to exit the Chinese data center server chip business, following Nvidia's similar move, highlighting the escalation of the US-China tech conflict [2][3] - Micron's revenue from mainland China was approximately $3.4 billion, accounting for 12% of its total global revenue [5] - The exit is seen as a business adjustment, but it is significantly influenced by China's new rare earth export regulations [6] Group 2: Industry Implications - China's Ministry of Commerce has implemented strict controls on rare earth exports, requiring approval for any products containing Chinese rare earth materials or technologies [6] - This policy affects not only rare earth materials but also processing equipment, technical personnel, and the entire supply chain, impacting the global chip industry [6] - TSMC is particularly vulnerable due to its reliance on heavy rare earth materials for its advanced 3nm process technology, which could lead to a rapid decline in production yield if supply is restricted [7] - ASML, a Dutch lithography giant, is also affected as its EUV lithography machines depend heavily on rare earth materials sourced from China [9] Group 3: Global Supply Chain Dynamics - China controls 90% of the global rare earth refining capacity, while Western countries lag in rare earth development and technology [9] - The rare earth resources have become a key leverage point for China in the US-China tech war, as the US attempts to cut off China's chip development through technology restrictions [9][13] - The G7 finance ministers reached a consensus on reducing dependence on Chinese rare earths, but achieving this goal in the short term is challenging due to the complexity of refining technologies [10][11] - Countries like Australia and the US are trying to accelerate rare earth resource development, but effective production capacity is unlikely to materialize quickly [12] Group 4: Future Outlook - Micron's exit is a microcosm of the broader US-China tech conflict, with the escalation of rare earth policies reshaping the global tech supply chain [13] - China is transitioning from a "role player" in the supply chain to a dominant force capable of altering the rules of global tech competition [13] - The deepening of rare earth policies will complicate the trajectory of the US-China tech war and lead to profound changes in the global tech industry [13]