Core Insights - Nvidia CEO Jensen Huang praised Taiwan Semiconductor Manufacturing Co. (TSMC) during his visit to Taiwan, suggesting that investing in TSMC would be a wise decision [1][2] - Huang's visit aimed to express gratitude to TSMC for their collaboration on Nvidia's next-generation AI chip platform, Rubin [2] - The U.S. administration is exploring equity stakes in tech companies, particularly those receiving funding under the CHIPS Act, which includes TSMC [1][3] Company Developments - TSMC is developing six new products for Nvidia, including a new central processing unit (CPU) and a general processing unit (GPU) focused on advanced AI computations [3] - The CHIPS Act, enacted in 2022, aims to bolster U.S. semiconductor manufacturing, with TSMC set to receive $6.6 billion to establish three advanced chip fabrication plants in Arizona [4]

英伟达(NVDA.O)CEO黄仁勋：台积电邀请我向他们的领导层发表演讲。我可能会谈谈多年来行业是如 何变化的。我们已完成六款全新芯片的流片生产。我将主要专注于我们共同的未来。我将前往新竹与台 积电管理人员会面。台积电将继续实现令人难以置信的增长。任何购买台积电股票的人都非常明智。 本文源自：金融界AI电报 ...

Group 1 - The U.S. government is considering acquiring stakes in companies that received funding from the 2022 CHIPS Act, excluding larger semiconductor firms that are expanding investments in the U.S. [1] - U.S. Secretary of Commerce Howard Lutnick confirmed negotiations with Intel, aiming for a 10% equity stake in the struggling semiconductor company [1] - Concerns have risen among industry executives that the U.S. government may also seek stakes in major chip manufacturers like TSMC, Micron Technology, and Samsung [1] Group 2 - If the U.S. government demands to become a shareholder, TSMC may consider returning subsidies, with preliminary discussions already held among TSMC executives regarding this proposal [1]

英伟达CEO黄仁勋：台积电是人类历史上最伟大的公司之一，是一项非常值得投资的业务。我只会在台湾停留几个小时，这次访问台积电，将洽谈Rubin芯片的生产事宜。🗒️根据英伟达的路线图，将会在2026年推Rubin，2027年推Rubin Ultra。 https://t.co/A7y9WsDNd7 ...

华尔街日报：特朗普政府并不打算入股台积电和美光科技等正在增加美国投资的公司，但可能会入股其他公司。台积电高管曾考虑，若美国政府要求入股，将归还芯片法案的资金。外汇交易员 (@myfxtrader):路透：除英特尔以外，卢特尼克正在探索美国如何通过《芯片法案》资金换取美光、台积电和三星等公司的股权。 ...

Core Viewpoint - The U.S. government is considering adjusting the funding subsidy method of the CHIPS Act to acquire equity stakes in semiconductor companies like Intel and TSMC, which raises concerns about government intervention in the market [1][2]. Group 1: Government Intervention - The chairman of Hon Hai Precision Industry, Terry Gou, advocates for minimal government intervention, suggesting that companies like TSMC, Intel, and Samsung should be allowed to face full market competition to enhance their competitiveness [2]. - Gou references former U.S. President Reagan's quote, emphasizing that expecting government to solve problems can lead to issues, likening excessive government intervention to a planned economy [1]. Group 2: Academic and Research Concerns - Gou expresses disapproval of the U.S. government's cuts to university funding and restrictions on academic research freedom, warning that this could lead to a decline in national strength in the future [1]. - He argues that the government should focus on providing infrastructure, legal regulations, and management frameworks to foster a more dynamic environment for businesses and innovators [1].

Group 1 - Major stock indices futures are experiencing declines, with Dow futures down 0.23%, S&P 500 futures down 0.09%, and Nasdaq futures down 0.02% [1] - Chinese concept stocks are mostly rising, with notable increases such as Xiaopeng Motors up 1.08%, NIO up 2.95%, Boss Zhipin up 3.26%, and Miniso up 5.56% [2] - Target's CEO Brian Cornell will step down on February 1, after 11 years of leadership, due to poor sales performance, with COO Michael Fiddelke set to take over [2][3] Group 2 - OpenAI's CFO Sarah Friar stated that the company is still facing a shortage of computing power, leading to increased demand for GPUs, resulting in a rise in chip stocks like Nvidia up 0.4%, AMD up 0.72%, and TSMC up 0.32% [2] - Meta has paused hiring in its AI department after recruiting over 50 researchers and engineers, raising concerns about the impact on shareholder capital returns due to rising stock compensation [3] - Novo Nordisk has implemented a hiring freeze for non-critical positions globally and is considering layoffs to save costs [3] Group 3 - Delta Airlines confirmed that a Boeing 737 aircraft experienced wing damage during a flight, with no injuries reported among the 62 passengers and 6 crew members [3] - Johnson & Johnson announced a $2 billion investment in North Carolina to build a new factory, aimed at expanding its production capabilities in the U.S. to avoid potential drug import tariffs [4]

Group 1 - Dow futures fell by 0.23%, S&P 500 futures decreased by 0.09%, and Nasdaq futures dropped by 0.02% [1] - Chinese concept stocks mostly rose, with Xiaopeng Motors up 1.08%, NIO up 2.95%, Boss Zhipin up 3.26%, and Miniso up 5.56% [1] - Target's CEO Brian Cornell will step down on February 1 after 11 years due to poor sales performance, with COO Michael Fiddelke taking over [1] - Target has seen sales flat or declining in 9 out of the last 11 quarters, and its stock fell by 0.37% [1] Group 2 - OpenAI's CFO Sarah Friar stated that the company still faces a shortage of computing power, leading to increased demand for GPUs, resulting in a rise in chip stocks [1] - Nvidia rose by 0.4%, AMD increased by 0.72%, and TSMC went up by 0.32% [1] Group 3 - Meta has paused hiring in its AI department after recruiting over 50 researchers and engineers, raising concerns about its ability to return capital to shareholders [2] - Meta's stock fell by 0.21% [2] - Novo Nordisk announced a hiring freeze for non-critical positions globally and is considering layoffs to cut costs [2] - Novo Nordisk's stock rose by 0.24% [2] Group 4 - Delta Airlines confirmed that a Boeing 737 aircraft suffered wing damage during a flight, but no injuries were reported among the 62 passengers and 6 crew members [2] - The aircraft has been grounded for repairs, and the FAA is investigating the incident [2] - Delta's stock fell by 0.08%, while Boeing's stock decreased by 0.27% [2] Group 5 - Johnson & Johnson announced a $2 billion investment in North Carolina to build a new factory, aimed at expanding its production in the U.S. to avoid potential drug import tariffs [3] - Johnson & Johnson's stock fell by 0.29% [3]

1. Taiwan Semiconductor Manufacturing At first glance, a chipmaker like Taiwan Semiconductor Manufacturing (TSM -1.71%) might not seem like an AI company, but it's just as important to the technology as virtually any other company you can name. TSMC, as it's also known, is at the source of the AI pipeline, producing the chips that power some of the most crucial components. When you think of companies like Nvidia, which designs the graphics processing units (GPUs) and accelerators for the data centers that m ...

Core Viewpoint - The emergence of CoWoP technology by Nvidia is seen as a potential disruptor to TSMC's CoWoS technology, which has been dominant in advanced packaging for AI chips. The industry is debating whether CoWoP is merely a temporary trend or a significant shift in semiconductor packaging [1][3]. Summary by Sections CoWoP vs CoWoS - CoWoP (Chip on Wafer on PCB) integrates the packaging substrate with PCB, allowing for a thinner, lighter, and higher bandwidth module design compared to CoWoS (Chip-on-Wafer-on-Substrate). This integration reduces material and manufacturing costs while accelerating production timelines [2][3]. Market Impact - The introduction of CoWoP has sparked discussions about its potential to replace CoWoS and has raised questions about the future of TSMC's CoPoS (Chip-on-Panel-on-Substrate) technology, which is designed to address CoWoS's production bottlenecks [3][4]. Advantages of CoWoP - CoWoP offers several advantages, including simplified system architecture, improved thermal management, reduced substrate costs, and potentially fewer backend testing steps. It aims to solve issues like substrate warping and enhance NVLink coverage without additional substrate layers [4][5]. Challenges and Risks - Despite its potential, CoWoP faces significant challenges in commercial viability, particularly in scaling up for high-capacity GPUs. The transition from existing technologies to CoWoP involves risks, especially given TSMC's current high yield rates with CoWoS [6][7]. Industry Sentiment - PCB manufacturers express skepticism about CoWoP's ability to replace CoWoS in the short term, citing the need for substantial advancements across the entire supply chain. They believe that existing technologies remain adequate and that the transition to CoWoP will take considerable time [7][8].