Core Insights - The semiconductor industry is increasingly seeking alternative solutions due to the ongoing tight capacity for advanced packaging at TSMC, with Marvell and MediaTek evaluating the integration of Intel's EMIB technology into their ASIC chip designs [2][4]. Group 1: Industry Challenges - TSMC faces dual challenges: the inability to rapidly expand its advanced packaging capacity in the short term and the demand from U.S. clients for localizing the entire supply chain, which TSMC's U.S. backend capacity is not yet fully equipped to meet [4]. Group 2: Technological Developments - Intel's EMIB technology, which utilizes a 2.5D packaging architecture, is gaining attention for its unique advantages in heterogeneous chip integration [4]. - Recent job postings from leading companies like Apple, Qualcomm, and Broadcom explicitly mention EMIB-related positions, indicating a proactive approach to talent acquisition in the advanced packaging sector [4]. - Intel's newly launched 3.5D packaging technology achieves higher chip interconnect density through more precise silicon vias, further enhancing its competitive edge [4]. Group 3: Market Dynamics - The embedded bridge solution used in EMIB offers advantages in cost control and yield improvement compared to traditional intermediary layer designs, making it a key focus as advanced process evolution slows down [4]. - The shift of multiple companies towards the EMIB solution not only reflects current supply chain adaptation strategies but may also reshape the competitive landscape of the semiconductor packaging industry [4].

Taiwanese newspapers reported last week that Lo Wen-jen was alleged to have taken proprietary knowledge from TSMC just before his departure https://t.co/TQw1gH3hSe ...

Taiwan Semiconductor Manufacturing Co said on Tuesday it had filed a lawsuit in the Intellectual Property and Commercial Court against its former Senior Vice President Wei-Jen Lo, who recently joined ... ...

Core Viewpoint - Intel's stock price dropped by 1.23% to $35.35 in pre-market trading following a lawsuit filed by TSMC against former senior vice president Luo Wei-ren, who is accused of potentially leaking TSMC's trade secrets to Intel [1]. Group 1: Company Performance - Intel's closing price on November 24 was $35.79, reflecting an increase of 3.74% [1]. - The pre-market price on November 25 was $35.35, indicating a decrease of $0.44 [1]. - The stock reached a high of $36.155 and a low of $34.685 during the trading session [1]. - The trading volume was 104 million shares, with a total transaction value of $3.709 billion [1]. - Intel's market capitalization stands at $170.718 billion [1]. Group 2: Financial Metrics - The price-to-earnings (P/E) ratio is reported at 596.50, indicating a loss [1]. - The price-to-book (P/B) ratio is 1.604 [1]. - The stock has a 52-week high of $42.480 and a low of $17.665 [1].

Group 1 - The semiconductor industry index rose by 0.23% as of November 25, 2025, with notable increases in individual stocks such as ShenGong Co. (up 13.18%) and ChangChuan Technology (up 3.55%) [1] - The semiconductor industry ETF (159582) increased by 0.15%, with a latest price of 2.01 yuan, and has seen a cumulative rise of 11.85% over the past three months [1] - TSMC plans to build three additional 2nm fabs in Taiwan to meet the surging demand for AI chips, with an estimated total investment of 900 billion NTD [1] Group 2 - Tianfeng Securities highlights that edge AI chips are evolving towards "high energy efficiency architecture + scenario-based customization + global ecosystem," with advancements in in-memory computing and software toolchains [2] - The semiconductor industry ETF closely tracks the CSI Semiconductor Industry Index, which includes up to 40 companies involved in semiconductor materials, equipment, and applications [2] - As of October 31, 2025, the top ten weighted stocks in the CSI Semiconductor Industry Index accounted for 78.04% of the index, including companies like Zhongwei Company and North Huachuang [2]

Core Insights - The demand for AI HPC (High-Performance Computing) is driving the need for advanced packaging solutions, particularly TSMC's CoWoS technology, but some cloud service providers (CSPs) are considering Intel's EMIB technology due to increasing chip integration requirements and packaging area demands [1][2]. Group 1: Technology Comparison - TSMC's CoWoS solution connects different functional chips using an interposer, while Intel's EMIB simplifies the structure by embedding silicon bridges directly into the substrate, resulting in higher yield rates [3][7]. - EMIB technology has advantages over CoWoS in terms of thermal expansion coefficient (CTE) issues, as it has a lower silicon ratio and fewer contact areas, reducing the risk of warping and reliability challenges [3][7]. Group 2: Market Dynamics - The current market for advanced packaging is facing capacity shortages and high costs associated with CoWoS, leading companies like Google and Meta to explore Intel's EMIB solutions [2][8]. - Intel's EMIB technology is expected to support larger die sizes and provide cost-effective solutions by eliminating the expensive interposer layer, making it attractive for AI customers [7][8]. Group 3: Future Prospects - EMIB is projected to achieve significant advancements in mask size, with EMIB-M already providing 6x mask size and expected to reach up to 12x by 2027, while CoWoS technologies are limited to lower mask sizes [4][7]. - Intel's Foundry Services (IFS) has been developing EMIB technology since 2021, and with major clients like Google and Meta showing interest, this could lead to substantial growth for IFS [8].

Core Insights - The article discusses the increasing demand for AI HPC (High-Performance Computing) and the shift from TSMC's CoWoS solution to Intel's EMIB technology by cloud service providers (CSPs) due to capacity shortages and cost considerations [2][3][4]. Group 1: Technology Comparison - TSMC's CoWoS solution connects different functional chips using an interposer, while Intel's EMIB simplifies the structure by embedding silicon bridges directly into the substrate, leading to higher yield rates [4][6]. - EMIB technology has advantages such as a lower coefficient of thermal expansion (CTE) issue, which reduces the risk of warping and reliability challenges compared to CoWoS [4][6]. - EMIB can achieve larger die sizes, with EMIB-M supporting up to 6 times the mask size, while CoWoS-L is expected to reach 9 times by 2027 [6]. Group 2: Market Dynamics - The demand for CoWoS is facing challenges such as capacity shortages and high costs, leading CSPs like Google and Meta to explore Intel's EMIB solutions [3][7]. - Intel's EMIB technology is being adopted in its server CPU platforms, and companies like Google and Meta are considering it for their products, indicating a potential shift in market dynamics [7][8]. - NVIDIA and AMD, which require high bandwidth and low latency, are likely to continue using CoWoS as their primary packaging solution [7].

Core Viewpoint - TSMC's CEO, C.C. Wei, indicated that the current production capacity is approximately three times short of demand based on major clients' product plans and growth expectations, highlighting the strong demand for wafers that is difficult to meet [1][5]. Group 1: Demand and Capacity - The demand for advanced process technology driven by AI is rapidly increasing, with Wei stating that the advanced process capacity is "not enough, not enough, still not enough" [3]. - TSMC's current production capacity is about three times less than what is needed according to the product planning and growth expectations of major clients [5]. - Wei humorously mentioned wanting to wear a "No more wafer" T-shirt, emphasizing the overwhelming wafer demand [5]. Group 2: Recognition and Achievements - Wei and former chairman Liu Deyin received the Robert Noyce Award from the American Semiconductor Industry Association, marking the second time TSMC leaders have been honored since founder Morris Chang in 2008 [3][4]. - The award signifies global recognition of TSMC's long-term contributions to advanced processes, advanced packaging, and manufacturing ecosystems [5]. - TSMC has successfully transitioned through multiple technology nodes, from 7nm to the upcoming 2nm, and is accelerating factory construction in the U.S., Japan, and Europe, establishing a foundation for the AI era [5]. Group 3: Industry Impact - The award ceremony, attended by key figures in the semiconductor industry, underscored TSMC's critical role in the AI chip supply chain [4]. - U.S. Commerce Secretary Howard Lutnick acknowledged TSMC's leadership as transformative for global technology advancement [4].

Core Insights - TSMC's CEO, C.C. Wei, stated that the demand for advanced process capacity is "not enough, not enough, still not enough," indicating that current capacity is approximately three times short of what is needed based on major clients' product plans and growth expectations [1][2] - TSMC has been recognized with the Robert Noyce Award, highlighting its significant contributions to advanced processes, packaging, and manufacturing ecosystems over the years [2] Group 1 - The demand for AI-driven advanced processes has exceeded expectations, with TSMC's current capacity falling short by about three times according to major clients' forecasts [2] - TSMC has successfully transitioned through multiple technology nodes, including 7nm, 5nm, 3nm, and is set to begin mass production of 2nm, establishing a robust global manufacturing footprint essential for the AI era [2] - The award received by TSMC's leadership symbolizes the company's pivotal role in the global supply chain amid rising AI computing demands [1][2]

Core Viewpoint - The competition in the semiconductor foundry market is intensifying as companies like Samsung and Intel challenge TSMC's dominance in 2nm technology, with significant investments and advancements in production capabilities being reported [1][2][3]. Group 1: TSMC's Expansion Plans - TSMC is planning to invest in three additional 2nm fabs in Taiwan due to surging demand for AI chips, with an estimated total investment of NT$900 billion (approximately US$30 billion) [1][2]. - The company has already begun mass production of 2nm chips and anticipates rapid growth in capacity, with the 2nm family expected to significantly contribute to its operations [2][3]. - TSMC's chairman emphasized that the demand for advanced processes driven by AI customers exceeds current production capacity by three times [3]. Group 2: Intel's Progress - Intel announced a monthly improvement of 7% in the yield of its 18A process, which has been ongoing for 7-8 months, positioning it to mass-produce the Panther Lake processor without increasing costs [5][6]. - The company is set to unveil its first product based on the 18A process at CES 2026, indicating strong confidence in its technology [6]. - Intel has received substantial support from Nvidia and the U.S. government, which has acquired a 10% stake in the company, aiding its recovery efforts [6]. Group 3: Samsung's Developments - Samsung's 2nm process yield has reportedly improved to 55-60%, with plans to double its production capacity by the end of next year [8][9]. - The company aims to achieve profitability within two years by enhancing its 2nm process yield and establishing long-term relationships with lucrative clients [9]. - Samsung's first 2nm SoC, the Exynos 2600, is expected to validate its advanced manufacturing capabilities, particularly in the challenging sub-10nm processes [8][9]. Group 4: Rapidus' Ambitions - Rapidus, backed by the Japanese government, plans to invest ¥100 billion (approximately US$700 million) to develop 2nm technology, with a goal of mass production by the second half of the 2027 fiscal year [10][11]. - The company aims to achieve positive cash flow by 2029 and is collaborating with major partners like IBM to enhance its technological capabilities [11][12]. - Rapidus is targeting a significant market gap in the 2nm semiconductor supply, with plans to focus on custom semiconductors for AI data centers and expand into automotive and robotics sectors [12].