Core Insights - TSMC shareholders have experienced significant volatility in share prices, primarily due to rising trade protectionism and uncertainties surrounding the sustainability of AI capital expenditures [1] Group 1: Market Conditions - Concerns over escalating trade protectionism have negatively impacted TSMC's stock performance [1] - Questions regarding the sustainability of AI capital expenditure have contributed to the decline in TSMC shares [1] Group 2: Investment Perspective - The focus is on identifying market asymmetries that offer a positive reward-to-risk ratio, particularly in high-quality, wide-moat companies that generate strong cash flow [1]

Group 1 - Samsung Electronics' foundry division has secured orders for 7nm and 8nm processes from AI chip design companies, including Nintendo, improving capacity utilization [1] - Samsung's 3nm process is facing challenges, with a yield rate around 50%, while TSMC has achieved over 90% yield, raising concerns about Samsung's competitiveness in advanced processes [1][2] - Major clients like Google are shifting from Samsung's 3nm process to TSMC, indicating a loss of trust in Samsung's foundry capabilities due to yield issues [2] Group 2 - Apple, Qualcomm, NVIDIA, and MediaTek are adopting TSMC's third-generation 3nm process, with plans to transition to 2nm starting in 2026 [2] - The semiconductor industry emphasizes the importance of trust between foundries and clients, and Samsung's yield problems have led to skepticism about its foundry business [2]

Group 1: European Technology Initiatives - The European Commission plans to establish a public-private partnership fund of at least €10 billion (approximately $11.3 billion) to help technology companies scale up, aiming to close the innovation gap with the US and China [4] - The strategy "Choose Europe: From Startups to Scaleups" was launched to address the challenges faced by startups in the EU, including regulatory fragmentation across 27 member states and difficulties in accessing financing, markets, talent, and infrastructure [4] Group 2: AI Developments - DeepSeek has released an open-source version of its R1 model, which reportedly performs comparably to OpenAI's latest o3 model [5] - Telegram has entered a one-year partnership with xAI to integrate Grok into its application, with Telegram receiving $300 million in cash and equity, plus 50% of subscription revenue from xAI [6] - Tencent has launched and open-sourced its voice digital human model, HunyuanVideo-Avatar, aimed at video creators [8] - Amazon Web Services and SAP have initiated a new AI joint innovation program to help partners build generative AI applications [9][10] - Salesforce plans to acquire Informatica for approximately $8 billion to enhance its competitive edge in the AI market [11] - AI infrastructure startup Chalk has completed a $50 million Series A funding round, achieving a valuation of $500 million [12] Group 3: Semiconductor Industry - The US is reportedly set to ban the export of semiconductor design software to China, affecting major companies that dominate the Electronic Design Automation (EDA) market [14][15] - The EU is exploring new paths for chip industry development, aiming to double its global semiconductor production share to at least 20% by 2030 [16][18] - TSMC plans to establish a chip design center in Munich, Germany, to support European customers in designing high-density, high-performance chips [40] Group 4: Energy and Mining - China Petroleum & Chemical Corporation (Sinopec) has established a hydrogen energy industry chain venture capital fund to promote innovation and development in the hydrogen sector [56] - Harmony Gold has agreed to acquire MAC Copper for $1.03 billion to expand its operations in Australia, focusing on a high-grade copper mine [57]

Group 1 - TSMC's stock closed at $196.14, reflecting a decrease of -0.78% from the previous day, underperforming compared to the S&P 500, Dow, and Nasdaq indices [1] - Over the last month, TSMC's shares have increased by 20.18%, outperforming the Computer and Technology sector's gain of 11.21% and the S&P 500's gain of 7.37% [1] Group 2 - TSMC is expected to report an EPS of $2.29, which represents a 54.73% increase from the same quarter last year, with projected revenue of $29.66 billion, reflecting a 42.47% rise [2] - For the annual period, the consensus estimates anticipate earnings of $9.19 per share and revenue of $115.46 billion, indicating increases of +30.54% and +28.17% respectively from the previous year [3] Group 3 - Recent modifications to analyst estimates for TSMC indicate shifting business dynamics, with positive revisions suggesting an optimistic outlook for the company [4] - Changes in estimates are believed to correlate with upcoming stock price performance, and the Zacks Rank system provides an actionable rating based on these changes [5] Group 4 - TSMC currently holds a Zacks Rank of 3 (Hold), with a consensus EPS projection that has increased by 2.07% in the past 30 days [6] - The company has a Forward P/E ratio of 21.51, which aligns with the industry average, and a PEG ratio of 1.03, consistent with the Semiconductor - Circuit Foundry industry's average [7] Group 5 - The Semiconductor - Circuit Foundry industry ranks in the top 37% of all industries, with a Zacks Industry Rank of 90, indicating strong performance potential [8]

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自中时新闻网 。 荷兰阿斯麦（ASML）全新机台却让台积电望之却步！英媒指出，尽管艾司摩尔最新一代的高数值 孔径（High-NA）极紫外光（EUV）微影设备性能强大，但因这款机台单价高达4亿美元（约新台 币120亿元），台积电高层表示，目前「找不到非用不可的理由」，因此暂时没有计划在A14及其 后续制程中导入。 路透27日报导，这款先进机台价格逼近4亿美元，几乎是晶圆厂现有最昂贵设备的两倍。目前，各 家芯片制造商正在仔细评估，这款设备在曝光速度以及解析度上面的提升，是否真的符合如此高昂 的价格。 台积电技术开发资深副总经理张晓强表示，即便不使用High-NA EUV设备，A14制程仍能实现显 著的技术升级。 「因此，我们的技术团队将持续专注于微缩（scaling）效益的开发，并致力于延 长现有Low-NA EUV（低数值孔径极紫外光）微影设备的使用寿命。」 张晓强坦言：「只要我们能持续找到替代方案，就没有必要采用这款昂贵的设备。」事实上，早在 去年，张晓强就曾公开表示，他对High-NA EUV技术抱持肯定态度，但对其价格感到却步。 相较之下，台积电竞争对 ...

IT之家 5 月 28 日消息，台积电呼吁美国商务部豁免芯片进口关税，警告加征关税可能削弱其 1650 亿美元（IT之家注：现汇率约合 1.19 万亿元人民币）亚 利桑那州扩建计划，并威胁美国在半导体产业的领导地位。 今年 3 月，台积电宣布在亚利桑那州追加 1000 亿美元（现汇率约合 7192.28 亿元人民币）投资，计划再建三座晶圆厂、两座先进封装厂和一个研发中心， 总投资额累计 1650 亿美元（现汇率约合 1.19 万亿元人民币）。 台积电表示，终端产品因关税导致价格上涨将抑制芯片需求，从而削弱亚利桑那州产业集群的经济价值。该公司要求"在美国拥有重大半导体产能"的企业继 续享有进口海外设备和材料的免税通道，因其中许多物资在美国本土无法获取。 据台积电提交的文件披露，当六座晶圆厂全部投产后，亚利桑那州基地每月可生产 10 万片晶圆，约占台积电 2nm 及更先进制程预计产能的 30%。该公司还 预估其美国项目将带动 2000 亿美元（现汇率约合 1.44 万亿元人民币）的间接经济活动，创造数万个就业岗位。文件强调，这些经济收益的实现有赖于可预 期的免税供应链体系。 IT之家注意到，台积电在亚利桑那州凤凰 ...

Group 1: Aerospace and Electronics - Harbin Institute of Technology has developed high-reliability aerospace electrical appliances, achieving international leading levels in key technical indicators, with product lifespan increased from 20,000 to 200,000 cycles and performance consistency improved by 36% [1] - The aerospace electrical appliances include relays, contactors, connectors, circuit breakers, and switches, which are essential components in complex aerospace control systems [1] Group 2: Semiconductor Industry - BOE Technology Group has launched its 6th generation new semiconductor display device production line in Beijing, with a total investment of 29 billion yuan and a designed monthly production capacity of 50,000 pieces [2] - The production line focuses on high-end products such as VR display panels and automotive display panels, with several products already in the customer sampling and delivery phase [2] - TSMC announced a collaboration with US startup Avicena to produce MicroLED-based optical communication interconnect products, aiming to meet the high communication demands between GPUs with low cost and high energy efficiency [3] Group 3: Semiconductor Development in India - Indian Prime Minister Modi announced that the first domestically manufactured chip will roll off the production line in a semiconductor factory located in northeastern India, marking a significant step in India's semiconductor ambitions [4] - This development is expected to enhance the strategic importance of the northeastern region in the high-tech industry landscape [4]

Core Viewpoint - TSMC is establishing its first design center in Europe, located in Munich, focusing on automotive applications and aiming for significant advancements in memory technology [1][2]. Group 1: TSMC's Strategic Shift - TSMC's new design center represents a strategic shift from solely chip manufacturing to providing design services, addressing the lack of advanced design expertise in Europe [1][2]. - The European Design Center (EUDC) is expected to support TSMC's €10 billion investment in the European Semiconductor Manufacturing Company (ESMC) located in Dresden, which TSMC operates with a 70% stake [1][2]. Group 2: Focus Areas and Technology Development - The design center will focus on high-density, high-performance, and energy-efficient chips, particularly in automotive, industrial, AI, and IoT applications [1][2]. - TSMC plans to introduce 5nm MRAM and 6nm RRAM technologies, which are critical for automotive applications and AI chip memory expansion [4][5]. Group 3: Market Projections and Future Plans - By 2030, the automotive sector is projected to account for 15% of a $1 trillion market, surpassing IoT's 10% share, with data centers and AI driving significant growth [6]. - TSMC's N3 technology is expected to achieve high yield and long-term operation, with over 70 new wafers anticipated by April 2025 [5][6].

Core Viewpoint - TSMC's advanced CoWoS packaging plant in Chiayi has halted construction following a worker injury incident, with the company voluntarily suspending work until safety improvements are reviewed and approved [1] Group 1 - The construction site experienced a worker casualty on May 26, prompting immediate action from TSMC [1] - TSMC has stated that the site is currently within the scope of delivery contracting, and all related engineering work has been paused [1] - The occupational safety department has mandated TSMC to stop work and submit a plan for resuming operations, which will be reviewed in a subsequent meeting before any restart can be confirmed [1]

Core Insights - Quantum eMotion Corp. has successfully completed and validated its first-generation Quantum Random Number Generator (QRNG) chip design, which is now in fabrication with TSMC [1][2] - The QRNG chip utilizes quantum electron tunneling to produce random bits at speeds exceeding 1 Gbit/sec, making it suitable for cybersecurity applications [3][4] - The global QRNG chip market is projected to grow from approximately USD 150 million in 2024 to USD 2 billion by 2033, with a CAGR of 34.5% from 2026 to 2033 [5] Company Developments - The finalized QRNG chip design has passed all simulations and lab tests, confirming its capability for high-speed random number generation [2] - The chip integrates an ultra-low-noise wideband amplifier and a high-precision analog-to-digital converter, validated by academic teams [3] - The company aims to enhance digital security against emerging quantum threats through its patented QRNG technology [5][6] Market Potential - The QRNG chip is targeted at various sectors, including Financial Services, Healthcare, Blockchain Applications, and Cloud-Based IT Security Infrastructure [8] - The increasing demand for affordable hardware and software security solutions for connected devices positions Quantum eMotion as a pioneering force in the cybersecurity market [6]