Core Points - TSMC's internal leak case has prompted senior executives from Tokyo Electron to visit Taiwan in July to apologize to TSMC's COO, Qin Yongpei [1] - TSMC has initiated legal action regarding the leak, which has entered the judicial process, rendering the visit's impact negligible [1] - Tokyo Electron's Taiwan subsidiary has declined to comment on the visit, and employees have been instructed not to discuss the matter publicly [1] - Tokyo Electron stated that no evidence of leaked trade secrets to third parties has been found, but further details cannot be provided due to the ongoing judicial review [1] - The leak involved TSMC's 2nm process technology, which was allegedly accessed by a Tokyo Electron engineer who previously worked in TSMC's system integration department and is currently in custody [1]

Core Viewpoint - Jinglin Asset Management Hong Kong Company disclosed its US stock holdings as of the end of Q2 2025, showing a total market value of $2.874 billion, a decrease of approximately 11% from the previous quarter's $3.228 billion [1][2]. Holdings Summary - The company held 28 securities in the US market, with the top 10 holdings accounting for 88.19% of the total portfolio value, indicating an increase in concentration compared to the previous quarter [2][3]. - Meta Platforms remains the largest holding, with a market value of $731.70 million, representing 25.46% of the total portfolio [3][4]. - New purchases included Nvidia, Atour, and Huazhu Group, while the company sold out of Apple and several pharmaceutical giants [6][7]. Trading Activity - In Q2, Jinglin made 3 new purchases, added to 7 existing positions, sold out of 6 stocks, and reduced holdings in 13 stocks [2][5]. - Significant increases in holdings were noted for Nvidia (new position), Manbang Group, and Qifu Technology, while reductions were seen in NetEase, Pinduoduo, and TSMC [4][5][7]. Investment Strategy - The company is focusing on Chinese assets, particularly in emerging industries, and aims to identify companies with strong business models and robust free cash flow [1][8]. - Jinglin Asset Management expressed that the valuation recovery of Chinese assets may be at a midpoint, emphasizing the need for skillful identification of new investment opportunities [8].

【导读】景林香港公司 2025 年二季度末美股持仓曝光 中国基金报记者 吴君 私募巨头景林资产的海外子公司景林资产管理香港有限公司（以下简称景林香港公司）， 8 月 8 日晚间向美国证券交易委员会（ SEC ）提交了截至 2025 年二季度末的美股持仓数 据。 根据 13F 文件，截至 2025 年 6 月 30 日，景林香港公司二季度末在美股市场持有 28 只证 券，合计持仓总市值为 28.74 亿美元，较一季度末的 32.28 亿美元减少约 11% 。 脸书母公司 Meta 仍为该公司美股第一大重仓股，二季度其新买进了英伟达、亚朵、华住集 团，加仓了满帮集团、奇富科技、谷歌母公司 Alphabet 等；但清仓了苹果公司及多家医药巨 头，减持了网易、台积电、禾赛科技等。 记者从渠道获悉，目前景林资产主要重仓中国资产，大部分仓位在港股，其看好新兴行业机 会，认为接下来要努力挖掘商业模式好、自由现金流强劲的企业。 | Market Value | $2.87b, Prior: $3.23b | | --- | --- | | Inflows (Outflows) as % of Total MV | (-24. ...

全球AI产业周报 为你精选过去一周（8.2-8.8）最值得关注的AI新闻和 国内外热门AI投融资事件 ，帮助大家及时了解 全球AI市场动向。 本周AI热点资讯 国内大事 2025世界机器人大会开幕 百余款新品首发 8月8日消息，为期5天的2025世界机器人大会今天在北京开幕。大会吸引了200余家国内外优秀机器 人企业参展，其中人形机器人整机企业数量创下全球同类展会之最。大会设置"产业发展""创新应 用""技术融合"三大篇章，超400位国内外顶尖科学家、国际组织代表、院士和企业家将聚焦机器人 领域产业趋势、应用实践、创新成果展开交流分享。博览会设置创新馆、应用馆、技术馆三大展馆， 50家人形机器人整机企业参展，数量创同类展会之最。中国电子学会理事长徐晓兰表示，本届大会 以"让机器人更智慧，让具身体更智能"为主题，得到28家国际机构支持，来自全球近20个国家的1万 余名选手参赛，共有200余家企业的1500余件产品参展，其中首发新品100余款。 (央视新闻) 北京人形机器人产业规模约占全国1/3 8月8日消息，2025世界机器人大会8月8日在北京经济技术开发区北人亦创国际会展中心开幕。记者 获悉，目前，北京市机器 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容来自彭博 中国台湾正在调查台积电（TSMC）芯⽚技术可能遭窃⼀案，这让⼀家在⽇本⻓期低调、鲜为⼈知的 科技关键企业TEL（Tokyo Electron Ltd.），陷⼊了前所未有的关注之中。 检⽅逮捕的六名涉嫌窃取全球最⼤代⼯芯⽚制造商商业机密的⼈⼠中，有⼀⼈曾是TEL的员⼯。如 今，这家全球最⼤芯⽚制造设备供应商之⼀，正努⼒应对来⾃其最重要客⼾之⼀，以及来政府的潜在 压⼒。 TEL表⽰，已解雇其台北⼦公司⼀名涉案员⼯，并正配合正在进⾏的调查。尽管该公司股价周五收回 了部分本周的跌幅，但⾃TSMC事件曝光以来，累计跌幅仍超过4%。 TEL员⼯的被捕，引发外界质疑：为何该员⼯会卷⼊此类事件？是否有动机窃取TSMC商业机密？此 案是否与⽇本⾃⾝发展本⼟芯⽚产业的雄⼼有关？ "TEL以这样的⽅式成为焦点，感觉更像是⼀场不幸的意外。"早稻⽥⼤学教授⼩佐内敦（Atsushi Osanai）表⽰。 半导体⾏业资深⼈⼠表⽰，他们看不到TEL会参与知识产权盗窃、并冒着与TSMC关系破裂⻛险的理 由。TSMC是英伟达（Nvidia Corp.）和苹果公司（Apple I ...

Core Viewpoint - The demand for Chiplet architecture is increasing due to advancements in cloud computing, high-performance computing (HPC), and artificial intelligence (AI), alongside rising technical challenges and costs in semiconductor design and manufacturing [1][3]. Group 1: UCIe Alliance and Standards - The Universal Chiplet Interconnect Express (UCIe) Alliance was established in 2022 by major semiconductor companies and cloud service providers to create standardized interconnect specifications for Chiplets, enhancing flexibility, efficiency, and customization [1]. - UCIe 3.0 was recently launched, featuring enhancements in power efficiency and management while maintaining backward compatibility, and it supports data rates of 48 GT/s and 64 GT/s, doubling the bandwidth of the previous UCIe 2.0 [3][5]. Group 2: Performance and Applications - The performance improvements in UCIe 3.0 are particularly aimed at meeting the "insatiable demand for high bandwidth" in rapidly expanding fields such as AI, HPC, and data analytics, where interconnect boundary lengths are limited [3][5]. - The new data rates apply to both UCIe-S (2D standard packaging) and UCIe-A (2.5D advanced packaging) designs, addressing the need for higher throughput within constrained interconnect boundaries [5][9]. Group 3: Technical Specifications - UCIe 3.0 introduces new data rates of 48 GT/s and 64 GT/s, with specific characteristics for UCIe-S and UCIe-A, including bandwidth density and power efficiency targets [9]. - The standard maintains backward compatibility to ensure seamless integration with existing systems and infrastructure, allowing for a smooth transition for system designers and developers [7][9]. Group 4: Broader Implications - The Chiplet architecture is becoming ubiquitous across various sectors, including mobile devices, PCs, and automotive applications, with UCIe expected to cover a complete computing continuum from handheld devices to data centers [10]. - UCIe 3.0 also includes improvements such as runtime recalibration for low-power link tuning and more flexible Session Initiation Protocol (SIP) topologies, enhancing its applicability in new interconnect scenarios [10].

Core Viewpoint - Intel's board chairman Frank Yeary attempted to split and potentially sell Intel's foundry business to TSMC earlier this year, facing strong opposition from newly appointed CEO Lip-Bu Tan, leading to internal conflicts within the board [2][3]. Group 1: Board Dynamics - The internal conflict within Intel's board arose as some directors supported Yeary's plan, resulting in failures of some strategic initiatives proposed by CEO Tan [2]. - Despite the board's official support for Tan, his leadership is under increasing pressure both internally and externally [2]. Group 2: Proposed Business Moves - There were rumors that Intel planned to spin off its foundry division into an independent company, potentially involving TSMC and other major fabless chip designers as shareholders [3]. - Another rumor suggested that Intel might sell all or part of its foundry to TSMC, which would gain operational and strategic control over the production facilities [3]. Group 3: Technical and Business Feasibility - TSMC has publicly stated that it has no interest in acquiring Intel's foundry or manufacturing assets due to technical challenges and business reasons [5]. - TSMC's employees lack experience with Intel's EUV-based processes, complicating any potential improvements to Intel's manufacturing technology [5]. - The complexity of transferring TSMC's technology to Intel's U.S. foundries is high, as both companies use different tools and processes, which could lead to significant costs and risks [5]. Group 4: Competitive Landscape - TSMC has little incentive to assist a direct competitor in enhancing its chip production capabilities and is not interested in investing billions in a foundry without assurance of profitability [6]. - Intel's EUV capacity in the U.S. is insufficient to meet the demands of both its own and TSMC's customers [6].

Core Viewpoint - The article discusses President Trump's announcement of a potential 100% tariff on imported semiconductors, which could disrupt the international supply chain and lead to increased costs for domestic semiconductor and electronic products. The announcement also includes incentives for companies like Apple to invest in domestic production to avoid tariffs [2][4]. Group 1: Semiconductor Industry Impact - The semiconductor industry relies on international division of labor, with production processes spread across various countries. A 100% tariff could significantly increase the costs of semiconductor products in the U.S. [2][6]. - The U.S. Semiconductor Industry Association (SIA) predicts that by 2030, the U.S. share of semiconductor manufacturing capacity will drop to 13%, leading to greater reliance on imports [6]. - Companies like Nvidia and TSMC are already making investments in the U.S. to mitigate the impact of tariffs, with Nvidia planning to produce up to $500 billion worth of products domestically over the next four years [6][5]. Group 2: Corporate Responses and Strategies - Apple has indicated that it could avoid tariffs by producing domestically, suggesting a strategic move to align with Trump's policies [4]. - TSMC's investment in the U.S. is seen as a potential shield against tariffs, as the company has already committed to increasing its investment to $165 billion [5]. - Existing investment plans from companies like Samsung and SK Hynix may also be scrutinized for tariff exemptions, highlighting the complexity of determining tariff liabilities based on production locations [7]. Group 3: Future Developments and Negotiations - The article notes that the specifics of the tariff implementation are still pending, with Trump expected to provide more details soon [9]. - The U.S. government is employing a strategy of initially proposing strict measures before negotiating, which may lead to ongoing discussions with semiconductor companies regarding investment and tariff exemptions [9].

Count D, what's your final trade. >> Taiwan semi. Look, year to date ending July up 36%. They just reported today July year-over-year up 26%.I know it was up 5% yesterday. Should be up 5% every day. Scott.>> All right. Thank you, Weiss for not taking all the time. Kevin Simpson, >> TJ Maxx, we talked about retail was earlier.Their off-pric model thrives with the value seeking consumer. >> Wind resort sees demand good in the fourth quarter in 2026. Five price targets today alone.>> The consumer. Wow, how ins ...

闹得沸沸扬扬的台积电2纳米泄密风波，再度引起全球对于目前半导体最先进制程的关注度。 但是，三星并未因此放弃2纳米研发。TrendForce研报指出，为了追赶台积电，三星计划2026年上半年 启动2纳米量产，虽然由于初期良率略低于台积电，但正通过优化工艺与改良设备加速改善。 而就在上周，马斯克确认，三星近日与特斯拉签订了约165亿美元供应协议，用于后者AI加速芯片制 造。这一消息也让市场对于三星的信心有了一定增强。 8月5日，晶圆代工巨头台积电对外宣布，公司2纳米芯片工艺相关机密涉嫌泄露，目前已解雇相关涉案 员工，同时正式启动法律程序应对可能的商业机密外泄事件。 而此次风波的主角，2纳米制程工艺的进展也再度为外界关注。作为目前全球半导体最先进的技术企业 之一，台积电方面年初曾透露，2纳米工艺将于今年下半年进入量产阶段，并被用于苹果旗舰新品 iPhone18系列中的A20芯片。今年5月，台积电联席副COO张晓强表示，2纳米制程进展"非常顺利"，纳 米片转换表现已达目标90%，良率超过80%。 CHIP中国实验室主任罗国昭告诉《中国经营报》记者，根据半导体业内标准，一般良率达到60%以 上，即具备量产条件。而台积电 ...