Group 1 - A former employee of TSMC, Bernado, has filed a lawsuit against the company for retaliatory termination after assisting in a collective lawsuit against TSMC, alleging a hostile work environment and favoritism towards East Asian employees [1][3] - Bernado claims she was demoted from her HR position and ultimately fired for providing information to lawyers for the collective lawsuit, which TSMC alleges violated confidentiality agreements [3] - The lawsuit highlights issues of bullying and lack of support from management, with Bernado stating that her complaints were not taken seriously and internal investigations dismissed her claims [3] Group 2 - TSMC has faced an expanding collective lawsuit in the U.S., initially started by 13 individuals, which has grown to 17 plaintiffs by July 2025, with over 160 pages of allegations including discrimination, workplace retaliation, and safety concerns [3] - TSMC has publicly stated its pride in the Arizona team and its commitment to complying with labor laws while providing a safe and inclusive workplace [3] - The Taiwanese government has criticized TSMC's investments in the U.S., suggesting that the company is compromising Taiwan's semiconductor industry for external political gains, which has faced increasing opposition from the Taiwanese public and businesses [4]

111 中美暂停互征"港口费"一年 彭博社10日报道称，在美国政府暂停对中国造船业的调查后，中方也暂停对美国船只收取费用，并暂缓 反制相关美国公司，"表明紧张局势有所缓和"。 美国贸易代表办公室当地时间9日在一份声明中宣布，自11月10日起暂停对中国在海事、物流和造船领 域的主导地位进行301调查，为期一年。随后，中国交通运输部网站发布公告，宣布暂停对美船舶收取 船舶特别港务费、暂停开展航运业造船业及相关产业链供应链安全和发展利益受影响情况调查。公告表 示，此举是"为落实2025年中美吉隆坡经贸磋商达成共识"，相关举措与美方同步。 美国今年4月发布针对中国海事、物流及造船业301调查措施，并于10月14日起对中国企业拥有或经营的 船舶、中国籍船舶及中国造船舶加收港口服务费。中方则立即宣布反制措施。《日经亚洲》称，中美双 方暂停互征"港口费"等一系列措施"无疑是令人欣慰的举措"。其援引分析师的话称，征收这些费用可能 导致数十亿美元的损失。 报道称，美国贸易代表办公室此前还就暂停征收港口费一事征求公众意见，并表示大多数公众支持这一 举措。其在一份声明中写道："许多人指出，暂停征收港口费将降低运输成本，避免商业中断 ...

Core Viewpoint - The demand for next-generation chips from AI giants like Nvidia is pushing TSMC's N3 advanced process capacity to its limits, leading to a significant supply shortage that is expected to enhance TSMC's profit margins, potentially pushing gross margins above 60% by 2026 [1][3][9] Group 1: Capacity Constraints - TSMC's N3 advanced process capacity is nearing its maximum, with Morgan Stanley predicting a significant capacity shortfall even with efforts to optimize existing lines [1][3] - Nvidia's CEO Jensen Huang has personally requested increased chip supply from TSMC, highlighting the urgency of the situation [3] - Despite Nvidia's request to expand N3 capacity to 160,000 wafers per month, TSMC's actual capacity may only reach 140,000 to 145,000 wafers per month by the end of 2026, indicating a persistent supply-demand imbalance [3][4] Group 2: Production Strategies - TSMC is not planning to build new N3 fabs but will prioritize existing facilities for next-generation processes, with capacity increases mainly coming from line conversions at the Tainan Fab 18 [4][6] - The conversion of N4 lines to N3 may face challenges if Nvidia is allowed to ship GPUs to the Chinese market, potentially slowing down the conversion process [5] - TSMC is also utilizing cross-factory collaboration to maximize output, leveraging idle capacity from its Fab 14 to handle some backend processes for N3 [6] Group 3: Customer Demand - Major tech companies are scrambling to secure production capacity, with a diverse lineup of clients including Nvidia, Broadcom, Amazon, Meta, Apple, Qualcomm, and MediaTek [7] - The demand from cryptocurrency miners is expected to remain largely unmet in 2026 due to the pre-booking of capacity by major clients [7] Group 4: Profitability Outlook - The scarcity of capacity is translating directly into TSMC's profitability, with clients willing to pay premiums of 50% to 100% for expedited orders [8][9] - Morgan Stanley predicts that if the trend of urgent orders continues, TSMC's gross margin could reach the low to mid-60% range in the first half of 2026, exceeding current market expectations [9]

Group 1: Hong Kong Stocks - Eagle Precision (01286) increased by over 4.6%, reporting a 16.8% year-on-year revenue growth in Q3 and a 6.8% growth for the first three quarters, with a forecast of high single to double-digit sales growth for 2025 [1] - Huazhu Group-S (01179) rose by over 2.85%, with a board meeting scheduled for November 17, 2025, to review and approve the unaudited financial results for the three months ending September 30, 2025 [1] - Chongqing Machinery (02722) surged by 5.91%, with a cumulative increase of over 40% in the last four trading days, as the company actively responds to market changes and optimizes internal operations [1] - Anhui Wantu Highway (00995) increased by over 3.8%, reporting a 13.83% year-on-year growth in toll revenue for the first three quarters, driven by the completion of the Xuan-Guang Highway [1] Group 2: Other Notable Stocks - Lianlian Digital (02598) rose nearly 4.5%, showcasing its one-stop global cross-border fund solutions at the 8th China International Import Expo [2] - Yihua Tong (02402) increased by 5.44%, with the launch of a new hydrogen fuel cell heavy truck at the 2025 Tokyo Motor Show [2] - Ruipu Lanjun (00666) surged over 11.5%, driven by high demand in the energy storage sector, with major manufacturers achieving over 80% capacity utilization [2] - Federal Pharmaceutical (03933) rose by 2.8%, announcing the completion of Phase II clinical trials for its innovative drug TUL01101 in adults with moderate to severe atopic dermatitis [2] Group 3: US Market Highlights - Semiconductor stocks saw a collective rise, with Nvidia (NVDA.US) up over 5.7% and Micron Technology (MU.US) up nearly 7%, reflecting strong demand in the sector [5] - Solar energy stocks surged, with Canadian Solar (CSIQ.US) increasing over 13%, benefiting from rising global energy demand due to AI infrastructure expansion [5] - Eli Lilly (LLY.US) reached a historical high, up over 4.57%, as Goldman Sachs highlighted significant market potential due to reduced drug costs [5] - Gold stocks also saw gains, with Barrick Mining (B.US) up 5.17%, as spot gold prices rose significantly [6] Group 4: Chinese Concept Stocks - Nasdaq Golden Dragon China Index opened up 2%, with notable increases in stocks like Xpeng Motors (XPEV.US) up 16.15% and Baidu (BIDU.US) up 5.05%, amid positive developments in US government operations [7] - Major tech stocks also saw pre-market gains, with Nvidia (NVDA.US) up 5.79% and AMD (AMD.US) up 4.47%, following news of a potential end to the US government shutdown [7]

Group 1 - Nvidia CEO Jensen Huang visited TSMC's 3nm production line to discuss capacity assurance, highlighting the deep partnership between the two companies. TSMC's current monthly capacity is 100,000 wafers, with plans to increase to 160,000 wafers by 2026, primarily to supply Nvidia [2] - Intel has accused former employee Jinfeng Luo of stealing 18,000 confidential files, seeking $250,000 in damages. Luo attempted to download company data before being laid off [3] - Goldman Sachs raised BeiGene's target price to $408.79, citing a 40% year-over-year increase in product sales to $1.4 billion in Q3, driven by Brukinsa's revenue surpassing $1 billion for the first time [4] Group 2 - Chanel denied rumors of opening a new boutique in Chongqing, stating there are currently no such plans [5] - The U.S. government has issued new guidelines that may lead to visa denials for foreign applicants with diabetes or obesity, citing potential financial burdens on the public healthcare system [6] - China Mobile participated in the D-round financing of New Stone Robotics, focusing on urban logistics and autonomous vehicle development [6] Group 3 - IDC reported that China's tablet market shipped 8.49 million units in Q3 2025, a 10.9% year-over-year increase, with consumer market shipments up 12.3% despite a slowdown due to tightened subsidies [7] - Xibei has closed nearly 10 locations nationwide since October, with the company stating that the closures are part of a unified arrangement for strategic optimization [8] - Longi Green Energy's chairman stated the company is not directly involved in the silicon material sector, focusing instead on solar products and solutions [9] Group 4 - Baidu's fund has invested in Popi AI, a company developing AI animation tools, indicating a strategic move into the AI content creation space [10] - In October, the wholesale price of eggs in China dropped over 26% year-on-year, with a current price of 7.63 yuan per kilogram, reflecting a supply surplus [11] - The hotpot brand founded by singer Xue Zhiqian will close its Guangzhou location by December 15, leaving only one operational store in Shanghai [12]

芯片巨头英伟达对产能的渴求，正迫使其CEO黄仁勋亲自前往关键伙伴台积电的门口"要货"，但最新的分析表明，即使是全球最大的晶圆代工厂，其满足 市场需求的能力也已接近极限。 华尔街见闻写道，近日黄仁勋现身台积电年度运动会，并公开请求增加芯片供应。台积电CEO魏哲家亦证实收到了扩产要求。黄仁勋更是直言"没有台积 电，就没有英伟达"。市场普遍认为，黄仁勋此行的主要目的，是为英伟达下一代AI芯片（包括Rubin系列）提供充足的N3产能。 然而，据追风交易台消息，摩根大通在11月10日发布的一份研究报告中指出，尽管英伟达据报已要求台积电将N3产能扩张至每月16万片晶圆（wfpm）， 但台积电到2026年底的实际产能可能仅能达到14万至14.5万片。这一预测意味着，未来两年内，全球最先进芯片的供应缺口将持续存在。 这一供需失衡的局面预示着双重影响。一方面，依赖先进制程的芯片公司可能面临增长瓶颈；另一方面，拥有定价权的台积电则有望迎来利润率的显著提 升。摩根大通预计，供应紧张已催生出"加急单"（hot-runs），这将帮助台积电在2026年上半年的毛利率冲上60%区间的低至中段水平。 产能"极度紧张" 面对客户的迫切需求，台 ...

Market Performance - On November 10, the Shanghai Composite Index rose by 0.53% to close at 4018.60 points, while the Shenzhen Component Index increased by 0.18% to 13427.61 points. The ChiNext Index fell by 0.92% to 3178.83 points [1] - In the U.S. market, the Dow Jones Industrial Average increased by 0.81%, the Nasdaq Composite rose by 2.27%, and the S&P 500 gained 1.54%. The Philadelphia Semiconductor Index surged by 3.02% [1] Semiconductor Sector Insights - On November 10, U.S. chip stocks collectively rose, with the Philadelphia Semiconductor Index up by 3.02%. Notable gains included Micron Technology rising over 6%, Nvidia increasing over 5%, and AMD rising over 4% [2] - SanDisk saw a significant increase of 11.89%, reaching a historical high, with its stock price up over 400% year-to-date [2] AI and Cloud Investment Trends - A recent guideline was released to promote the consumption and regulation of renewable energy, emphasizing the need for synergy between renewable energy and computing power facilities [2] - North America's four major cloud providers—Google, Microsoft, Meta, and Amazon—are significantly increasing capital expenditures, totaling $96.4 billion in Q3 2025, a 67% year-on-year increase and a 9% quarter-on-quarter increase. This trend is driven by the demand for AI infrastructure [2] ETF Information - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Board Semiconductor Materials and Equipment Index, focusing on semiconductor equipment (61%) and materials (23%) [3] - The Semiconductor Materials ETF (562590) also emphasizes semiconductor equipment (61%) and materials (21%), targeting the upstream semiconductor sector [3]

Market Overview - Markets rebounded positively with the Dow increasing by 381 points (+0.81%), S&P 500 gaining 103 points (+1.54%), Nasdaq rising by 522 points (+2.27%), and Russell 2000 adding 30 points (+1.27%) [1] AI and Semiconductor Sector - Nasdaq experienced its best trading day since May, driven by chipmakers and AI infrastructure, with NVIDIA's CEO meeting Taiwan Semiconductor to discuss production increases, alleviating concerns about AI infrastructure spending [2] Government and Economic Data - Washington officials are working to re-open the government, with a focus on upcoming economic data releases including CPI, PPI, Weekly Jobless Claims, and Retail Sales, which will provide insights into economic trends [3] Q3 Earnings Reports - Paramount Global and Skydance (PSKY) reported negative earnings of -$0.12 per share, missing the consensus of +$0.46, but raised full-year revenue guidance to $30 billion from $28.74 billion [4] - CoreWeave (CRWV) reported a loss of -$0.22 per share, better than the expected -$0.39, with revenues of $1.36 billion exceeding expectations of $1.28 billion [6] - Rigetti Computing (RGTI) posted a loss of -$0.03 per share, better than the expected -$0.05, but revenues fell short at $1.9 million compared to the consensus of $2.39 million [7] Upcoming Earnings - Upcoming earnings reports include AI firm Nebius (NBIS), AngloGold Ashanti (AU), Beyond Meat (BYND), Cisco Systems (CSCO), Disney (DIS), and Applied Materials (AMAT) [8][9]

Market Overview - The US Senate made significant progress on funding issues, leading to a collective rise in major US stock indices on Monday, with the Dow Jones up 0.81%, S&P 500 up 1.54%, and Nasdaq Composite up 2.27% [1] - Market risk appetite has rebounded, with heavyweight AI stocks like Nvidia and Palantir leading the gains [1] Technology Sector Performance - Major tech stocks saw widespread gains, with Nvidia rising 5.79%, adding $265 billion (approximately 1.89 trillion RMB) to its market capitalization [3] - Other notable performers included AMD up over 4%, Google and Tesla up over 3%, and Microsoft, Amazon, and Netflix up over 1% [3] Earnings Reports - CoreWeave reported Q3 revenue of $1.36 billion, exceeding analyst expectations of $1.29 billion, with a net loss of $110.1 million, better than the anticipated loss of $299.6 million [5] - Occidental Petroleum's Q3 revenue was $6.717 billion, slightly above the market expectation of $6.679 billion [5] Chinese Stocks Performance - The Nasdaq Golden Dragon China Index rose 2.25%, with notable gains in Chinese stocks such as Xpeng Motors up over 16% and Baidu up over 5% [5] Federal Reserve Insights - Several Federal Reserve officials expressed concerns about the potential economic impact of maintaining high interest rates for too long, indicating a cooling labor market [9] - Morgan Stanley and other Wall Street firms maintain a bullish outlook on US stocks, citing strong corporate earnings growth as a driving factor for further market increases in 2026 [9] AI Sector Outlook - Analysts indicate that the "AI fundamental narrative" supporting the bull market remains intact, suggesting significant buying opportunities during market pullbacks [11] - UBS forecasts that the S&P 500 could reach a record 7,500 points by the end of 2026, reflecting an over 11% increase from current levels, driven largely by technology companies [10]

今年以来，银行开始"断舍离"，多家银行宣布关停旗下部分App，主要集中于信用卡与直销银行两个领域。 整理 ｜爆浆豆腐 点击上方【36氪随声听】，一键收听大公司热门新闻。听完音频记得添加进入 【我的小程序】 中哟！ 银行App迎来关停潮，多家银行宣布关停旗下部分App "银行App迎来关停潮"进入热搜引发网友热烈讨论。据报道，今年以来，银行开始"断舍离"，多家银行宣布关停旗下部分App，主要集中于信用卡与直销 银行两个领域。业内人士表示，早年银行推独立App是为了抢用户、冲活跃度，结果很多App下载量高、日活低，用户用完一次就再也不打开了。随着流 量红利消退，银行数字化转型进入"存量竞争"阶段。银行App的"野蛮生长"不仅造成资源浪费，还带来数据孤岛、隐私泄露、合规成本高等问题。此 外，在经济结构转型与居民消费意愿走弱的背景下，信用卡行业正步入存量收缩周期，这也带动部分银行信用卡App的关停。（财联社、中国新闻周刊） 全国多地西贝门店闭店 ，郑州三家正常营业 自10月以来，西贝多地已累计闭店近10家。11月10日，记者联系郑州三家西贝门店，工作人员称正常营业，节假日会排队。10月以来，多地网友发帖 称附近的西贝 ...