3 6 Ke·2025-11-20 01:42Core Insights - The rapid development of AI chips is driving the demand for high-performance computing (HPC) components such as GPUs, AI ASICs, and HBM, with advanced packaging technologies like 2.5D/3D becoming crucial in the semiconductor industry [1][3] - Intel's advanced packaging technology EMIB is being evaluated by major tech companies like Apple and Qualcomm, indicating a potential shift in the competitive landscape as these companies consider alternatives to TSMC [1][11] - The advanced packaging market is projected to grow significantly, with revenues expected to exceed $12 billion by Q2 2025 and reach approximately $45 billion by 2024, growing at a compound annual growth rate (CAGR) of 9.4% to around $80 billion by 2030 [3] Advanced Packaging Landscape - TSMC, Intel, and Samsung have established a competitive "three-horse race" in the advanced packaging sector, each playing different roles in the supply chain [3][20] - TSMC's CoWoS technology has become the de facto standard for high-bandwidth packaging, but it faces capacity constraints primarily due to Nvidia's significant demand [7][8] - Intel's EMIB technology offers flexibility and cost advantages, making it suitable for custom ASICs and AI inference chips, positioning it as a viable alternative to TSMC's offerings [11][15] Market Dynamics - The demand for advanced packaging is driven by the strong growth in AI and HPC sectors, with TSMC planning to expand its CoWoS capacity by over 20% by the end of 2026 [8][24] - Samsung's advanced packaging technologies, I-Cube and X-Cube, are designed to leverage its HBM supply chain, aiming to enhance its influence in the AI chip market [20][23] - The competition in AI chip manufacturing is no longer limited to packaging technologies but encompasses computational architecture, supply chain security, capital expenditure, and ecosystem integration [24]