TSMC(US:TSM) Sou Hu Cai Jing·2026-01-16 02:43Group 1 - The semiconductor equipment ETF (159516) has seen significant inflows, with over 2 billion shares flowing in during the trading session and a net inflow exceeding 5 billion yuan over the past 20 trading days, reaching a total scale of over 15 billion yuan by January 15, 2026, making it the largest in its category [2] - Two main reasons contribute to the strong performance of the semiconductor equipment ETF: the expansion of advanced process production and rising storage prices. Advanced process production involves techniques like chip stacking to achieve production of chips equivalent to 7nm and 5nm, despite current limitations in direct mass production [2] - Rising storage prices lead to increased production efforts by manufacturers, which in turn drives demand for critical equipment such as etching and thin-film deposition tools essential for high-performance storage chips [2] Group 2 - TSMC's performance has exceeded expectations, reigniting enthusiasm for AI, as it remains a key player in the global computing power supply chain, with major companies like Nvidia and Broadcom relying on TSMC for manufacturing and testing [3] - TSMC's expansion pace surpasses expectations, indicating a growth in North American AI demand, while the global storage industry is entering an expansion cycle, benefiting domestic storage companies from rising prices [3] - According to CITIC Securities, TSMC is expected to achieve record earnings in 2025, with a significant increase in capital expenditures in 2026, highlighting the ongoing benefits from AI computing power and advanced processes [3]