台积电巨亏！三星美国厂几乎注定会亏！

Core Viewpoint - The article discusses the challenges faced by semiconductor companies, particularly TSMC and Samsung, in establishing and operating factories in the United States, highlighting significant financial losses and operational hurdles [3][5][6]. Group 1: TSMC's Financial Struggles - TSMC's U.S. factory has accumulated losses exceeding 39.4 billion yuan over four years, raising concerns about the long-term profitability of overseas operations [3]. - Despite TSMC's factory operating at full capacity, high labor costs and additional large-scale facility investments continue to erode profitability [3]. Group 2: Samsung's Dilemma - Samsung's semiconductor division is expected to face significant losses as it has not yet attracted major clients, with its Texas factory nearing completion but still hesitating on equipment orders [5]. - The company has stated that the Texas factory will begin operations in 2026, but market conditions and order forecasts suggest lower-than-expected sales [5]. - The U.S. government plans to impose at least a 25% tariff on semiconductors, which could lead to substantial costs for Samsung, particularly regarding the expensive EUV lithography equipment [5]. Group 3: Industry-Wide Concerns - Other South Korean companies, such as SK Hynix, are also pursuing U.S. factory projects and must focus on cost efficiency amid rising supply chain risks and potential cuts to semiconductor subsidies from the U.S. government [6]. - The possibility of significant losses similar to those experienced by TSMC is increasing for these companies due to the challenging economic environment [6].