HBM，三星制定新目标

Core Viewpoint - Samsung Electronics is facing significant challenges in its semiconductor business, particularly in the memory and system semiconductor sectors, with the success of the next-generation HBM (High Bandwidth Memory) commercialization being crucial for its performance [2][4]. Group 1: Semiconductor Business Strategy - Samsung Electronics is planning its semiconductor business strategy for the second half of the year, with a global strategy meeting scheduled to address the performance of various business units and discuss strategies to cope with macroeconomic uncertainties [2]. - The meeting will focus on overcoming the current downturn in the semiconductor business, which is divided into three main pillars: DRAM and NAND memory semiconductors, foundry services, and system LSI [2]. Group 2: Memory Business Challenges - The success of Samsung's memory semiconductor business in the second half of the year largely depends on the commercialization of HBM, which is essential for AI data centers [4]. - Samsung failed to deliver HBM3E products to its major client NVIDIA last year, prompting a redesign of the DRAM used in HBM3E and a renewed effort to supply NVIDIA [4]. - The company aims to start mass production of the next-generation 1c DRAM and HBM4 by the end of the year, with expectations of obtaining production approval in the third quarter [4][5]. Group 3: Foundry Business and Market Position - Samsung's foundry division is struggling to attract major clients like Apple, NVIDIA, and Qualcomm in the 3nm and smaller process nodes, leading to a decline in market share from 8.1% to 7.7% in Q1 [6]. - TSMC continues to lead in the foundry market, with plans to enter mass production of 2nm technology, while Samsung is in discussions with potential clients for its own 2nm process [6][8]. - Samsung is investing $37 billion in a new foundry in Taylor, Texas, but faces pressure to expand domestic investments due to U.S. government policies [8][9]. Group 4: Investment and Operational Challenges - The construction of the new foundry in Texas is progressing, with the first factory nearly completed, but Samsung must navigate the complexities of U.S. investment regulations and market demand [8]. - The company is cautious about expanding capacity at the Taylor facility without ensuring long-term customer demand, which could lead to significant financial risks [9].