台积电市占：直逼75%

Core Insights - TSMC is projected to increase its foundry market share from 70% in 2025 to 75% in 2026, driven by strong demand for 2nm and 3nm wafers from major clients like Nvidia, AMD, and Apple [2][12] - The AI data center market is rapidly expanding, with TSMC holding nearly 100% market share in logic semiconductors for AI data centers, producing chips for major companies like Microsoft, Amazon, and Google [3][4] - TSMC's advanced process and packaging technologies are critical for meeting the growing demands of AI applications, with plans to enhance production capacity in the U.S. [6][12] Market Share and Financial Strength - TSMC's foundry market share is expected to reach 67% by Q4 2024, a 10% increase from early 2023, while Samsung holds 11% [12] - TSMC's market capitalization is close to $1 trillion, indicating a strong financial position, which is attractive to clients in the AI sector [13] Technological Leadership - TSMC is the only foundry capable of producing advanced AI data center chips, with a focus on maintaining high yield rates and production capacity [8][20] - The company has been developing multi-chip substrate packaging for several years, enhancing its ability to meet complex product demands [10] Future Outlook - TSMC is expected to dominate the advanced packaging market, with estimates suggesting it will hold 90% of the CoWoS capacity by 2026 [12] - The demand for AI accelerators is projected to grow significantly, with the total addressable market for data center AI accelerators expected to exceed $500 billion by 2028 [15] Competitive Landscape - Major cloud service providers are increasingly designing their own AI accelerators, but they remain heavily reliant on TSMC for production [16][18] - TSMC's management strength and operational efficiency are key competitive advantages, allowing it to handle complex technical challenges across multiple fabs [14][20]