台积电2nm芯片即将涨价

Core Viewpoint - TSMC reported strong financial results for Q3, with significant revenue growth driven by high demand in the HPC sector and advanced process technologies, despite some challenges from currency fluctuations and overseas operations [1][5]. Financial Performance - TSMC achieved Q3 revenue of $33.1 billion, a year-on-year increase of 40.8% and a quarter-on-quarter increase of 10.1% [2]. - Gross margin reached 59.5%, exceeding the previous guidance of 55.5%-57.5% [1][2]. - Operating margin was 50.6%, surpassing the guidance of 45.5%-47.5% [1][2]. - Net income attributable to shareholders was NT$452.3 billion, reflecting a 39.1% year-on-year increase [2]. Market Segments - The HPC segment has become a crucial revenue driver, increasing its contribution from 51% in the previous year to 57%-60% in recent quarters [2][5]. - Revenue from smartphones rose by 19% quarter-on-quarter, while the automotive market showed signs of recovery with an 18% increase [10][13]. Technology and Pricing - TSMC's 3nm and 5nm processes accounted for 60% of total revenue, up from 52% a year ago [5][6]. - The company is considering price increases for its 2nm process technology, expected to be about 20% higher than the 3nm pricing [7][8]. Future Outlook - AI demand is projected to grow at a CAGR exceeding 45% over the next five years, indicating strong future revenue potential for TSMC [5]. - TSMC's overseas operations are expected to dilute gross margins by approximately 1%-2% in the coming years due to capacity expansions [7][14]. - The semiconductor supply chain is moving away from the inventory correction cycle, with some fabs planning to raise prices in response to strong demand [14].