台积电，再度涨价！

Core Viewpoint - TSMC is set to implement a four-year price increase plan starting in 2026 for advanced processes below 5nm, 4nm, 3nm, and 2nm, in response to strong global AI demand and tight production capacity [2][3]. Group 1: Price Increase Plan - TSMC has begun notifying clients about the price increase plan, which is expected to raise advanced process prices by approximately 5% to 10% starting in 2026 [2][3]. - The price adjustments will vary based on client purchase volumes and relationships, reflecting rising production costs [3][4]. - This marks TSMC's fourth consecutive year of price increases, with previous adjustments being relatively moderate, only in single-digit percentages [4]. Group 2: Revenue and Market Position - In Q3 2024, TSMC's advanced process revenue accounted for 74% of total revenue, with 5nm contributing 37% and 3nm 23%, up from 69% the previous year [3]. - The proportion of advanced processes is projected to rise to around 75% by 2025, indicating strong demand and market position [3]. - TSMC's growth is primarily driven by advanced processes, with significant revenue expected from AI applications, potentially reaching 35% of total revenue by 2028, possibly sooner [4]. Group 3: Client Relationships and Strategy - TSMC emphasizes long-term strategic pricing rather than short-term opportunism, maintaining strong relationships with clients even during challenging market conditions [3][4]. - The company has historically avoided arbitrary price increases, focusing on collaboration with clients to plan capacity and investment in advanced technologies [4].