“AI时代以来首次长期涨价行动”！台积电启动“连续4年涨价”

Core Viewpoint - TSMC will continue to raise prices for advanced processes (below 7nm) in 2024, with an expected increase of 3% to 10%, marking the fourth consecutive year of price hikes for the world's largest foundry [1][2]. Group 1: Price Increase and Market Dynamics - TSMC has initiated annual price negotiations with clients due to rising production costs and persistent capacity shortages, with price increases expected to reach 3% to 10% for advanced processes by 2026 [2][4]. - The company has informed clients that starting from September, it will implement a continuous four-year price increase plan for processes below 5nm, with the most sought-after 3nm process expected to rise by at least a single-digit percentage [2][4]. - The price hikes are seen as a response to inflation and increased production costs, with the overall increase expected to be better than this year's modest single-digit percentage [4][8]. Group 2: Impact on Production Capacity - The price adjustments may lead to a gradual reduction in production capacity for mature processes above 7nm, with AI, servers, and high-performance computing (HPC) applications being the main beneficiaries [5][8]. - TSMC will consider factors such as client purchasing scale and cooperation depth to determine specific price increases, ensuring cost reflection while maintaining stable client relationships [6][8]. Group 3: Revenue Growth Drivers - Advanced processes have become the main growth driver for TSMC, with 5nm and 3nm families accounting for 60% of revenue in Q2 and maintaining this ratio in Q3, with 3nm at 23% and 5nm at 37% [8]. - The demand for AI applications is expected to drive continuous revenue and profit growth for TSMC, with foreign investors revising the company's mid-to-long-term revenue forecasts for AI applications [8]. - TrendForce predicts that wafer fabs will raise foundry prices by 2026 due to AI-driven demand for power management chips, with TSMC's leading position in advanced processes and tight capacity supporting its ongoing price adjustments [8].