TSMC(US:TSM) 国芯网·2025-12-23 04:49Core Viewpoint - The semiconductor industry is experiencing a shift in profit margins, with Samsung and SK Hynix's storage division expected to surpass TSMC's margins for the first time in seven years, indicating a significant change in the industry's profit focus driven by AI demand [2][4]. Group 1: Profit Margins and Market Dynamics - Samsung and SK Hynix's gross margins for the fourth quarter are estimated to be between 63% and 67%, exceeding TSMC's 60% [2]. - The shift in profit margins highlights the growing importance of storage chips in the AI industry, which are becoming critical for AI inference capabilities [4]. Group 2: Market Growth and Demand - The storage market is projected to reach $444 billion next year, driven by increasing demand for AI inference [4]. - As AI applications expand, the demand for storage chips is expected to rise, enhancing their market position and demand scale [4]. - AI inference will also drive upgrades in storage architecture, accelerating the replacement of traditional hard drives with SSDs, thus providing new growth momentum for the storage industry [4].