2nm，三雄争霸

Core Insights - TSMC has officially launched mass production of its 2nm (N2) semiconductor process in Q4 2025, becoming the first foundry to utilize Gate-All-Around (GAA) architecture for chiplet manufacturing, with production ramping up at its Hsinchu and Kaohsiung facilities to meet increasing market demand starting in 2026 [1] - Intel is actively promoting its 18A process, which is equivalent to 2nm, with plans to deliver its first processor, "Panther Lake," by the end of 2025, while also aiming for industry-standard yield levels by late 2026 or early 2027 [2] - The competition for external customers in the 2nm foundry market is primarily between Intel and Samsung, with TSMC currently holding a dominant position as the only foundry offering 2nm services to external clients [3] Summary by Sections TSMC's 2nm Production - TSMC has initiated mass production of its 2nm process, with production capacity increasing at its 20th and 22nd fabs to meet future demand [1] - The company reported record wafer output for its 2nm chips, surpassing the output of its previous 3nm process during the same period [1] - TSMC's chairman noted that customer demand for the 2nm process exceeds current supply capabilities, necessitating full production by the end of 2025 [1] Intel's 18A Process - Intel is showcasing its 18A process development, with plans to deliver the "Panther Lake" processor by late 2025 and to officially launch it at CES 2026 [2] - The company aims to achieve industry-standard yield levels for the 18A process by late 2026 or early 2027 [2] - Intel is also working to attract major clients like Apple and Amazon to adopt its 18A technology [4] Competitive Landscape - The competition for 2nm foundry services is intensifying, with Intel targeting four external customers for its 18A process by 2026, while Samsung has announced its Exynos 2600 processor based on 2nm GAA technology [3][2] - TSMC remains the leader in the 2nm market, while Samsung's ability to capture market share depends on improving yield rates at its Texas facility [3] - High-profile clients like Tesla are showing interest in both TSMC's and Samsung's 2nm technologies, but the final decisions may hinge on production capabilities [3] Future Developments - Intel plans to equip its Arizona fab with at least 15 EUV lithography machines and aims to start production of its next-generation 14A process by 2028 [4] - The company is focusing on expanding its 2nm GAA capacity to reduce reliance on TSMC's foundry services [4] - The competitive dynamics in the 2nm market are expected to evolve as companies strive to close the technology gap with TSMC [5]