台积电美国厂“毛利率缩水近87%”！

Core Viewpoint - TSMC's expansion in the U.S. has significantly impacted its profitability, with gross margins for 5nm chip production in Arizona dropping nearly 87% compared to Taiwan due to high labor and depreciation costs [1][3]. Group 1: Financial Impact - TSMC's gross margin for 5nm chips produced in the U.S. is approximately 87% lower than that of Taiwan, primarily due to rising labor costs and increased wafer depreciation expenses [3]. - The depreciation costs in the U.S. are about four times higher than in Taiwan if the production output is only a quarter of that in Taiwan, leading to substantial cost pressures [3]. - The high costs have resulted in the largest quarterly profit decline for TSMC's Arizona facility, indicating challenges in the sustainability of chip manufacturing outside Taiwan [3]. Group 2: Operational Challenges - The construction and operational expenses in the U.S. are significantly higher, necessitating higher capacity utilization and pricing to offset these costs [3]. - Labor costs present a major challenge for TSMC's operations in Arizona, contributing to the overall financial strain [3].