第一财经·2026-01-15 04:16Core Viewpoint - The U.S. government has announced a 25% import tariff on certain semiconductor products, including NVIDIA's AI chip H200 and AMD's MI325X, while some products that support the U.S. technology supply chain are exempted [3]. Group 1: U.S. Tariff Announcement - The U.S. will impose a 25% tariff on a small portion of imported semiconductors and related equipment starting January 15 [3]. - Exemptions apply to products that aid in building the U.S. technology supply chain, such as those used in data centers or by U.S. startups [3]. Group 2: Domestic Semiconductor Manufacturing - The U.S. has been pushing for domestic semiconductor manufacturing due to insufficient local production capacity to meet growing demand [3]. - The U.S. consumes about 25% of the world's semiconductors but only produces around 10% domestically [3]. Group 3: NVIDIA and TSMC Collaboration - NVIDIA, despite being a leading AI chip company, still relies on overseas supply chains, particularly TSMC, which has been a partner for over 25 years [4]. - NVIDIA's CEO announced the launch of the new Rubin chip architecture, which significantly improves performance due to a 60% increase in transistor count [4]. Group 4: TSMC's Expansion Plans - TSMC is expanding its manufacturing capabilities in Arizona, USA, and is also investing in a second wafer fab in Japan while continuing investments in Taiwan [5]. - The first U.S.-made NVIDIA Blackwell chip was produced at TSMC's Arizona facility, but there is no confirmation yet for the production of the new Rubin architecture chips in the U.S. [5]. Group 5: Market Reactions - Following the tariff announcement, NVIDIA's stock fell by 1.44%, while AMD's stock rose by 1.19%, and TSMC's stock decreased by 1.24% [6].