只靠 IP 授权，半导体公司还能走多远？

Core Insights - The semiconductor industry is undergoing significant changes, particularly in the business model of intellectual property (IP) licensing, which is shifting towards a more integrated approach that includes design services and system integration [4][5][6]. Industry Trends - The most notable change is industry consolidation driven by the transition to system-on-chip (SoC) designs, particularly for the Internet of Things (IoT), leading semiconductor companies to acquire IP to reduce reliance on third-party sources and enhance product differentiation [2][3]. - Open-source hardware IP is emerging as a disruptive force in the hardware ecosystem, similar to the impact of open-source software, with RISC-V architecture gaining traction in both embedded and high-performance computing applications [3][4]. - The evolution of the semiconductor industry, supported by advanced electronic design automation (EDA) tools and the proliferation of licensable IP, is making custom chip development more accessible, with AI accelerating development speed and reducing costs [3][4]. Changes in IP Business Model - The traditional IP licensing model is declining as a standalone business model, becoming more valuable as part of a broader product and service offering that includes design services and system integration [4][5]. - Companies like Arm and MIPS are adapting to these changes, with Arm expanding its IP offerings and MIPS transitioning to an IP service provider model focused on specific applications [5][6]. Strategic Developments - Following its acquisition by SoftBank, Arm has increased its R&D budget and is now targeting new markets, including high-performance computing, while also offering comprehensive design services [5][6]. - MIPS, after overcoming bankruptcy, is focusing on RISC-V architecture and positioning itself as an IP service provider, reflecting the challenges faced by traditional IP suppliers [5][6]. - GlobalFoundries' acquisition of MIPS is part of a broader strategy to provide custom semiconductor solutions, integrating design and manufacturing capabilities [6][7]. Future Outlook - Despite rapid innovation in semiconductors, structural changes in the industry will take time, with Arm's standard CPU architecture remaining dominant while custom and RISC-V based CPUs are expected to grow [7]. - Successful companies will be those that view IP as part of a broader silicon solution platform rather than as a standalone product [7].