Core Viewpoint - The semiconductor industry is characterized by a complex, interwoven global supply chain, making unilateral actions by either the US or China difficult in their competition for chip manufacturing dominance [1][2]. Group 1: Supply Chain Dynamics - The semiconductor production process relies on a global network for mining, design, manufacturing, packaging, and testing, with certain countries and companies holding proprietary technologies that dominate the market [1]. - Ultra-pure quartz, essential for semiconductor production, is primarily sourced from a single location in North Carolina, which supplies about 90% of the global ultra-pure quartz [1]. Group 2: Market Share and Competition - Shin-Etsu Chemical holds approximately 30% of the global wafer market, establishing itself as a leader in the industry [1]. - TSMC commands a significant 67.1% share of the global foundry market, followed by Samsung at 8.1% and China's SMIC at 5.5%, collectively accounting for over 80% of the market [2]. - The concentration of market power is expected to persist as leading companies continue to invest heavily in research and development, making it challenging for new entrants to disrupt their dominance [2].

Core Viewpoint - The article discusses the potential impact of U.S. tariffs on foreign-made semiconductors, emphasizing concerns from companies like TSMC and Intel regarding the implications for domestic semiconductor manufacturing and the overall supply chain [1][2][3]. Group 1: TSMC's Position - TSMC warns that tariffs could threaten electronic product demand and reduce revenue, potentially impacting the construction and operation timeline of its Arizona facility [1]. - TSMC urges the U.S. government to exempt it from any semiconductor-related tariffs to facilitate its investments in Arizona [1]. - The Arizona facility is projected to account for approximately 30% of TSMC's global capacity for 2nm and more advanced technology nodes, which will meet U.S. demand [1][10]. Group 2: Industry Responses - Dell highlights the lack of necessary infrastructure for large-scale domestic chip production, indicating that efforts are still in the early stages [2]. - HPE expresses that tariffs on imported semiconductors would hinder its ability to maintain and expand domestic manufacturing, affecting national security and economic growth [2]. - Intel emphasizes the need to protect U.S. semiconductor manufacturing and suggests that tariffs could lead foreign buyers to increasingly choose non-U.S. chips [2][24]. Group 3: TSMC's Investment Plans - TSMC plans to invest $165 billion in Arizona, including six advanced semiconductor fabs, two advanced packaging facilities, and a large R&D center, marking the largest single foreign direct investment in U.S. history [10]. - The Arizona project is expected to create significant economic output, with projections of over $200 billion in spillover economic benefits for the state and the nation [10][14]. - TSMC's first Arizona fab is set to begin mass production by the end of 2024, utilizing 4nm process technology [12]. Group 4: Economic and Employment Impact - TSMC's Arizona project is anticipated to create tens of thousands of high-paying jobs in advanced chip manufacturing and R&D, along with supporting 40,000 construction jobs in the short term [14]. - The project is expected to significantly boost exports of U.S.-made semiconductors, contributing to economic growth and addressing trade imbalances [14]. - TSMC aims to collaborate with U.S. universities to develop a skilled workforce for the semiconductor industry [15]. Group 5: Recommendations for U.S. Government - TSMC requests that any measures taken by the U.S. government should not create uncertainty for existing semiconductor investments, advocating for tariff exemptions for its Arizona facility [16][18]. - The article suggests that the government should focus on growth-promoting measures rather than imposing tariffs, which could hinder the development of the semiconductor industry [20]. - TSMC encourages the government to extend tax incentives and streamline regulatory processes to support the rapid development of semiconductor manufacturing facilities [20][22]. Group 6: Intel's Position - Intel stresses the importance of maintaining U.S. semiconductor manufacturing capabilities and suggests that tariffs could increase costs and delay production [24][32]. - The company has invested $107.5 billion in capital expenditures and $78.8 billion in R&D over the past five years, primarily to expand U.S. manufacturing capabilities [23]. - Intel calls for strategic adjustments to protect U.S.-made semiconductor wafers and their derivatives, emphasizing the critical nature of wafer manufacturing in the semiconductor production process [24][25].

Financial Data and Key Metrics Changes - First quarter revenue was $1,585 million, representing a 13% decrease sequentially but a 2% increase year over year [26] - Gross profit for the first quarter was $379 million, translating to a gross margin of approximately 23.9% [29] - Net income for the first quarter was $189 million, an increase of $15 million from the previous year [30] Business Line Data and Key Metrics Changes - Automotive revenue represented approximately 19% of total revenue, decreasing 25% sequentially but increasing 16% year over year [28] - Smart mobile devices accounted for approximately 37% of total revenue, with a 21% sequential decrease and a 14% year-over-year decrease [27] - Communications infrastructure and data center revenue increased approximately 2% sequentially and 45% year over year, representing about 11% of total revenue [29] Market Data and Key Metrics Changes - Revenue from home and industrial IoT markets represented approximately 21% of total revenue, decreasing 8% sequentially but increasing 6% year over year [28] - The automotive market is expected to see meaningful year-over-year revenue growth in 2025 despite current soft demand [15] - The IoT segment returned to year-over-year growth in Q1, but caution is advised for the second half of the year due to tariff uncertainties [20] Company Strategy and Development Direction - The company is focused on free cash flow generation as a key objective, with $165 million of non-IFRS adjusted free cash flow reported for Q1 [7] - Investments exceeding $7 billion have been made in U.S., Germany, and Singapore facilities since 2021 to enhance manufacturing scale and technology diversity [10] - The serviceable addressable market is anticipated to grow at approximately 10% per annum through the end of the decade, with the company positioned to grow at or faster than market rates [11] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing geopolitical tensions and trade uncertainties impacting the global economy, but expressed confidence in the company's long-term growth opportunities [7] - The company is monitoring supply chain dynamics closely and diversifying sourcing strategies to mitigate potential impacts on costs [9] - Despite uncertainties, the long-term demand for essential chip technologies remains strong, with a robust financial profile and declining leverage [13] Other Important Information - The company expects total revenue for Q2 2025 to be approximately $1,675 million, with gross margin guidance in the range of 25% [32] - Operating expenses for Q1 were approximately 10% of total revenue, with R&D expenses at $114 million [29] - The company has a strong liquidity position with $4.7 billion in cash and marketable securities [13] Q&A Session Summary Question: Impact of tariffs on revenue - Management indicated no significant short-term impacts from tariffs on orders, but remains cautious about potential medium-term effects on consumer and industrial demand [41] Question: ASP outlook for the year - ASPs are expected to decline mid-single digits due to product mix and underutilization payments, but gross margins are expected to be supported by better utilization and structural cost improvements [47][49] Question: Growth expectations for communication infrastructure and data center - Management anticipates high teens growth for the communication infrastructure and data center segment in 2025, driven by substantial investments in data centers [55] Question: Recovery in automotive market - The automotive segment is expected to continue growing, with strong design wins and increasing semiconductor content in vehicles [67] Question: Inorganic growth strategy - The company is open to inorganic growth opportunities that align with its strategy, particularly in enhancing its differentiated chip portfolio [90]

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 自从特朗普上台之后，发布了一系列高强度关税政策，全球半导体供应链也深受影响。在不稳定的 环境下，产业内对包括中国、日本、韩国在内的亚洲半导体产业开始更加重视。 其中，日本半导体产业尤其值得我们重点关注。 提起日本，总是会想起"失落的三十年"，虽然日本半导体目前在"台前"比较低调，但在上游半导 体设备与材料，仍旧有着顶流的存在感。 在2024年新调查的 "半导体材料"的5个品类中，日本企业在3个品类位居第一 。在光刻胶领域， 东京应化工业以22.8％的份额排在首位，排名靠前的日本企业的合计份额达到75.9％；在硅晶圆 领域，信越化学工业 （24.7％） 的份额位居全球首位；光掩膜基板领域，3家日本企业垄断全球份 额。 半导体材料和设备领域市场较小，利润率相对更低，但技术难度又较大，对技术基础要求高。但日 本依靠其"匠人精神"以及对基础科研的极端重视，在该领域形成了独特的垄断墙。 想要更深入了解日本半导体产业，参加 SEMICON Japan 是一个不容错 ...

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 自从特朗普上台之后，发布了一系列高强度关税政策，全球半导体供应链也深受影响。在不稳定的 环境下，产业内对包括中国、日本、韩国在内的亚洲半导体产业开始更加重视。 其中，日本半导体产业尤其值得我们重点关注。 提起日本，总是会想起"失落的三十年"，虽然日本半导体目前在"台前"比较低调，但在上游半导 体设备与材料，仍旧有着顶流的存在感。 在2024年新调查的 "半导体材料"的5个品类中，日本企业在3个品类位居第一 。在光刻胶领域， 东京应化工业以22.8％的份额排在首位，排名靠前的日本企业的合计份额达到75.9％；在硅晶圆 领域，信越化学工业 （24.7％） 的份额位居全球首位；光掩膜基板领域，3家日本企业垄断全球份 额。 半导体材料和设备领域市场较小，利润率相对更低，但技术难度又较大，对技术基础要求高。但日 本依靠其"匠人精神"以及对基础科研的极端重视，在该领域形成了独特的垄断墙。 想要更深入了解日本半导体产业，参加 SEMICON Japan 是一个不容错 ...

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 自从特朗普上台之后，发布了一系列高强度关税政策，全球半导体供应链也深受影响。在不稳定的 环境下，产业内对包括中国、日本、韩国在内的亚洲半导体产业开始更加重视。 其中，日本半导体产业尤其值得我们重点关注。 提起日本，总是会想起"失落的三十年"，虽然日本半导体目前在"台前"比较低调，但在上游半导 体设备与材料，仍旧有着顶流的存在感。 在2024年新调查的 "半导体材料"的5个品类中，日本企业在3个品类位居第一 。在光刻胶领域， 东京应化工业以22.8％的份额排在首位，排名靠前的日本企业的合计份额达到75.9％；在硅晶圆 领域，信越化学工业 （24.7％） 的份额位居全球首位；光掩膜基板领域，3家日本企业垄断全球份 额。 半导体材料和设备领域市场较小，利润率相对更低，但技术难度又较大，对技术基础要求高。但日 本依靠其"匠人精神"以及对基础科研的极端重视，在该领域形成了独特的垄断墙。 想要更深入了解日本半导体产业，参加 SEMICON Japan 是一个不容错 ...

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 自从特朗普上台之后，发布了一系列高强度关税政策，全球半导体供应链也深受影响。在不稳定的 环境下，产业内对包括中国、日本、韩国在内的亚洲半导体产业开始更加重视。 其中，日本半导体产业尤其值得我们重点关注。 提起日本，总是会想起"失落的三十年"，虽然日本半导体目前在"台前"比较低调，但在上游半导 体设备与材料，仍旧有着顶流的存在感。 在2024年新调查的 "半导体材料"的5个品类中，日本企业在3个品类位居第一 。在光刻胶领域， 东京应化工业以22.8％的份额排在首位，排名靠前的日本企业的合计份额达到75.9％；在硅晶圆 领域，信越化学工业 （24.7％） 的份额位居全球首位；光掩膜基板领域，3家日本企业垄断全球份 额。 半导体材料和设备领域市场较小，利润率相对更低，但技术难度又较大，对技术基础要求高。但日 本依靠其"匠人精神"以及对基础科研的极端重视，在该领域形成了独特的垄断墙。 想要更深入了解日本半导体产业，参加 SEMICON Japan 是一个不容错 ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 4月23日消息，据报道，台积电因在不知情的情况下为列入黑名单的公司生产芯片而面临10亿美元的罚 款。 不过，台积电在其最新的年度报告中承认，在监控芯片离开晶圆厂后如何使用存在困难。换句话说，它 不能保证其芯片最终不会进入被禁止企业。 据台积电年报，"我们在半导体供应链中的角色本质上限制了我们关于包含我们制造的半导体的最终产品 的下游使用或用户的可见性和信息，"台积电在其年度报告中的一份声明中写道。"这种限制阻碍了我们 完全确保我们制造的半导体不会被转移到非预期的最终用途或最终用户的能力，包括可能由我们的业务 合作伙伴或意图规避的第三方转移。" 当 TSMC 签订生产芯片的合同时，会向它提供一个 GDS 文件，其中包含制造该芯片所需的所有几何形 状、层和层次结构信息。TSMC使用各种工具验证 GDS 文件，以确保其符合工艺技术规则，然后生成光 掩模以最终制造芯片。台积电在任何时候都无法确定芯片的开发商或其最终目的地。 "此外，如果我们或我们的业务合作伙伴未能获得适当的进口、出口或再出口许可证或许可证， ...

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 自从特朗普上台之后，发布了一系列高强度关税政策，全球半导体供应链也深受影响。在不稳定的 环境下，产业内对包括中国、日本、韩国在内的亚洲半导体产业开始更加重视。 其中，日本半导体产业尤其值得我们重点关注。 提起日本，总是会想起"失落的三十年"，虽然日本半导体目前在"台前"比较低调，但在上游半导 体设备与材料，仍旧有着顶流的存在感。 在2024年新调查的 "半导体材料"的5个品类中，日本企业在3个品类位居第一 。在光刻胶领域， 东京应化工业以22.8％的份额排在首位，排名靠前的日本企业的合计份额达到75.9％；在硅晶圆 领域，信越化学工业 （24.7％） 的份额位居全球首位；光掩膜基板领域，3家日本企业垄断全球份 额。 半导体材料和设备领域市场较小，利润率相对更低，但技术难度又较大，对技术基础要求高。但日 本依靠其"匠人精神"以及对基础科研的极端重视，在该领域形成了独特的垄断墙。 想要更深入了解日本半导体产业，参加 SEMICON Japan 是一个不容错 ...

台积电创始人张忠谋曾提到，当英伟达CEO黄仁勋选择芯片制造合作伙伴时，"他愿意把一切都押在台积电身上"。 当地时间4月8日，美国总统特朗普称，他已经告知台积电，如果不在美国建厂，就将向台积电征收100%的高额关税。4月9日，台积电股价下跌超3%，过去 5个交易日，台积电股价累计下跌超16%。 这是特朗普对半导体供应链作出的最新威胁。尽管该行业在此前生效的对等关税中被豁免，但美股市场芯片板块仍然遭到冲击。过去5个交易日，英伟达股 价累计下跌超12%，最新市值仅2.3万亿美元。AMD股价更是下跌近24%。 台积电为包括英伟达、AMD以及苹果等公司供应芯片。该公司也是贸易战的"风暴眼"。该公司的市值在去年年底曾突破1万亿美元，但目前市值已经跌至约 7300亿美元。 黄仁勋表示，综合这些因素，短期内关税不会对英伟达的业绩展望和财务产生显著影响；但长期来看，本地制造是适应当前变化的关键。英伟达今年的目标 是加强供应链涉及国家地区的本地制造能力。 尽管台积电已经宣布增加对美国的投资，但分析师认为，美国的芯片生产能力仍不足以满足当前芯片的需求。 台积电创始人张忠谋曾提到，当英伟达CEO黄仁勋选择芯片制造合作伙伴时，"他愿意 ...