将采用3纳米制程技术的第二座晶圆厂则已经完成建设，来自美国先进制程客户兴趣浓厚，为此，台积 电正致力将当地厂区量产进度加速数个季度，以支持客户需求。 台积电预告，将采用N2和A16制程技术的亚利桑那第三座晶圆厂已经开始动工，由于客户对AI相关的需 求强劲，也将考虑加快生产进度。 台积电（2330）面临今年第4季新台币与美元营收恐不如第3季，为近十年首次出现第4季旺季业绩出现 季减的状况。 不过，台积电仍积极争取更多成长机会，特别是在客户群狂催下，美国六个厂的超大晶圆厂计划持续加 速推进。 台积电已拍板加码美国亚利桑那州厂区投资，预期在美国先进制程客户以及美国联邦政府、州政府和市 政府大力合作和支持下，有意投资总共1,650亿美元于美国先进半导体制造，当中包含六个晶圆厂、两 座先进封装厂，以及一间主要研发中心。 台积电预估，美国亚利桑那州专案投资到位后，估30%的2纳米以下先进制程产能将在当地生产，进而 支援苹果、英伟达、超微、高通与博通等美系大客户需求。 台积电在亚利桑那州的第一座晶圆厂已于2024年第4季采用4纳米制程技术成功进入量产，良率与台湾厂 相当。 当地第四座晶圆厂将采用N2和A16制程技术，而第五 ...

Core Viewpoint - TSMC reported strong Q2 2025 results with revenue of $30.07 billion, a year-on-year increase of 44.4% and a quarter-on-quarter increase of 17.8%, leading to an upward revision of the 2025 full-year revenue guidance to 30% growth [1][3][17] Financial Performance - Q2 2025 profit exceeded expectations with a gross margin of 58.6%, close to the upper limit of guidance [1][3] - Q3 2025 revenue guidance is set at $31.8 to $33 billion, representing a year-on-year increase of 38% and a quarter-on-quarter increase of 8% [3][13] - Q2 2025 capital expenditure was $9.63 billion, maintaining the full-year capex guidance of $38 to $42 billion [4][14] Revenue Composition - HPC revenue continues to rise, with 74% of revenue coming from 7nm and below process nodes [2][12] - By technology node, revenue breakdown is 24% from 3nm, 36% from 5nm, and 14% from 7nm [2][12] - By platform, HPC revenue increased by 14% quarter-on-quarter, accounting for 60% of total revenue [2][12] Guidance and Outlook - The company expects strong revenue growth in Q3 2025, with a gross margin guidance of 55.5% to 57.5% [3][13] - The company anticipates a potential decline in Q4 2025 revenue due to tariff impacts and other uncertainties [3][4] - AI demand is expected to see explosive growth within 6 months to 1 year, with a projected CAGR of nearly 45% from AI-accelerated chips [4][17] Global Expansion Plans - TSMC plans to invest $165 billion in advanced semiconductor manufacturing in Arizona, including six advanced wafer fabs and two advanced packaging facilities [19][20] - The company is also expanding in Japan and Europe, with plans for specialized technology factories in Kumamoto and Dresden [20][21] Technological Advancements - N2 and A16 technologies are positioned to meet the growing demand for high-efficiency computing, with N2 expected to enter mass production in the second half of 2025 [21][22] - The company is focusing on enhancing its technology leadership and operational excellence to strengthen its competitive position [18][41]