公众号记得加星标⭐️，第一时间看推送不会错过。 来源 ： 内容来自工商时报，谢谢 。 供应链消息直指英伟达联手联发科打造的N1x芯片明年1月底将进行NPI，外界猜测将赶上英伟达 GTC大会进行发表，将为联发科明年营运带来新成长动能。 英伟达进军AI PC市场，供应链消息直指联手联发科打造之N1x SoC新进度，预估明年1月底进行 NPI(新产品导入)，外界猜测将赶上英伟达GTC大会进行发表。 据悉，该芯片以台积电3纳米制程（N3B）打造，类似GB10芯片架构；也因Arm PC采类似芯片而 有省电优势快速成长，高通作为先行者，看好2029年达40亿美元之市场目标，并乐见更多竞争者 加入，扩大该市场渗透率。 供应链透露，英伟达N1系列芯片因微软作业系统开发，未如原先市场预期，然微软新的Arm版 Windows作业系统将于今年第四季释出，英伟达有望于明年首季顺利向市场发布。OEM业者认 为，CES 2026或GTC大会都是可能的时间点；将为联发科明年营运带来新成长动能。 业界分析，英伟达入股英特尔，短期对Arm PC发展影响不大，产品线将各有定位；从联发科基于 GB10处理器延伸打造之N1系列处理器，将瞄准消费性市 ...

Investment Rating - The report does not explicitly state an investment rating for MediaTek, but it highlights solid performance and growth potential in AI SoC and ASIC businesses, suggesting a positive outlook for the company. Core Insights - MediaTek reported 2Q25 revenue of NTD 150.4 billion, slightly below market consensus of NTD 151.2 billion, representing a 1.9% QoQ decrease and an 18.1% YoY increase. EPS reached NTD 17.5, exceeding market expectations. The gross margin was 49.1%, up 1 percentage point QoQ, aided by a one-off contribution from a long-term supply agreement [1][5][9]. - The ASIC business is a significant growth driver, with a total addressable market (TAM) exceeding USD 40 billion. MediaTek is expanding its ASIC R&D resources and expects substantial revenue contributions starting in 2026, with a target of reaching USD 1 billion in revenue by the end of 2026 [2][6][10]. - MediaTek is actively investing in 2nm process technology, with the first 2nm chip expected to tape out in September 2023, which will enhance performance and power efficiency for both SoC and ASIC businesses [3][7][10]. - Collaboration with NVIDIA continues to deepen, with the GB10 chip entering mass production in Q3, which is expected to contribute to revenue growth [4][8][10]. - For 3Q25, MediaTek expects revenue between NTD 130.1 billion and NTD 140 billion, a QoQ decrease of 7% to 13%, but a YoY increase of 10% to 18%. The gross margin is projected at 47% [9][10]. Summary by Sections Financial Performance - 2Q25 revenue: NTD 150.4 billion, -1.9% QoQ, +18.1% YoY [1][5] - EPS: NTD 17.5, exceeding expectations [1][5] - Gross margin: 49.1%, +1 ppt QoQ [1][5] ASIC Business - Strong performance in enterprise ASIC sector with TAM over USD 40 billion [2][6] - Rapid expansion of ASIC R&D resources [2][6] - Expected revenue contributions starting in 2026, targeting USD 1 billion by end of 2026 [2][6][10] 2nm Process Development - Active investment in 2nm process technology [3][7] - First 2nm chip expected to tape out in September 2023 [3][7] Collaboration with NVIDIA - Ongoing collaboration in chip business and automotive cockpit chips [4][8] - GB10 chip to enter mass production in Q3 [4][8] Future Guidance - 3Q25 revenue guidance: NTD 130.1 billion to NTD 140 billion [9][10] - Expected gross margin: 47% [9][10]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The AI-driven demand for high-performance chips is a key growth driver for TSMC, with FY25Q2 revenue reaching NT$933.8 billion (approximately USD 31.9 billion), exceeding market expectations and previous guidance [14][19] - The global PC device sales are projected to increase by 6.5% year-on-year in Q2 2025, reaching approximately 68 million units, with Apple showing the strongest performance [21] - MediaTek reported a June revenue of NT$56.4 billion, a year-on-year increase of 31%, indicating strong growth potential in the AI PC market [27][30] Summary by Sections AI Developments - Moonshot AI launched and open-sourced the Kimi K2 model, which features 32 billion active parameters and aims to enhance agent applications in China [12][7] - Google's Veo AI has integrated a new image-to-video feature into its Gemini application, available in over 150 countries [13] TSMC Performance - TSMC's strong Q2 performance reflects ongoing high demand for advanced processes and packaging capacity driven by AI [14] - Key topics for TSMC's upcoming earnings call include AI demand sustainability, non-AI customer demand changes, and the impact of currency fluctuations on profit margins [19][20] PC Market Dynamics - According to IDC, global PC sales are expected to continue their upward trend, with Apple leading in growth [21][23] - The report highlights the competitive landscape in the AI chip market, particularly between MediaTek and Qualcomm [27][30]

Core Viewpoint - The anticipated AI PC chips from Nvidia and MediaTek are expected to see significant market rollout only in the second half of 2026, despite a planned unveiling at Computex 2025 [1][2]. Group 1: Chip Development and Release Timeline - Nvidia and MediaTek are set to jointly unveil the new Arm chip "N1" at Computex, with two models, N1X and N1, expected to be introduced [1]. - The industry anticipates that significant shipment volumes for these chips will not materialize until the second half of 2026 due to ongoing production capacity enhancements [1][2]. - Early benchmark tests for the N1X indicate performance lags behind some existing Arm-based PC chips, raising concerns within the industry [1]. Group 2: Market and Product Focus - The roadmap for Nvidia and MediaTek includes commercial N1X AI laptops targeting high-end consumers and the business market, boasting 180-200 AI TOPS of computing performance [4]. - Consumer-grade AI laptops will utilize the N1C processor platform, which has been delayed to 2026 due to tariffs and inflation [4]. - Major manufacturers like Dell, HP, Lenovo, and ASUS are planning to launch desktops and laptops based on these new chips, with MSI and Compal also entering the supply chain [4]. Group 3: Additional Developments - Nvidia's DFX Station is in preparation, featuring the GB300 Grace Blackwell Ultra "super chip," which will include 748GB of memory and 20K TOPS of AI computing capability, compatible with both Windows and macOS [4].