BERNSTEIN-台积电与全球内存：评估 H20 等相关限制的影响

16 April 2025 Global Memory TSMC & Global Memory: Assess the impact of the restriction on H20, etc. Yipin Cai, CFA +852 2123 2669 yipin.cai@bernsteinsg.com Our US semiconductors team shared their thoughts earlier, and this report assesses the implications for TSMC and memory companies. We estimate the revenue loss of TSMC will be negligible. H20 is predominately for China market & we believe B20(?) is a chip that NVIDIA planned to succeed it for China market too. We assume no license will be granted to ship ...