2025 年台湾国际半导体展_3.5D 先进封装、共封装光学及更多测试_ SEMICON Taiwan 2025_ 3.5D advanced packaging, co-packaged optics and more testing

Summary of Key Points from the Conference Call Industry Overview - The conference focused on the semiconductor industry, particularly advancements in AI chips, heterogeneous integration, advanced packaging, and optical interconnect technologies, reflecting the growing importance of these areas in the market [2][3][20]. Core Findings 1. TSMC's Capacity Expansion: TSMC is expected to expand its CoWoS capacity to 100kwpm by the end of 2026, up from 70kwpm at the end of 2025, driven by robust demand for Cloud AI GPUs and ASICs [3]. 2. AI Computing Demand: AI computing requirements have surged by 10x in the past year, necessitating advancements in chip scaling, memory, and interconnect technologies [3]. 3. 3.5D Advanced Packaging: The event highlighted significant discussions around 3.5D advanced packaging, which is anticipated to become mainstream for high-performance computing, improving cost structures and product design speeds [3]. 4. Heterogeneous Integration: The trend towards co-packaged optics (CPO) is gaining traction, with expectations for power consumption to be optimized by 2028, allowing for the replacement of copper in AI server integrations [3]. 5. Testing Innovations: The complexity of die and package designs is increasing the need for more rigorous testing at the wafer/die level to identify yield issues early [3]. Stock Recommendations - Top stock picks in the Greater China semiconductor sector include TSMC, ASE, MediaTek, Alchip, and Aspeed, all rated as "Buy" due to their structural AI opportunities [4]. Additional Insights - Optical Interconnects: Nvidia's advancements in networking infrastructure, particularly with its Spectrum-X CPO solution, promise significant power savings and improved signal integrity [12]. - AI Data Center Power Consumption: The power consumption of AI data centers is projected to rise dramatically, with examples like Meta's Hyperion data center expected to consume 2GW by 2030 [16]. - Challenges in Advanced Packaging: The industry faces challenges in transitioning to panel-level packaging and CoWoP technologies, which require overcoming technical hurdles related to system design and materials [30][39]. Emerging Technologies - Silicon Photonics: TSMC's COUPE platform aims to enhance integration of optics and electrical signaling, addressing bandwidth bottlenecks in computing performance [12]. - GaN Technology: GaN is highlighted for its efficiency and potential in powering AI applications, with Texas Instruments and Infineon leading developments in this area [36][38]. Conclusion - The semiconductor industry is at a pivotal point, driven by AI advancements and the need for innovative packaging and integration solutions. Companies like TSMC, Nvidia, and MediaTek are positioned to capitalize on these trends, while challenges in testing and power consumption remain critical areas for development [3][4][16][20].