台积电 - 我们对中国 AI GPU 晶圆代工机遇的看法；维持 “跑赢大盘” 评级

December 8, 2025 08:00 PM GMT TSMC | Asia Pacific Our thoughts on the China AI GPU foundry opportunity; keep OW The China AI GPU foundry opportunity, if any, would present upside to our TSMC forecasts. But we do not plan to put into our base case forecasts until US and China policy both confirm this business development. Reiterate TSMC as Top Pick. What's new? After our recent Asia field trip, investors are asking two questions about TSMC's opportunity to serve China's AI accelerators market: 1) Is recent n ...