Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC's Most Advanced Node -- 5x Growth to 200K Wafers a Month? Upcoming 2nm Node Capacity Ramp Could Be Much Bigger Than Many Think</li>
<li>OpenAI's Sam Altman 'Jokes' About Owning US$3 Trillion Worth of GPUs One Day...</li>
<li>AI PC Delay -- Nvidia-MediaTek Push AI PC Chip Launch to 2026</li>
</ul>


TSMC's Most Advanced Node -- 5x Growth to 200K Wafers a Month? Upcoming 2nm Node Capacity Ramp Could Be Much Bigger Than Many Think
OpenAI's Sam Altman 'Jokes' About Owning US$3 Trillion Worth of GPUs One Day...
AI PC Delay -- Nvidia-MediaTek Push AI PC Chip Launch to 2026


Taiwan Tech Weekly: TSMC Preparing 5x 2nm Ramp into 2027; Altman 'Jokes' About Buying 100x More GPUs

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Global Foundries acquiring MIPS, sparking conversation about RISC V's role in the ecosystem</li><li>Global Foundries focusing on offering IP and services in niche markets with potential for growth</li><li>MIPS will continue to operate independently, providing turnkey solutions for RISC V and potential customizations for customers</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Global Foundries acquiring MIPS, sparking conversation about RISC V's role in the ecosystemGlobal Foundries focusing on offering IP and services in niche markets with potential for growthMIPS will continue to operate independently, providing turnkey solutions for RISC V and potential customizations for customersThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EP 125: What's Going on with RISC-V? Update on Intel, Everything is AI!

<ul>
<li>We Engaged with Kinik Recently to Get Insight on Activity Strength for TSMC's Expansion into Nodes 2nm and Below</li>
<li>Diamond Tooling: Quietly Powering Advanced Logic; Kinik Recently Running at Max Capacity for Key DBU Business Segment... also at 100% for SBU Segment</li>
<li>Takeaways -- Kinik as a Concentrated Play on Advanced Node Transitions... Also, We Believe Signs Remain Positive for TSMC's Recent Activity Momentum</li>
</ul>


We Engaged with Kinik Recently to Get Insight on Activity Strength for TSMC's Expansion into Nodes 2nm and Below
Diamond Tooling: Quietly Powering Advanced Logic; Kinik Recently Running at Max Capacity for Key DBU Business Segment... also at 100% for SBU Segment
Takeaways -- Kinik as a Concentrated Play on Advanced Node Transitions... Also, We Believe Signs Remain Positive for TSMC's Recent Activity Momentum


TechChain Insights: Kinik - The Hidden Enabler Behind TSMC’s Sub-2nm Push

<ul>
<li>Intel Tapes Out New PC Chips on TSMC 2nm -- Dual-Node Nova Lake Strategy Shows Dependence on TSMC... and Value of UMC for INTC in the Long-Term</li>
<li>DRAM Memory Outlook -- Nanya Results See Non-AI DRAM Demand Rebound; DDR4 Shortage Tightens, Expects Continued Strength in 2H25</li>
<li>PC 2Q25: 6-7% Unit Growth YoY Is Pretty Good. 2025 Looks like a 5-6% Growth Year </li>
</ul>


Intel Tapes Out New PC Chips on TSMC 2nm -- Dual-Node Nova Lake Strategy Shows Dependence on TSMC... and Value of UMC for INTC in the Long-Term
DRAM Memory Outlook -- Nanya Results See Non-AI DRAM Demand Rebound; DDR4 Shortage Tightens, Expects Continued Strength in 2H25
PC 2Q25: 6-7% Unit Growth YoY Is Pretty Good. 2025 Looks like a 5-6% Growth Year 


Taiwan Tech Weekly: Intel Tapes Out New Chips at TSMC - What It Means; PC Demand Growth in Focus

Zhen Ding Technology Holding / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zhen-ding-technology-holding-ltd" target="_blank" data-smartkarma-citation="entities:16830:1" rel="noopener">Zhen Ding Technology Holding (4958 TT)</a> is leveraging its full-stack PCB and IC substrate portfolio to position itself as a critical enabler of AI hardware across cloud, channel, and edge applications. </li>
<li>AI-Linked hardware is expected to account for over 70% of Zhen Ding’s revenue in 2025, up sharply from 45% in 2024 and just 8% in 2023.</li>
<li>Zhen Ding shares remain substantially below their 52-week highs; we see the company well-placed in terms of long-term drivers. Well placed for an upcoming AI robotics boom.</li>
</ul>



Zhen Ding Technology Holding (4958 TT) is leveraging its full-stack PCB and IC substrate portfolio to position itself as a critical enabler of AI hardware across cloud, channel, and edge applications. 
AI-Linked hardware is expected to account for over 70% of Zhen Ding’s revenue in 2025, up sharply from 45% in 2024 and just 8% in 2023.
Zhen Ding shares remain substantially below their 52-week highs; we see the company well-placed in terms of long-term drivers. Well placed for an upcoming AI robotics boom.


TechChain Insights: Zhen Ding - How Next Generation PCBs/Substrates Will Be Critical for AI Devices

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

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Intel Corp (INTC US)

Taiwan Tech Weekly: TSMC Preparing 5x 2nm Ramp into 2027; Altman 'Jokes' About Buying 100x More GPUs

TSMC's upcoming 2nm node could see a significant increase in wafer capacity, OpenAI's Sam Altman jokes about owning trillions worth of GPUs, and...

Vincent Fernando, CFA

EP 125: What's Going on with RISC-V? Update on Intel, Everything is AI!

GlobalFoundries acquires MIPS to enhance their offerings in RISC V technology for Edge, IoT, and embedded systems, aiming to provide better IP and...

The Circuit

TechChain Insights: Kinik - The Hidden Enabler Behind TSMC’s Sub-2nm Push

Insight from Kinik suggests positive momentum for TSMC's expansion into nodes 2nm and below, with Kinik running at max capacity for key business...

Vincent Fernando, CFA

Taiwan Tech Weekly: Intel Tapes Out New Chips at TSMC - What It Means; PC Demand Growth in Focus

Intel relies on TSMC for new PC chips, Nanya sees rebound in non-AI DRAM demand, PC unit growth expected to continue in 2025.

Vincent Fernando, CFA

TechChain Insights: Zhen Ding - How Next Generation PCBs/Substrates Will Be Critical for AI Devices

Zhen Ding is poised to become a key leader in the backbone of AI hardware with a strong portfolio with strong growth expected in the coming years.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Tech Weekly: TSMC Preparing 5x 2nm Ramp into 2027; Altman 'Jokes' About Buying 100x More GPUs

​TSMC's upcoming 2nm node could see a significant increase in wafer capacity, OpenAI's Sam Altman jokes about owning trillions worth of GPUs, and...

Vincent Fernando, CFA

EP 125: What's Going on with RISC-V? Update on Intel, Everything is AI!

GlobalFoundries acquires MIPS to enhance their offerings in RISC V technology for Edge, IoT, and embedded systems, aiming to provide better IP and...

The Circuit

TechChain Insights: Kinik - The Hidden Enabler Behind TSMC’s Sub-2nm Push

​Insight from Kinik suggests positive momentum for TSMC's expansion into nodes 2nm and below, with Kinik running at max capacity for key business...

Vincent Fernando, CFA

Taiwan Tech Weekly: Intel Tapes Out New Chips at TSMC - What It Means; PC Demand Growth in Focus

​Intel relies on TSMC for new PC chips, Nanya sees rebound in non-AI DRAM demand, PC unit growth expected to continue in 2025.

Vincent Fernando, CFA

TechChain Insights: Zhen Ding - How Next Generation PCBs/Substrates Will Be Critical for AI Devices

​Zhen Ding is poised to become a key leader in the backbone of AI hardware with a strong portfolio with strong growth expected in the coming years.

Vincent Fernando, CFA

TSMC's upcoming 2nm node could see a significant increase in wafer capacity, OpenAI's Sam Altman jokes about owning trillions worth of GPUs, and...

Insight from Kinik suggests positive momentum for TSMC's expansion into nodes 2nm and below, with Kinik running at max capacity for key business...

Intel relies on TSMC for new PC chips, Nanya sees rebound in non-AI DRAM demand, PC unit growth expected to continue in 2025.

Zhen Ding is poised to become a key leader in the backbone of AI hardware with a strong portfolio with strong growth expected in the coming years.