Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Nvidia will report its earnings today U.S.-time, we outline the key Taiwan AI supply chain names to watch around the earnings.</li>
<li>TSMC has maintained its full-year revenue guidance despite media reports questioning whether a further downgrade was coming.</li>
<li>Hon Hai produces over 50% of Nvidia's AI hardware according to media reports.</li>
</ul>


Nvidia will report its earnings today U.S.-time, we outline the key Taiwan AI supply chain names to watch around the earnings.
TSMC has maintained its full-year revenue guidance despite media reports questioning whether a further downgrade was coming.
Hon Hai produces over 50% of Nvidia's AI hardware according to media reports.


Taiwan Tech Weekly: Key Supply Chain Names to Watch for Nvidia's Earnings Today

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

<ul>
<li>Tower to collect a cool $353 million termination fee from Intel</li>
<li>Intel claims its foundry ambition to become the global #2 by end of the decade remains unchanged</li>
<li>The key thing Intel needed from Tower was access to its broad, diverse portfolio of specialty process technologies. These will take Intel years to develop on their own.  </li>
</ul>


Tower to collect a cool $353 million termination fee from Intel
Intel claims its foundry ambition to become the global #2 by end of the decade remains unchanged
The key thing Intel needed from Tower was access to its broad, diverse portfolio of specialty process technologies. These will take Intel years to develop on their own.  


Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>Transaction is expected to be immediately accretive to Intel’s non-GAAP EPS. The stock market reacted exciting for Tower raised 42% to reach $47.07 and Intel raised with ~1.8% respectively.</li>
<li>Tower Semiconductor is emphasized on analog semiconductor specialty foundries. Namely, it’s different from TSMC, UMC and GlobalFoundries, which are focusing on digital products original, and expand into analog afterward. </li>
<li>Intel wants to march into foundry business and have to count on Tower to bring in such operation know-hows, but Intel has to tolerate a completely different system.</li>
</ul>


Transaction is expected to be immediately accretive to Intel’s non-GAAP EPS. The stock market reacted exciting for Tower raised 42% to reach $47.07 and Intel raised with ~1.8% respectively.
Tower Semiconductor is emphasized on analog semiconductor specialty foundries. Namely, it’s different from TSMC, UMC and GlobalFoundries, which are focusing on digital products original, and expand into analog afterward. 
Intel wants to march into foundry business and have to count on Tower to bring in such operation know-hows, but Intel has to tolerate a completely different system.


Tower Semiconductor (TSME.US): To Be Merged by Intel- A Fastest Way, but a Patience Test, Too.

Israel

Tower Semiconductor Ltd. (TowerJazz) is an independent foundry providing semiconductor integrated circuits manufacturing & related design services. The Company manufactures wafers using its technologies & production capability and the proprietary designs of its customers. TowerJazz's integrated circuits are incorporated into a wide range of products in diverse markets.

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Tower Semiconductor (TSEM US)

Taiwan Tech Weekly: Key Supply Chain Names to Watch for Nvidia's Earnings Today

Also -- TSMC has maintained its full-year revenue guidance and Hon Hai is said to produce over 50% of Nvidia's AI hardware.

Vincent Fernando, CFA

Intel Terminates Tower Semi Deal

Tower to collect a cool $353 million termination fee. Intel claims its foundry ambition remains unchanged, but not gaining access to Tower's...

William Keating

Tower Semiconductor (TSME.US): To Be Merged by Intel- A Fastest Way, but a Patience Test, Too.

Intel wants to march into foundry business and have to count on Tower to bring in such operation and know-hows, but Intel has to tolerate a...

Patrick Liao

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