Tech Hardware and Semiconductor

Weekly Top Ten Tech Hardware and Semiconductor – Jan 12, 2025

By January 12, 2025 No Comments
This weekly newsletter pulls together summaries of the top ten most-read Insights across Tech Hardware and Semiconductor on Smartkarma.

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1. NVIDIA @ CES 2025. Forget The AIPC, We’ve Got A Supercomputer PC!

By William Keating, Ingenuity

  • Project Digits is a supercomputer on everybody’s desk for $3000. Seems crazy but feels like 1977 Ken Olson moment “no reason anyone would want a computer in their home”
  • Lack of data center revenue growth predictions likely spooked investors and triggered a ~10% pullback. Just buy the dip, you know you want to…
  • Micron and MediaTek both jumped on news of their further involvement in NVIDIA’s AI acceleration hardware supply chain. 

2. TSMC (2330.TT; TSM.US): 1Q25 Outlook, TSMC Will Use 2nm in 4Q25, and Production Will Occur in 1Q26.

By Patrick Liao


3. 2025 AI & Semiconductor Outlook

By Douglas O’Laughlin, Fabricated Knowledge

  • Last year, I called 2024 the year of AI’s adolescence, and that was quite a call. I “predicted” growing pains or a tremendous growth spurt, and the immense growth spurt happened all right.
  • This last year was the year of AI through and through.
  • There’s a deep irony because anything related to AI had a phenomenal year while everything else languished. Surprisingly, SOXX underperformed the SPY, which seemed unheard of for the year that SOXX’s largest components ripped 100%+.

4. Intel @ CES 2025. Doubling Down On The AIPC & Other Fantastical Tales

By William Keating, Ingenuity

  • Intel is pinning much hope on the success of the AIPC, a venture in which they are tied at the hip with Microsoft, which calls it a CoPilot+ PC
  • The AIPC/CoPilot+ PC concept is struggling to gain traction. They will sell in volume, but only because buyers will have limited alternatives available. Ultimately, we see AIPCs cannibalising non-AIPCs
  • Intel’s performance was underwhelming to say the least, but at the same time, not in the least bit surprising. Earnings coming on January 23. 

5. Taiwan Tech Weekly: Latest TSMC Pricing for Apple Supports Bullish Margin Case; SK Hynix’s HBM Win

By Vincent Fernando, CFA, Zero One

  • Latest TSMC Price Hike — Introducing the $18,000 Wafer; Supports The Case That Management Margin Guidance is Overly Conservative
  • Mover Over Apple, Nvidia Could Become TSMC’s Largest Customer in 2025E
  • SK Hynix(000660.KS): Insisting on HBM Technology and Continuing to Surpass Samsung in Net Earnings 

6. UMC (2303.TT; UMC.US): 1Q25 Outlook; Surprise Support of Taiwanese Fabless.

By Patrick Liao

  • United Microelectron Sp Adr (UMC US) experiences approximately a 5-10% quarter-over-quarter (QoQ) decline in 1Q25. For the full year of 2025, we anticipate a modest year-over-year (YoY) decline of around 5%.
  • We have observed some strength from Taiwanese Fabless companies, which could support the 1Q25 demand for UMC.  
  • It has been noted that mature wafer demand is not solely driven by China and may help offset the impacts of the US-China Trade War, benefiting foundries outside of China.

7. Intel (INTC.US): Exploring a Tough Journey. (II)

By Patrick Liao