Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Intel @ BofA Securities 2025 Global Technology Conference

Intel 18A: Cracks in the Wall. Good for TSMC.

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Equity Bottom-Up

<ul>
<li>Tan’s continuation of IDM 2.0 marks a pragmatic recalibration. By focusing on margin recapture and tailored customer models, Intel's ambitions are not just about competing with TSMC at scale.</li>
<li>Intel’s 18A node was never intended as a mass-market foundry product; it was a strategic, internal milestone to reestablish process credibility, with commercial foundry ambitions anchored in 18A-P and 14A.</li>
<li>Intel’s future hinges less on market share and more on executing a credible, margin-accretive foundry model.  It could well emerge as a second-source alternative in a geopolitically fragmented supply chain.</li>
</ul>


Tan’s continuation of IDM 2.0 marks a pragmatic recalibration. By focusing on margin recapture and tailored customer models, Intel's ambitions are not just about competing with TSMC at scale.
Intel’s 18A node was never intended as a mass-market foundry product; it was a strategic, internal milestone to reestablish process credibility, with commercial foundry ambitions anchored in 18A-P and 14A.
Intel’s future hinges less on market share and more on executing a credible, margin-accretive foundry model.  It could well emerge as a second-source alternative in a geopolitically fragmented supply chain.


TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

TSMC (Taiwan Semiconductor Manufacturing) - ADR

Carving Out a Niche: The Case for Intel’s Foundry Strategy Beyond the TSMC Benchmark

Intel Corp

Carving Out a Niche: The Case for Intel’s Foundry Strategy Beyond the TSMC Benchmark