讀後心得

According to the U.S. technology news website The Information, under pressure from the White House and the Department of Commerce, TSMC and Intel have reached a preliminary agreement to establish a joint venture to jointly operate Intel's wafer fabs in the United States, with TSMC acquiring a 20% stake in the new company. This move not only helps Intel improve its position in advanced processes but also strengthens the Taiwanese government's negotiating leverage. However, TSMC's ADRs fell over 7% in early trading in the U.S. The report indicated that TSMC may share chip manufacturing technology with Intel, but the details of the collaboration have not yet been determined. Overall, this agreement helps Intel address its long-term crisis and allows TSMC to gain a competitive advantage in the market.

Reports indicate that under pressure from the White House and the Department of Commerce, TSMC has reached a preliminary agreement with Intel to establish a joint venture that will be responsible for operating a portion of Intel's wafer fabs in the United States, and TSMC will acquire a 20% stake in the new company. Although this agreement will help Intel solidify its foothold in advanced processes, it also provides the Taiwanese government with more bargaining chips. Influenced by tariffs and market news, TSMC's ADR fell over 7% during the early trading hours in the U.S. stock market.

According to insiders, the terms of the agreement include that TSMC may share some chip manufacturing technologies with Intel and provide training for Intel personnel to secure the 20% stake in the new company, rather than directly providing funding. It remains unclear who will hold the remaining 80% stake and where the funding for the new company will come from, as discussions are still ongoing, and the final agreement has not been finalized.

This topic has sparked heated discussions within the semiconductor industry. Insiders mention that the earlier government negotiations were aimed at revitalizing Intel's market position, while TSMC is resisting other investigations from the U.S. government, such as the Department of Commerce's ongoing investigation into TSMC's production of advanced chips for Huawei. Both the White House and the Department of Commerce have expressed support for the agreement between TSMC and Intel, hoping to alleviate the long-term crisis Intel is facing.

Reports suggest that the proposal for this joint venture is expected to help TSMC reduce a major competitor and enable the Taiwanese government to leverage more advantages when negotiating tariff issues with the U.S. government, thereby assisting Intel in seeking stability in advanced processes.

Insiders reveal that discussions have been on hold for several months, as Intel appointed Chen Lifeng as the new CEO only in March of this year, after the resignation of former CEO Kissing in December last year. Chen had previously supported the sale of the foundry business, but there are still some high-level executives within the company who oppose the agreement, fearing it may damage Intel's proprietary chip technology and even lead to layoffs.

The exact cooperation model remains an urgent issue for both parties to resolve, as they use different production equipment and raw materials. If TSMC's manufacturing methods are adopted, Intel may need to eliminate some equipment, which would effectively transfer part of its operations to TSMC. If TSMC participates in Intel's wafer fab operations, Intel may have to consider downsizing semiconductor engineers and adjusting its equipment procurement strategies. Both companies declined to comment on this, and neither the White House nor the Department of Commerce responded to related requests.

The United States has a keen interest in TSMC; however, reports indicate that TSMC's Chairman Wei Zhejia recently traveled to Japan to discuss upcoming investment plans with local officials, while continuing to focus on the already announced investment plans for two factories. Industry sources suggest that due to geopolitical factors, TSMC's willingness to invest in the U.S. is increasing, and with changes in the automotive semiconductor market, TSMC's overseas development plans may be adjusted to focus on new factory investments in the U.S.