# 台積電掌握AI架構競爭雙方優勢。 *semiconductor · news · 2026-06-01 · Seeking Alpha* ## Key points - Google自製AI晶片旨在降低對Nvidia的依賴，仍帶來新的台積電訂單。 - 台積電受惠於Nvidia及其競爭對手的自製AI晶片需求，掌握市場上行空間。 - 第一季台積電將長期毛利率下限調升至56%，顯示獲利預期提升。 - N2製程量產、海外晶圓廠及匯率波動帶來的綜合稀釋效應正同時衝擊台積電。 Hyperscalers Are Trying To Replace Nvidia's GPUs - TSMC Gets The Upside Either Way Deep Value Investing 13.4K Followers Comment (1) Summary When Google builds custom AI chips to reduce Nvidia dependence, it creates a new TSMC order. So, TSMC captures both sides of the AI architecture competition. Three competing chip CEOs - Nvidia's Jensen Huang, AMD's Lisa Su, and Intel's Lip-Bu Tan - flew to Taiwan separately in late May. TSMC hit a new high at the same time. Management raised in Q1 the long-term gross margin floor to 56% while disclosing what I believe to be the company's biggest dilution schedule. July 16 is the first test of my bull thesis. I want to see Q2 gross margins hold inside the 65.5–67.5% guided band while N2 is ramping. The multiple is demanding at roughly 30x forward earnings, and stacked dilution from N2, overseas fabs, and Taiwan-dollar swings is hitting simultaneously. In the last week of May, Nvidia's (NVDA) Jensen Huang, Advanced Micro Devices' (AMD) Lisa Su, and Intel's (INTC) Lip-Bu Tan all converged on Taiwan within days of each other. Three direct competitors, all in the This article was written by 13.4K Followers Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well, you can land a Jumbo on the spread and still have clearance for take-off. From time to time, I buy shares, mostly to not be categorized as a degen by my fellow investor friends, therefore the 50%-50% allocation. My timeframe tends to be between 3-24 months.I like stocks that have experienced a recent sell-off due to non-recurrent events, particularly when insiders are buying shares at the new lower price. This is how I often screen through thousands of stocks, mainly in the US, although I may own shares in banana republics. I use fundamental analysis to check the health of companies that pass through my screening process, their leverage, and then compare their financial ratios with the sector, and industry median and average. I also do professional background checks of each insider who purchased shares after the recent sell-off. I use technical analysis to optimize the entry and exit points of my positions. I mainly use multicolor lines for support and resistance levels on weekly charts. From time to time I draw trend lines, taken for granted, in multicolor patterns. Note: I tried to keep my introduction as real, and authentic as possible. I dislike empty suits, high-level BS, deep-level BS, unnecessary jargon, and self-indulgent, third-person written introductions with an air of superiority.Thanks for reading my introduction! Analyst’s Disclosure: I/we have a beneficial long position in the shares of TSM, INTC, AMD, NVDA, MSFT, AVGO, MRVL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. I am not a registered investment adviser, broker, dealer, or tax professional. This article, including any comments or replies I post, reflects my personal opinions only and is provided for informational and educational purposes. 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Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comment (1) **Companies:** Nvidia, TSMC, AMD, Intel **Countries:** Taiwan, United States [Read the full story on Seeking Alpha](https://seekingalpha.com/article/4910744-hyperscalers-trying-to-replace-nvidia-gpus-tsmc-gets-the-upside-either-way) --- Canonical: https://newsio.io/zh-TW/n/2e6d94ee-e514-4b8a-b46e-f7cbbdec4fd3/ai65-567-5n2 Summarized by Newsio from Seeking Alpha. https://newsio.io/how-it-works