Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations</li>
<li>MediaTek Poised to Benefit from the ARM and Qualcomm Dispute</li>
<li>Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece</li>
</ul>


TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations
MediaTek Poised to Benefit from the ARM and Qualcomm Dispute
Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece


Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Four former Intel board members, led by David Yoffie, with a combined 70 years of service, publish an article highly critical of Intel's current management &amp; board</li>
<li>The article claims that the only solution to Intel's woes is to completely separate the foundry business into an entirely separate entity, similar to what AMD did with GlobalFoundries</li>
<li>Curiously, the article also proposes that the US government leverages its CHIPs Act funding to force Intel's management to make the split</li>
</ul>


Four former Intel board members, led by David Yoffie, with a combined 70 years of service, publish an article highly critical of Intel's current management &amp; board
The article claims that the only solution to Intel's woes is to completely separate the foundry business into an entirely separate entity, similar to what AMD did with GlobalFoundries
Curiously, the article also proposes that the US government leverages its CHIPs Act funding to force Intel's management to make the split


Intel. Pressure Mounts As Four Former Board Members Speak Out

Technology / Semiconductor / Internet Research

Nicolas Baratte

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm</li>
<li>Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)</li>
<li>Progress in China: new Loongson CPU and GPU. Lithography Photoresist</li>
</ul>


Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm
Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)
Progress in China: new Loongson CPU and GPU. Lithography Photoresist


Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

<ul>
<li>The price of ASML EUV machine is increasing as thruput (wafer / hour) is increasing. </li>
<li>TSMC 3nm is fully booked in 2025. Here is the list of clients / chips. </li>
<li>SiC and MCU over-investments in China? Very likely. China is limiting SiC investments. </li>
</ul>


The price of ASML EUV machine is increasing as thruput (wafer / hour) is increasing. 
TSMC 3nm is fully booked in 2025. Here is the list of clients / chips. 
SiC and MCU over-investments in China? Very likely. China is limiting SiC investments. 


Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China

<ul>
<li>Q424 revenue forecast of $26.5 billion, up 13% QoQ and the highest Q3 to Q4 revenue jump since Q4 2017</li>
<li>Demand for AI acceleration is real and just beginning. According to a key customer of theirs, "demand right now is just insane"</li>
<li>Overseas fabs progressing well with Arizona yielding well and on track for high volume production in early 2025</li>
</ul>


Q424 revenue forecast of $26.5 billion, up 13% QoQ and the highest Q3 to Q4 revenue jump since Q4 2017
Demand for AI acceleration is real and just beginning. According to a key customer of theirs, "demand right now is just insane"
Overseas fabs progressing well with Arizona yielding well and on track for high volume production in early 2025


United States

Advanced Micro Devices, Inc. (AMD) produces semiconductor products and devices. The Company offers products such as microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products and supplies it to third-party foundries, as well as provides assembling, testing, and packaging services. AMD serves customers worldwide.

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Advanced Micro Devices (AMD US)

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Intel. Pressure Mounts As Four Former Board Members Speak Out

Four former Intel board members believe that foundry must be spun out into a separate entity and that if Intel's management don't do it themselves,...

William Keating

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China

ASML price increase in 2025. TSMC 3nm Order Surge Expected in 2025. Intel's Next-Gen Panther Lake CPUs Handed to Lenovo. China restrictions on SiC...

Nicolas Baratte

TSMC Q324 Earnings Key Takeaways

Q424 revenue forecast of $26.5 billion, up 13% QoQ and the highest Q3 to Q4 revenue jump since Q4 2017. According to a key customer, demand for AI...

William Keating

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Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

​TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Intel. Pressure Mounts As Four Former Board Members Speak Out

Four former Intel board members believe that foundry must be spun out into a separate entity and that if Intel's management don't do it themselves,...

William Keating

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

​Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China

ASML price increase in 2025. TSMC 3nm Order Surge Expected in 2025. Intel's Next-Gen Panther Lake CPUs Handed to Lenovo. China restrictions on SiC...

Nicolas Baratte

TSMC Q324 Earnings Key Takeaways

Q424 revenue forecast of $26.5 billion, up 13% QoQ and the highest Q3 to Q4 revenue jump since Q4 2017. According to a key customer, demand for AI...

William Keating

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...