AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

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.

Equity Bottom-Up

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>TSMC’s new plants will increase its production capacity for 3-nm chips, aiming to triple output this year. Global market share stands at 18%.</li>
<li>Major tech companies’ increased AI investments are driving demand for TSMC’s advanced semiconductors, crucial for AI and machine learning applications. </li>
<li>TSMC’s automotive solutions output is expected to grow at a 50% CAGR through 2024, addressing global chip shortages in the auto industry.</li>
</ul>


TSMC’s new plants will increase its production capacity for 3-nm chips, aiming to triple output this year. Global market share stands at 18%.
Major tech companies’ increased AI investments are driving demand for TSMC’s advanced semiconductors, crucial for AI and machine learning applications. 
TSMC’s automotive solutions output is expected to grow at a 50% CAGR through 2024, addressing global chip shortages in the auto industry.


TSMC's Expansion Strategy: New Plants and Rising AI Demand Shape Future Growth

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

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

<ul>
<li>Key Taiwan Server Names Soar; Delta Electronics Major Winner of Nvidia's Conference</li>
<li>TSMC (2330.TT; TSM.US): Raising Growth Target to 25%+ YoY in 2024F</li>
<li>Memory Monitor: Micron Leapfrogging Into HBM3E for AI; Nanya Lagging Peers But Poised to Benefit </li>
</ul>


Key Taiwan Server Names Soar; Delta Electronics Major Winner of Nvidia's Conference
TSMC (2330.TT; TSM.US): Raising Growth Target to 25%+ YoY in 2024F
Memory Monitor: Micron Leapfrogging Into HBM3E for AI; Nanya Lagging Peers But Poised to Benefit 


Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

<ul>
<li>Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains</li>
<li>Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data</li>
<li>UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important </li>
</ul>


Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains
Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data
UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important 


Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

<ul>
<li>TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range</li>
<li>UMC: -2.2% Discount; Good Level to Go Long the Premium</li>
<li>ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long</li>
</ul>


TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range
UMC: -2.2% Discount; Good Level to Go Long the Premium
ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long


Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

<ul>
<li>Nvidia GTC Conference This Week Likely to Create Newsflow for Many Tech Names</li>
<li>Samsung Could Hike NAND Flash Prices by 20%; Silicon Motion for Exposure</li>
<li>TSMC Reportedly Placing Orders for Additional Advanced Packaging Capacity, Likely In Response to Demand Strength</li>
</ul>


Nvidia GTC Conference This Week Likely to Create Newsflow for Many Tech Names
Samsung Could Hike NAND Flash Prices by 20%; Silicon Motion for Exposure
TSMC Reportedly Placing Orders for Additional Advanced Packaging Capacity, Likely In Response to Demand Strength


Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

Taiwan

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

Taiwan Semiconductor (TSMC) - ADR (TSM US)

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Taiwan Semiconductor (TSMC) - ADR (TSM US)

TSMC's Expansion Strategy: New Plants and Rising AI Demand Shape Future Growth

TSMC plans seven new plants worldwide, boosting production of 3-nm and 2-nm chips. Chips Foundry Market share of 62%, AI sector growth driving demand.

Mint Finance

Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

The market was generally positive after Nvidia's GTC conference last week with key Taiwan server and other AI-linked names rising substantially....

Vincent Fernando, CFA

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

Nvidia and Apple negative news sets the Taiwan Tech universe off to a tough start of the week. This week look for Asustek, Novatek, Himax results...

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TSMC's Expansion Strategy: New Plants and Rising AI Demand Shape Future Growth

TSMC plans seven new plants worldwide, boosting production of 3-nm and 2-nm chips. Chips Foundry Market share of 62%, AI sector growth driving demand.

Mint Finance

Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

The market was generally positive after Nvidia's GTC conference last week with key Taiwan server and other AI-linked names rising substantially....

Vincent Fernando, CFA

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

Nvidia and Apple negative news sets the Taiwan Tech universe off to a tough start of the week. This week look for Asustek, Novatek, Himax results...

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

​Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...

Vincent Fernando, CFA

Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...