Chairman of Caixin Media, Xie Jinhou, posted on the 4th, pointing out that the founder of the Formosa Plastics Group, Wang Yongqing, once held 5% of TSMC's initial shares, making him the third-largest shareholder of TSMC, but he sold all his shares in the third year. If that batch of shares had been retained, its value would have reached 1.4 trillion yuan, exceeding the total value of all companies within the Formosa Plastics Group. One can only say, 'A thousand gold cannot buy early knowledge.' (Background: TSMC's 2nm chips are too expensive! Rumors say that Apple's iPhone 17 Pro will continue to use 3nm, and NVIDIA and Qualcomm may switch orders?) (Background information: It's crazy! Trump nominates a super-hawkish Deputy Secretary of Defense: If the CCP invades Taiwan, 'the US should bomb TSMC first.') TSMC founder Morris Chang recently released his autobiography. On the 4th, Xie Jinhou pointed out on Facebook that he has a deep feeling about what Chang wrote regarding his and Wang Yongqing's experiences during TSMC's fundraising in 1986. Wang Yongqing was once the third-largest shareholder of TSMC. If Formosa Plastics had held on to TSMC without selling a single share, the value of TSMC held by Formosa Plastics would now be 1.4 trillion yuan. Wang Yongqing sold 5% of TSMC shares in the third year of his investment. Xie Jinhou noted that when TSMC was to be established, everyone was clueless about semiconductors. Morris Chang invited the business community to invest, but everyone retreated. The attitude of Formosa Plastics was especially crucial. To secure Wang Yongqing's investment, Morris Chang, Shi Qintai, and Hu Dinghua were invited to visit the Formosa Plastics building, where Wang Yongqing treated them to Formosa Plastics steak. Xie Jinhou mentioned that during the dinner, there was laughter and conversation, with Wang Yongqing frequently asking Morris Chang if the steak was good. However, they did not discuss semiconductors. The conclusion was that Formosa Plastics would not invest, which became a major problem. Minister of Economic Affairs Li Dahai asked Premier Yu Guohua to intervene, and they finally persuaded Wang Yongqing to agree to invest, making Formosa Plastics an original shareholder of TSMC, investing 7.25 million USD, which accounted for 5% of the total capital of 145 million USD (approximately 5.5 billion New Taiwan dollars). Among the original shareholders, the first to sell all TSMC shares was Wang Yongqing, who invested in TSMC and sent Wang Wenyang to serve as a director. By the third year, he instructed Wang Wenyang to sell all the shares at an average price of 17.6 yuan. If Formosa Plastics had held on to TSMC without selling a single share, the value of TSMC held by Formosa Plastics would now be 1.4 trillion yuan. Xie Jinhou lamented that last year, the stock prices of Formosa Plastics' four treasures were halved. The combined market value of the four treasures of Formosa Plastics is only 934.2 billion. Adding in Nanya Technology, Nanya PCB, and Taisheng Technology, the total is only 1.14 trillion. If Wang Yongqing's 5% investment in TSMC were still there, its value would exceed the total value of all companies in the Formosa Plastics Group. This is an unimaginable huge change, and one can only say, 'A thousand gold cannot buy early knowledge.' TSMC's advanced process quotes are rising. According to reports from Taiwan's Economic Daily, TSMC's Arizona plant will begin mass production early this year, with a monthly capacity of 20,000 to 30,000 wafers. The semiconductor industry has reported that due to the cost of manufacturing in the US being 30% higher than in Taiwan, combined with the high demand for AI chips, TSMC's advanced wafer foundry prices will increase by 5-10%. Semiconductor industry analysts believe that TSMC's advanced process price increase will be about 3-4%, with AI chip product foundry prices expected to rise by 8-10%. IDC senior research manager Zeng Guanwui analyzed that American companies such as Apple, NVIDIA, and Qualcomm continue to place orders for TSMC's 3nm process. To cope with full capacity utilization, if companies want to increase orders, they must handle them as super urgent cases. Coupled with factors such as overseas factory expansions and rising electricity prices, production costs have surged. TSMC will adjust the foundry prices for different types of products in the 3/4/5nm processes, with the price increase expected to start from products shipped in the first quarter of this year. The foundry prices for AI chip-related products are expected to rise by 8-10%, while the increase for mobile phone chips will be in the low single digits (1-3%). Overall, TSMC's advanced process foundry prices are expected to rise by about 3-4%. Zeng Guanwui stated that IC design firms accept this price increase to strengthen their bargaining power in the AI ecosystem, as this is a reasonable cost transfer action. Is TSMC's 2nm being sidestepped? Additionally, TSMC plans to mass produce 2nm advanced process chips in the second half of this year, expecting Apple, NVIDIA, and Qualcomm to be major customers. However, Korean media sammobile reported that TSMC's 2nm process capacity is limited, and major customers may consider switching orders to Samsung to diversify the supply chain. The report pointed out that currently, Japan's Rapidus, South Korea's Samsung, and TSMC are all striving to adopt the 2nm process for mass production of semiconductor chips. TSMC's yield can reach 60%, and it is conducting process testing with its customers. However, TSMC's current capacity is quite limited, and in the future, it needs to increase its monthly production from the current 10,000 wafers to 80,000 wafers, which may take until 2026 to achieve. Under high prices and low quantities, it is reported that NVIDIA and Qualcomm are considering using Samsung's 2nm process for testing. However, Samsung's advanced process performance has not been ideal. In the past, when producing 4nm chips for Qualcomm, there were overheating and performance bottleneck issues. Therefore, the 3nm process is also not favored by customers, and this may be Samsung's last chance for success. TSMC's earnings conference will take place. At the same time, TSMC is expected to hold a physical earnings conference on January 16. Bloomberg analysts estimate that TSMC's revenue for the fourth quarter of last year will exceed market expectations of 852.3 billion New Taiwan dollars, primarily driven by demand for AI and smartphone chips. The gross profit margin is expected to rise to a two-year high of 58.2%. The four key points of the earnings conference include: CoWoS advanced packaging technology: capacity is expected to double by 2025, reflecting future demand expectations for AI chips. Progress in increasing production at the Arizona plant: meeting the needs of US customers while coping with production cost pressures in both the US and Taiwan. Challenges in mature processes: the impact of weakened demand on profits. 2025 capital expenditure plan: capital expenditure is expected to grow by 17% to $35.2 billion, reflecting confidence in the prospects of the 2nm process. Related reports: Apple moving towards 'de-Qualcommization': Next year's new iPhone SE to be equipped with Apple's self-developed communication chip, rumored to be manufactured by TSMC. National Science Council promises: TSMC's 2nm will not be relocated before 2028! 'AI Basic Law' expected to be submitted for review at the next session of the Legislative Yuan. Trump calls for 10-25% tariffs on Mexico, Canada, and China upon taking office! The dollar surged, and TSMC's shares fell. 'Wang Yongqing sold all 5% of TSMC shares worth 1.4 trillion at that time, thinking that foundry profits are negligible.' This article was first published in BlockTempo (the most influential blockchain news media).