Semiconductors
Foundries, fabless design, EUV lithography, advanced packaging, and the global chip supply chain.
Why This Sector Matters
The semiconductor industry underpins every technology on this site. It is also the most capital-intensive, technically complex, and geopolitically sensitive industry in the world. Understanding chips is understanding the future.
Key Sub-Themes
Foundries — TSMC owns 60%+ of advanced node manufacturing. Samsung and Intel Foundry are the only credible challengers at leading-edge nodes. TSMC’s Arizona fabs mark a historic shift in supply chain geography.
Fabless Design — NVIDIA, AMD, Qualcomm, Broadcom, Marvell design chips but outsource manufacturing. This is where the most value is created in the stack.
Equipment & Materials — ASML is the sole supplier of EUV lithography machines — without ASML, there is no 3nm, 2nm, or 1.4nm. Applied Materials, Lam Research, and KLA complete the equipment oligopoly.
Advanced Packaging — CoWoS, SoIC, HBM integration, chiplets. Packaging has become as important as node shrinks for performance gains. TSMC CoWoS capacity is the key bottleneck for AI accelerator supply.
Memory — HBM3/HBM3E is the bandwidth solution for AI training. Micron and SK Hynix are the key suppliers. DRAM cycle turning up.
Key Stocks
NVDA, AMD, INTC, QCOM, AVGO, MRVL, MU, ARM, TSM, ASML, AMAT, LRCX, KLAC, TXN, ADI, MCHP
Node Roadmap
| Node | Status | Key Player |
|---|---|---|
| 3nm (N3) | HVM since 2023 | TSMC |
| 2nm (N2) | Production 2025 | TSMC |
| 1.4nm (A14) | 2026 target | TSMC |
| 1nm (A10) | 2027–2028 target | TSMC, Intel |
| Sub-1nm | Research phase | All |
Deep Dive Articles — Coming Soon
Node-by-node analysis, equipment breakdowns, and stock-linked infographics will appear here.