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It has been an unbelievable year for the chief executive of TSMC. Four years after CC Wei took over as the sole chief, the Taiwanese chipmaker has broken record after record. The share price has also doubled during that time. But Wei will need some bold New Year resolutions as he heads into a tough 2023.
对于台积电(TSMC)首席执行官来说,今年是令人难以置信的一年。在魏哲家(CC Wei)出任首席执行官四年后,这家台湾芯片制造商打破了一个又一个纪录。在此期间,股价也翻了一番。但面对艰难的2023年,魏哲家需要一些大胆的新年决心。
Sales have been strong this year. August’s $7.1bn total was yet another monthly record high. US export bans imposed on China have just bought TSMC more than a decade of time against Chinese peers that had been catching up fast and undercutting prices.
今年的销售一直很强劲。8月份的总额为71亿美元,再创月度新高。美国对中国大陆实施的出口禁令,刚刚为台积电赢得了10多年的时间,而中国大陆同行一直在快速追赶,并压低价格。
Yet chip demand and prices are highly sensitive to a downturn in the semiconductor cycle or the global economy. Wei cannot expect a repeat in 2023.
然而,芯片需求和价格对半导体周期或全球经济的低迷高度敏感。魏不能指望2022年的成功在2023年重演。
Competition poses a bigger challenge than the semiconductor cycle or an economic downturn. Samsung and Intel are both going all in on 2nm technology. TSMC has just started mass production of its 3nm chips, while Samsung already started shipping in July. That could mean a delay for Apple, TSMC’s key client. There is little brand loyalty in the chip industry. Staying at the top of the list of customers comes down to one thing: who can ship the most advanced chips.
竞争带来的挑战比半导体周期或经济衰退更大。三星和英特尔都将全力投入2nm技术。台积电刚刚开始量产3nm芯片,而三星已经在7月份开始出货。这可能意味着台积电的主要客户苹果公司(Apple)相关产品要推迟。芯片行业几乎没有品牌忠诚度。能稳居客户榜首的关键在于一件事:谁能提供最先进的芯片。
Another problem comes from inside. The current talent shortage at global chipmakers has never been more serious. Competitors, especially Chinese companies, have been poaching engineering talent from TSMC for years. Now, the talent war is local. Taiwan’s MediaTek and United Microelectronics are both planning to hire thousands of employees at home. US-based Micron, Intel and Nvidia as well as global chip gear makers ASML and Applied Materials are also hiring heavily in Taiwan. Wei will have to pay up to keep talent from leaving.
另一个问题来自内部。全球芯片制造商目前的人才短缺从未像现在这样严重。多年来,台积电的竞争对手,尤其是中国大陆企业,一直在挖走台积电的工程人才。现在,人才争夺战是地方性的。台湾联发科(MediaTek)和联华电子(United Microelectronics)都计划在本土招聘数千名员工。总部位于美国的美光(Micron)、英特尔(Intel)和英伟达(Nvidia),以及全球芯片设备制造商阿斯麦(ASML)和应用材料(Applied Materials)也在台湾大举招聘。魏将不得不付出代价来留住人才。
Warren Buffett’s Berkshire Hathaway has chosen TSMC as one of its biggest ever Asian tech investments. The stake has given the stock a boost. But as a 20 per cent drop in BYD shares after Berkshire Hathaway cut its stake shows, that could prove to be a double-edged sword.
沃伦•巴菲特(Warren Buffett)旗下的伯克希尔哈撒韦公司(Berkshire Hathaway)选择台积电作为其有史以来最大的亚洲科技投资之一。他的持股提振了该公司的股价。但正如伯克希尔哈撒韦减持比亚迪股份后比亚迪股价下跌20%所显示的那样,这可能是一把双刃剑。