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40% of what category? SOC, GPU, CPU, NAND, Discreet Semiconductors?

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Trump was talking about % of chip market in dollars, not % of overall chips. The bleeding edge ultra small geometry AI, uP, SOC, GPU product are the most expensive and TSMC has the best processes to make them. I've been out of it 20+ years but last I read TSMC was down to 3nM channel lengths a couple of years ago. THAT is where the big money is.

I dug up a little info on TSMC's current bleeding edge production processes ... which I find amazing compared to the geometries I once worked with.

On 29 December 2022, TSMC announced that volume production using its 3 nm process technology N3 is underway with good yields.[3] The company plans to start volume manufacturing using refined 3 nm process technology called N3E in the second half of 2023.[54]

In December 2022, at IEDM 2022 conference, TSMC disclosed a few details about their 3 nm process technologies: contacted gate pitch of N3 is 45 nm, minimum metal pitch of N3E is 23 nm, and SRAM cell area is 0.0199 μm2 for N3 and 0.021 μm2 for N3E (same as in N5). For N3E process, depending on the number of fins in cells used for design, area scaling compared to N5 2–2 fin cells ranges from 0.64x to 0.85x, performance gains range from 11% to 32% and energy savings range from 12% to 30% (the numbers refer to Cortex-A72 core). TSMC's FinFlex technology allows to intermix cells with different number of fins in a single chip.[55][56][57][58]

Reporting from IEDM 2022, semiconductor industry expert Dick James stated that TSMC's 3 nm processes offered only incremental improvements, because limits have been reached for fin height, gate length, and number of fins per transistor (single fin). After implementation of features such as single diffusion break, contact over active gate and FinFlex, there will be no more room left for improvement of FinFET-based process technologies.[59]

In April 2023, at its Technology Symposium, TSMC revealed some details about their N3P and N3X processes the company had introduced earlier: N3P will offer 5% higher speed or 5–10% lower power and 1.04× higher "chip density" compared to N3E, while N3X will offer 5% speed gain at the cost of ~3.5× higher leakage and the same density compared to N3P. N3P is scheduled to enter volume production in the second half of 2024, and N3X will follow in 2025.[60]

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Trump was talking about % of chip market in dollars, not % of overall chips.

Global

nearly 40% of the entire Global Semiconductor Market

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Yes, it is a very big deal. Makes me wish I was just starting my career so I could ride that wave too. Very exciting.