The Firm That Filed a Bet Against Taiwan Semiconductor Then Launched a Foundry Fund Five Days Later

Commerce Secretary Howard Lutnick confirmed upcoming semiconductor tariffs, with exemptions for US-based production. Nvidia's CEO, Jensen Huang, distanced himself from the policy. Phase Two tariffs will be broader than Phase One, affecting servers, laptops, and gaming hardware. Specific rates, exemptions, and timelines remain unspecified. The tariffs, under Section 232, will be permanent unless removed by the president. TSMC's US investments may partially offset tariffs, but many organizations f

Commerce Secretary Lutnick revealed that upcoming semiconductor tariffs will follow a pharmaceutical framework, requiring companies to sign agreements with federal agencies for duty reductions. The framework has three tiers, with zero duty requiring both onshoring and pricing agreements. Lutnick's comments were made on CNBC's Squawk Box during the G20 Innovation Ministerial. The tariffs are part of Phase Two, expanding the scope of previous duties and potentially removing exemptions. TSMC has a

JPMorgan forecasts AI infrastructure spending to reach $1.4T by 2030. NVIDIA (NVDA) reports Q2 FY27 revenue of $96.22B, up 105.85% YoY, with strong AI demand. Taiwan Semiconductor (TSM) sees Q2 revenue of $40.20B, up 67.7% gross margin, guiding for 40%+ FY26 growth. Broadcom (AVGO) reports Q2 FY26 revenue of $22.19B, up 47.87% YoY, with AI semiconductor revenue growing 143%.

The article analyzes the semiconductor sector, highlighting key companies like ASML, TSMC, Micron, SK Hynix, Samsung, Synopsys, Cadence, Nvidia, and AMD. It discusses supply chain dependencies, with Nvidia as a demand hub and others as critical chokepoints. Recent financial data includes TSMC's raised capex to $62B, ASML's strong sales, and Nvidia's revenue growth of 106%. The sector saw a trillion-dollar market value drop in late July, followed by a rebound driven by supply constraints and stro

Taiwan's Taiex index rose 1.78% to a 2-month high, driven by investor interest in semiconductor stocks. Nvidia's $3.5B investment in MediaTek's bond offering boosted MediaTek's shares by 10% and other tech stocks. TSMC, ASE Technology, and Hon Hai also saw gains. Foreign investors bought NT$26.71B in shares.

The Trump administration may expand semiconductor tariffs to include laptops, gaming consoles, and AI servers, while a tax credit for domestic chip manufacturing is set to expire. This uncertainty affects companies like Nvidia (NVDA) and AMD (AMD), as well as startups and research labs, potentially increasing costs and delaying projects. The tariffs, if implemented under Section 232, could become permanent, impacting the tech industry's supply chain and investment plans.