The initial application of CPO technology has laid an important foundation for future more integrated optoelectronic solutions, while further consolidating TSMC's leading position in the field of advanced packaging.
The Zhitong Finance App learned that Guojin Securities released a research report saying that the impact of overseas chat assistant AI apps such as ChatGPT, Perplexity, and Claude bottomed out during the holidays, and activity rebounded; domestic apps such as KimiChat and Wenxin's growth rate slowed, and ByteDoubao's web activity surpassed KimiChat, making it the most visited application on the domestic web. In the field of video generation, Sora's visits have declined, while Kuaishou Keling continues to grow, and the overall number of visits has surpassed Sora. In addition, CES 2025 showcased AI glasses from many manufacturers, and Halliday launched a new technology based on retinal projection. With the addition of mobile phone manufacturers, the AI glasses market will explode in 2025.
Guojin Securities's main views are as follows:
TSMC has made breakthrough progress in silicon photonics technology and plans to launch samples in 2025
TSMC has made breakthrough progress in the field of silicon photonics technology. By integrating optoelectronic co-packaging (CPO) and advanced packaging technology, TSMC has upgraded the performance from electrical signals to optical signals, and plans to launch samples in 2025. Its Light Engine (COUPE) technology route gradually increases the depth of optoelectronic integration, providing efficient solutions for high-performance computing and AI applications. However, the current application of CPO technology mainly focuses on communication between switch nodes, and it is still difficult to directly achieve large-scale interconnection within the nodes of high-performance computing cards. In particular, breakthroughs are still needed in cabinet-level cooling and wiring.
Despite this, the initial application of CPO technology has laid an important foundation for future more integrated optoelectronic solutions, while further consolidating TSMC's leading position in the field of advanced packaging.
Smartphone sales in China reached around 24 million units in November, down 7.47% year on year
Laptop sales in China reached about 1.88 million units, down 16.34% year on year, while desktop sales in China reached about 1.41 million units, down 7.08% year on year. This is related to the fact that Double Eleven was about 10 days ahead of schedule in '24. Judging from smartphone market trends, major Android manufacturers release their new models to vigorously promote the entry of AI into mobile phones, and the smartphone market will continue to be stimulated by AI to usher in a recovery.
Apple's data protection is becoming more strict
As Apple Intelligence promotes the development of the cloud integration model, Apple's data protection is becoming more and more strict. This will also prompt Apple to move the cloud deployed on Amazon AWS to its own data center. At present, Apple has upgraded the laptop M series chip package from a 2D INFO package to a 3D SoIC package in order to turn the M series chip into a computing card for its own data center server.
Risk warning: Chip process development and yield fall short of expectations; China-US technology policies deteriorate; smartphone sales fall short of expectations.
