Goldman Sachs predicts Intel will spend US$5.6 billion and US$9.7 billion on TSMC foundry in 2024 and 2025

News from this site on September 4 that although Intel executives are very optimistic about their future roadmap and manufacturing capabilities with advanced processes, investors don’t seem to think so.

Goldman Sachs analysts believe that Intel may further increase the proportion of outsourced products to TSMC in the future.

According to a Goldman Sachs analysis report obtained by Commercial Times, Intel’s outsourcing orders in 2024 and 2025 It is expected to reach US$18.6 billion (currently about 135.222 billion yuan) and US$19.4 billion (currently about 141.038 billion yuan), which may mean that Intel will outsource all products by then, but it is almost impossible to happen.

According to Goldman Sachs, under a more realistic development scenario, TSMC may receive Intel’s US$5.6 billion (currently about 40.712 billion yuan) and US$9.7 billion (currently) from 2024 to 2025. approximately RMB 70.519 billion).

In fact, starting from the second half of 2023, almost all of Intel’s high-volume products will rely on small chip designs. Some of the small chips are produced by Intel, while others are based on TSMC production, but due to Intel’s sales It is a complete product, so you can still get a higher profit margin.

As far as TSMC is concerned, if Goldman Sachs’ data is accurate enough, Intel will account for about 6.4% and 9.4% of TSMC’s total revenue every year, which is basically the same as second only to Apple (accounting for about 23% last year). %) of major customers, which is in line with industry expectations.

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