Ming -Chi Kuo rejected NVIDIA command in full AI requirements confirming TSMC is extended on track -NASDAQ:NASDAQ:NVDA), Taiwan Semiconductor (NYSE:TSM)

Although market speculation has decreased primarily Nvidia Corporation NVDA 2025, Snowflake Fragments – Cowos Wafer Order Taiwan Semiconductor Manufacturing Company TSMa famous analyst Ming-Chi Kuo The rumors were revealed, confirming that TSMC’s expansion plans are still normal.

what happened: Market chats show that NVIDIA’s TSMC’s Cowos wafer orders have been reduced from over 400,000 Waves to 380,000 Waves, raising concerns about fluctuations in demand for AI.

But, on Monday, Ku said the rumors could be based on misunderstandings about Nvidia’s production strategy and exaggerated expectations about TSMC’s capabilities.

“In 2025, NVIDIA’s COWOS orders are about 370,000 wafers (changes within low-unit numbers are considered normal range),” he said, “TSMC’s COWOS expansion program remains the same…targeting about 70,000 feet by December 2022.”

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Kuo also noted that some market participants overestimated TSMC’s COWOS capabilities and misunderstood that NVIDIA’s transition from B200 to B300 series GPUs is a sign of order reduction.

Why it matters: The COWOS process is critical for NVIDIA’s AI chip production because it can perform high-performance computing for GPUs used in data centers and AI models.

Kuo’s report follows Nvidia’s impressive fourth-quarter earnings. The AI ​​chip giant reported revenue of $39.3 billion in the fourth quarter, reflecting 12% in the quarter, a year-on-year increase of 78%.

That figure surpassed Wall Street consensus estimate of $38.05 billion.

Meanwhile, TSMC reported revenue in the fourth quarter was $26.88 billion (NT$868.46 billion), marking a year-on-year increase of 38.8%, surpassing the analyst consensus estimate of $26.28 billion.

Price action: NVIDIA shares have fallen 9.68% so far, while TSMC shares have fallen 10.44% according to Benzinga Pro Data.

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