原文标题： TSMC Considers Running Intel's US Factories After Trump Team Request TSMC would take controlling stake in potential partnership Administration aims to boost manufacturing of advanced chips 台积电考虑在特朗普团队请求下运营英特尔的美国工厂 台积电可能在合作中持有控股权 美国政府希望提升先进晶片制造能力 原文连结： https://tinyurl.com/mrewftsy 发布时间： 2025年2月15日 at 上午2:54 记者署名： Mackenzie Hawkins and Ian King 原文内容： Taiwan Semiconductor Manufacturing Co. is considering taking a controlling stake in Intel Corp.’s factories at the request of Trump administration officials, a person familiar with the matter said, as the president looks to boost American manufacturing and maintain US leadership in critical technologies. Trump’s team raised the idea of a deal between the two companies in recent meetings with officials from the Taiwanese chipmaker, the person said, and TSMC was receptive. It’s unclear whether Intel is open to a transaction. The talks are in very early stages, and the exact structure of a potential partnership hasn’t been established. But the intended result would have the world’s largest made-to-order chipmaker fully operating Intel’s US semiconductor factories, said the person, who asked not to be identified because the conversations are private. It also would address concerns about Intel’s deteriorating financial state, which has forced the company to slash jobs and curb its global expansion plans. The arrangement may involve having major American chip designers take equity stakes, according to the person, along with support from the US government. That means the venture wouldn’t solely be owned by a foreign company. TSMC is the go-to chipmaker for Apple Inc., Nvidia Corp. and other companies developing semiconductors that power AI algorithms. TSMC and Santa Clara, California-based Intel declined to comment. A White House representative didn’t immediately respond to a request for comment. Intel shares pared losses on Friday after Bloomberg reported on the discussions. The stock was down less than 1% to $24 as 1:56 p.m. in New York after dropping as much as 5.3% earlier in the session. While Intel has lost a lot of ground to rivals over the last five years, it still manufactures the most widely used components in the personal computer and server industries. And it has the largest and most advanced production network owned by a US-based company. Those factories have taken on vital strategic importance as Washington works to reverse decades of semiconductor manufacturing shifting to Asia. Under former Chief Executive Officer Pat Gelsinger, Intel embarked on an ambitious and expensive plan to restore its chipmaking lead, and the company won $7.9 billion in US government funding to support projects in four states. It’s also secured $3 billion to produce chips for the US military, all of which will be paid out over time as Intel’s plants hit key milestones. The company has received $2.2 billion as of January. But that effort has so far failed to attract enough outside customers to make the investments worthwhile, particularly at a new site in Ohio. Intel’s own products also are losing market share, adding to the overall squeeze on its finances — just when it needs to spend heavily. Gelsinger was forced out in December after the board lost confidence in his turnaround plans. Though Intel has reiterated its commitment to investing in US factories — even as it pulls back from efforts abroad — Washington officials have for months been discussing contingency plans. One option favored by some in the Biden administration was a possible deal between Intel and GlobalFoundries Inc ., Bloomberg has reported. That would have married a maker of older-generation chips with Intel’s leading-edge business. But GlobalFoundries walked away from cutting-edge production years ago and doesn’t have the money for an acquisition, so those conversations didn’t progress much past a thought exercise. Biden officials also floated the possibility of TSMC licensing its manufacturing technology for use at Intel’s facilities, according to multiple people familiar with the conversations. But TSMC wasn’t interested in an arrangement that could ultimately benefit a competitor, the people said. And Biden’s team was generally reluctant to take an active role in deal conversations, according to several people familiar with the situation. Trump, meanwhile, is not shy about cutting deals — and TSMC, which just held its board meeting in the US for the first time, is eager to maintain good relations with the new president. Trump has repeatedly accused Taiwan of “stealing” the US chip industry and threatened tariffs on foreign-produced semiconductors. He’s expressed a preference for using those kinds of levies to boost US chipmaking instead of government subsidies — the approach adopted by the US Chips and Science Act. That legislation, passed in 2022, led to TSMC winning $6.6 billion in grants to support three plants in Phoenix. But it was also Trump’s first administration that set out to lure TSMC to the US, and top Trump officials have consistently affirmed their commitment to boosting domestic manufacturing. That’s particularly true for technologies at the heart of the US-China competition. The US “will ensure that the most powerful AI systems are built in the US with American-designed and manufactured chips,” Vice President JD Vance said during an AI summit in Paris earlier this week. The fact that TSMC is open to an Intel deal indicates a change in tune from just a few months ago. In October, CEO C.C. Wei had told analysts that his company wasn’t interested in acquiring Intel’s factories. Asked the same question again in January, Wei didn’t directly answer: “They are our very good customers,” he said. “I like them and they are very important to TSMC’s business also. That all I can say.” — With assistance from Debby Wu and Jenny Leonard ChatGPT机翻： 台湾积体电路制造公司（台积电）正在考虑在美国政府官员的请求下，持有英特尔公司（ Intel）工厂的控股权，一名知情人士透露。此举是特朗普政府为了促进美国制造业发展 ，并维持美国在关键技术领域的领导地位。 该知情人士表示，特朗普团队最近与台积电高层会面时，提出了这项合作构想，而台积电 对此表示有兴趣。目前尚不清楚英特尔是否愿意接受这笔交易。 谈判仍处於非常初步的阶段，潜在合作的具体架构尚未确定。然而，这项计画的目标是让 全球最大的晶圆代工企业全面接管英特尔在美国的半导体工厂。该知情人士表示，这也将 有助於缓解市场对英特尔财务状况恶化的担忧，该公司近期已被迫裁员并缩减其全球扩张 计画。 该知情人士表示，这项合作可能会涉及美国主要晶片设计公司持有部分股权，同时获得美 国政府的支持。这意味着该合资企业不会完全由外国公司持有。 台积电是苹果公司（Apple Inc.）、辉达公司（Nvidia Corp.）及其他开发人工智慧（AI ）运算晶片企业的主要代工夥伴。 台积电和总部位於加州圣克拉拉的英特尔均拒绝置评。 白宫发言人则尚未回应置评请求。 在彭博社报导相关讨论後，英特尔股价周五缩小跌幅。截至美东时间下午 1:56，该公司 股价下跌不到 1%，至 24 美元，此前盘中一度下跌 5.3%。 尽管英特尔在过去五年内大幅落後於竞争对手，但仍然是个人电脑与伺服器产业中最常用 晶片的主要制造商。此外，它拥有美国企业所持有的最大且最先进的半导体生产网络。随 着华盛顿试图扭转数十年来半导体制造向亚洲转移的趋势，这些工厂已成为极具战略价值 的资产。 在前任执行长帕特·基辛格（Pat Gelsinger）的领导下，英特尔展开了一项雄心勃勃且 高成本的计画，试图重夺晶片制造领先地位。该公司获得了美国政府 79 亿美元的资助， 以支持其在四个州的项目。此外，英特尔还获得 30 亿美元资金，用於为美国军方生产晶 片，这些资金将随着英特尔工厂达成关键里程碑而陆续发放。截至 1 月，英特尔已收到 22 亿美元。 然而，这项计画至今未能吸引足够的外部客户，使其投资变得值得，特别是在俄亥俄州的 新厂。与此同时，英特尔自家产品的市场份额也在下滑，进一步加剧了其财务压力，恰逢 公司正需要大笔支出之际。由於董事会对基辛格的复兴计画失去信心，他在去年 12 月被 迫下台。 尽管英特尔一再强调其对美国工厂投资的承诺——即使同时缩减海外业务——但华盛顿官 员数月来一直在讨论备选方案。据《彭博社》报导，拜登政府内部的一些官员曾支持英特 尔与格罗方德（GlobalFoundries Inc.）达成潜在交易的选项。 这项合作将把专注於生产旧世代晶片的公司与英特尔的先进制程业务结合。然而，格罗方 德早已放弃尖端制程，且缺乏资金进行收购，因此这些讨论最终未能进一步发展，仅停留 在概念阶段。 据多位知情人士透露，拜登政府官员曾提出另一种可能性，即让台积电授权其制造技术， 供英特尔的工厂使用。然而，知情人士表示，台积电对这种最终可能有利於竞争对手的安 排并不感兴趣。此外，据多名消息人士透露，拜登团队整体上也不愿在这类交易谈判中积 极介入。 另一方面，川普在推动交易方面向来直言不讳，而台积电近期首次在美国举行董事会会 议，显示出其希望与新任总统维持良好关系的意愿。 川普多次指责台湾「窃取」美国的晶片产业，并威胁对外国生产的半导体徵收关税。他倾 向於透过关税措施来促进美国本土的晶片制造，而非依赖政府补助——这与《美国晶片与 科学法案》的做法不同。该法案於 2022 年通过，并使台积电获得 66 亿美元的补助，用 於支持其在凤凰城兴建的三座工厂。 不过，最早积极吸引台积电赴美设厂的，正是川普的第一届政府，而川普政府的高层官员 也一直强调其推动国内制造业发展的承诺，特别是那些处於美中竞争核心的关键技术。 美国副总统 JD Vance 本周稍早在巴黎举行的 AI 高峰会上表示，美国「将确保最强大的 人工智慧系统在美国建造，并使用美国设计和制造的晶片」。 台积电对与英特尔合作持开放态度，显示出与几个月前相比立场有所转变。去年 10 月， 台积电执行长魏哲家曾向分析师表示，公司对收购英特尔工厂不感兴趣。 而在今年 1 月再次被问及同样问题时，魏哲家并未直接回答，而是表示：「他们是我们 非常重要的客户，我很喜欢他们，他们对台积电的业务也非常关键。这就是我能说的全部 了。」 心得/评论： 传出入股英特尔的不只台积电，还会包括美国其他的晶片设计公司， 甚至美国政府也可能入股（有可能是川普说的主权基金，尽管钱不知道从哪来） 而英特尔也未必会接受。 由台积电去年10月至今年1月的回答转变，这件事可能之前就在私下谈了。 --

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