Will TSMC's 'One-Dominant' Era End? Experts Reveal Soaring 2nm Yield at Samsung: A New Voice Emerging on Wall Street

For years, South Korea's Samsung and U.S.-based Intel have repeatedly claimed their technology rivals that of TSMC in the wafer foundry sector. However, due to persistently low yields, both companies have faced high production costs and weak customer order intake, causing their foundry businesses to become synonymous with losses. Now, however, signs suggest this industrial barrier may finally be cracking.

Financial fan page 'Fund Matters webzz' posted on Facebook, pointing out that with Samsung's significant improvements in capacity utilization and 2nm process yield, Wall Street may begin questioning TSMC's excessively high capital spending. The post warns that TSMC's stock price could enter a consolidation phase in the short term.

### Could Samsung's Capacity Utilization Reach 100% in the Second Half? 2nm Yield Surges Toward TSMC Levels

According to Korean media outlet Chosun Biz, citing industry sources, Samsung's current wafer foundry plant capacity utilization stands at approximately 70% to 80%. With continued growth in demand for HBM (High Bandwidth Memory) and expanding needs for advanced processes from major U.S. tech clients, utilization is projected to reach 100% in the second half of the year.

Moreover, large manufacturers such as Qualcomm, AMD (Advanced Micro Devices), and Google have begun cooperation negotiations with Samsung. While customer diversification is gradually progressing, the most notable development is Samsung's rapid improvement in technical yield.

'Fund Matters webzz' highlights data showing that Samsung's 2nm yield was only around 20% in the second half of last year but has now surged to 60% this year. Market analysts estimate that once Samsung's yield surpasses the 70% threshold, its 2nm process performance will match TSMC's current levels.

Although Samsung still lacks sufficient trust from foundry customers, the overall trajectory is clearly moving in a positive direction, according to the analysis.

### Is TSMC's Capital Expenditure Excessive? Experts: A Wave of Skepticism Rising on Wall Street

It will still take considerable time for the advanced process market to shift from TSMC's single-dominance to a more balanced competitive landscape. Additionally, TSMC continues advancing technologically, so Samsung may ultimately fail in its challenge.

Nevertheless, 'Fund Matters webzz' emphasizes that these developments provide enough grounds for Wall Street investors to start asking whether TSMC's capital spending has gone too far. They cite a similar case: although Google insists its increased capital expenditures are backed by clear customer demand and contracts for Google Cloud, Wall Street still chose to lower its target price.

Whenever a company spends heavily, capital markets naturally grow skeptical.

The analysis suggests that with a strong competitor like Samsung emerging, Wall Street will inevitably question whether TSMC can maintain full capacity utilization after building numerous new fabs. Such skepticism could lead to a re-rating of TSMC's price-to-earnings (P/E) ratio, making it likely that TSMC enters a prolonged stock price consolidation period.

From a pure investment standpoint, entering now might result in wasted time cost, the post cautions.