Experts have projected that cooperation between Taiwan's TSMC, the world's largest foundry (semiconductor contract manufacturing) company, and U.S. semiconductor corporations Intel will not be easy, despite pressure from the Donald Trump administration.
On the 16th, Taiwanese media, including United Daily News, quoted an anonymous expert who stated that foreign shareholders, who make up more than 70% of TSMC's shareholders, are likely to oppose cooperation with Intel. The expert noted that the Trump administration had proposed Intel acquisitions to U.S. corporations, but none were willing to step forward, and as an alternative, cooperation with TSMC is being pursued.
He emphasized that even if TSMC Chairman Wei Zhe is considering cooperation with Intel due to U.S. pressure, such significant investment decisions must go through the approval of the shareholders' meeting. In particular, it was projected that TSMC's foreign shareholders, who are well aware of Intel's deteriorating performance, would oppose cooperation out of concern for potential damage to shareholder benefits.
Another expert also analyzed that even if TSMC were to support Intel due to pressure from the Trump administration, it is more likely to proceed in the form of technological cooperation rather than equity investment or factory acquisition.
According to Taiwanese media, as of April last year, TSMC's shareholder structure consisted of 6.68% government institutions, 4.61% financial institutions, 4.48% other corporations, 72.06% foreign institutions and foreigners, and 12.17% individuals.
Meanwhile, Su Tzu-wen, who served as the Deputy Minister (equivalent to vice premier) during former President Tsai Ing-wen's administration, stated that the transfer of TSMC technology to Intel through a merger must be strongly rejected, calling it an 'unacceptable condition.'
He warned that such cooperation would not only harm TSMC's interests but also pose a risk to Taiwan's national security and weaken the 'Silicon Shield' (semiconductor shield). The Silicon Shield is a concept that asserts Taiwan's semiconductor industry is essential to the U.S. and Chinese economies, thus playing a role in deterring military attacks against Taiwan.
Earlier, Taiwanese media reported on the 14th that the Trump administration is pressuring TSMC to cooperate with Intel under the 'Made in America' policy.