Source: Reuters

Samsung Display’s new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and Choi Joo Ho, the General Director of Samsung group in Vietnam.

Samsung Display is a unit of Samsung Electronics, the flagship of the Samsung group. Bac Ninh authorities and Samsung Display also signed on Sunday a memorandum of understanding of the OLED project, local media reported, adding the investment would raise the group’s total investment in Bac Ninh to US$8.3 billion from the current $6.5 billion.

Vietnam has over the last decade emerged as one of the most attractive production hubs for electronics companies. According to Choi, the Samsung group has established six manufacturing plants, one research and development centre, and one sales entity in Vietnam, with a cumulative investment of US$22.4 billion.

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Corporations such as Samsung, Nike, and Adidas have reportedly moved substantial portions of their production to countries like Vietnam and Indonesia. Samsung relocated its smartphone manufacturing to Vietnam, where it now contributes significantly to the country’s GDP.

Nike has shifted a considerable part of its footwear production to Vietnam as well, where over half of its shoes are now made. Meanwhile, Adidas has reduced its reliance on Chinese manufacturers, turning to alternatives in Southeast Asia. Even Apple is looking to Indonesia for its manufacturing facility.

Vietnam, Indonesia, and Thailand are among the key destinations attracting these relocations, offering lower labour costs, expanding manufacturing capabilities, and favourable trade agreements. Hyundai Motor Company will invest THB1 billion (US$28 million) to set up a facility to assemble electric vehicles (EVs) and batteries in Thailand, the country’s Board of Investment (BOI) said on 7 August 2024, according to Bangkok Post.

These moves are part of a broader shift as companies seek to mitigate risks associated with over-reliance on China and leverage the growing economic potential of Southeast Asia. Tensions over Taiwan pushing Hewlett-Packard to move a significant proportion of PC production from China, Nation Thailand quoted Nikkei Asia.

US-based IT giant Hewlett-Packard (HP) is looking to shift more than half of its PC (personal computer) production away from China to reduce potential geopolitical risks. HP also plans to set up a backup design hub in Singapore, the report said. 

Nikkei Asia cited multiple sources as saying that HP is in talks with suppliers about the move and aims to achieve its target in two to three years. The company has set an internal goal of eventually making up to 70% of its notebooks outside of China.

A major destination for the move is Thailand, said the report, adding that at least five HP suppliers are building new manufacturing facilities or warehouse hubs in the kingdom, and two have been increasing capacity there since the beginning of the year at HP’s request.

Nikkei Asia quoted an executive-level source as saying:

“It is certain that HP is betting big on building a production hub in Thailand. We have other Southeast Asian facilities to support the client, but they said it is not efficient enough, so we are building a new factory in Thailand now, as requested.”

Other sources said that in internal talks, several HP executives have been emphasising the emerging business opportunities in Southeast Asia and the Middle East while flagging the geopolitical risks of keeping production centered in China, due to years of US-China tensions as well as disruptions from Covid.

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Vietnam is in the top 10 for semiconductor exports, with 6% annual growth projected until 2027. This is in spite of the government’s (Ministry of Planning and Investment) recent report revealed after Vietnam started applying the global minimum tax of 15% in January, many multinationals operating or planning to enter the country sought financial incentives since their profits would be affected, but did not receive it and relocated to other countries.

Austrian semiconductor firm AT&S planned to invest in Vietnam and even carried out a survey of the country, but eventually shifted to Malaysia as Vietnam did not offer incentives or had the required number of skilled workers. The Ministry added expansion of some big high-tech projects has gone to the back burner while waiting for the subsidy.

Yet, Manufacturing Asia reported Vietnam’s capital Hanoi is taking steps to achieve its goal to become a hub for semiconductor production by 2050. This lofty ambition is part of Vietnam’s National Master Plan for 2021-2030.

Vietnam envisions itself to become an upper-middle-income nation by 2030, buoyed by developments and investments in science, innovation, technology as well as digital transformation. Given the existing US-China trade tensions on top of the growing global demand for chips, Vietnam is poised to develop as a semiconductor manufacturing hub. 

Vietnam is included in the top 10 in the world for the export of semiconductor devices and integrated circuits, with the industry predicted to grow at an annual rate of 6% until 2027. The country is also the third biggest semiconductor exporter to the US in 2023, reaching US$562 million up from US$321 million in 2022. 

The Southeast Asian nation already has attracted several international semiconductor producers who have established operations such as Infineon Technologies AG, Amkor Technology Group, Samsung, Qualcomm, and Texas Instruments. Samsung had invested a total of US$22.4 billion into the country’s high-tech sector. 

Hana Micron Vina has committed to invest US$1 billion to boost Vietnam’s chip production by 2025. Nvidia, one of the largest semiconductor producers in the world, targets setting up a base in Vietnam with the company already having invested US$250m in the Southeast Asian nation.

Minor Role

Vietnam’s contribution is considerably small when the entire supply chain is considered. The country mainly participates in the final stage of semiconductor production, focusing on assembly, testing, and packaging, and thus represents the lower value of the supply chain. 

The lingering challenge for the country is to elevate itself in the supply chain by developing its design and packaging capabilities to have greater influence in the global semiconductor industry. Hanoi has distinct advantages that can position itself atop the semiconductor supply chain given that it is strategically located in the centre of the Red River delta. 

The location is an important axis for political, economic, and scientific activities in Vietnam. Hanoi is also one of the leading localities for foreign direct investment (FDI). The city alone attracted US$1.7 billion in FDI in 2022, ranking it amongst the top seven destinations for FDI inflow in Vietnam.

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Source: Reuters

Samsung, the South Korean manufacturer said it has appointed Young Hyun Jun effective immediately, shifting him from the role as Head of its Future Business Planning Unit. The move is likely aimed at catching up in the market for top-end chips used in artificial intelligence such as high bandwidth memory (HBM) chips, an area where Samsung has fallen behind rivals such as SK Hynix, analysts said.

“This is a preemptive measure to strengthen future competitiveness by renewing the atmosphere internally and externally,” Samsung said in a statement.

Samsung’s market share in DRAM chips used in tech devices reached 45.5% in Q4 2023, according to data provider TrendForce. It lags, however, in the niche but increasingly important HBM chips segment where SK Hynix controls more than 90% of the mainstream HBM3 market. HBM3 is a fourth-generation HBM standard currently the most used for AI chipsets like those made by industry leader Nvidia.

Jun, 63, led Samsung’s memory chip business from 2014 to 2017 after working on the development of DRAM and flash memory chips. He was also the CEO of battery arm Samsung SDI from 2017 to 2022, overseeing a U.S. electric vehicle battery joint venture with automaker Stellantis .

“We expect him to overcome the chip crisis with his management know-how he has accumulated,” Samsung said.

Kye Hyun Kyung, who led the semiconductor division since 2022, will swap into Jun’s prior role as Head of its Future Business Planning Unit. Replacing such a high-ranking position in the middle of the year is unusual given most personnel changes at Samsung typically take place in the beginning of the year, analysts said.

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The world leader in semiconductor has a recorded 60% market share by Counterpoint Research. Its close rival Samsung trails behind by 13%. TSMC is known for serving Apple, Nvidia and Qualcomm for iphones, mobile chipsets respectively.

It is also the main supplier for Artificial Intelligence (AI) chips for Nvidia, and Advanced Micro Devices’ (AMD) processors. It even has clients in the Electric Vehicle (EV) sector, working with Tesla and Toyota.

The recent quake reportedly disrupted TSMC’s production as personnel had to evacuate and paused operations. Wall Street Journal quoted the company’s admitting the tremor did cause some machinery to be out of commission, and extreme ultraviolet lithography tools by ASML were unscathed. It added construction work resumed following inspection as at 4 April 2024.

Korea May Take the Spotlight

Bum Ki Son and Brian Tan, analysts at British investment bank Barclays, said in a report:

“We believe this could lead to supply disruptions in the tech supply chain. While we note some companies have reported limited damage and many of the semiconductor fabs should have been designed to withstand strong earthquakes, halts in some operations at high-tech semiconductor fabs could mean disruptions.”

“Some of the high-end chips need 24/7 seamless operations in a vacuum state for a few weeks. Operation halts in Taiwan’s northern industrial areas could mean some high-end chips in production may be spoiled,” they added.

Kim Dae-jong, Professor of Business Administration at Sejong University, cautioned that global chipmakers need to diversify the semiconductor supply chain concentrated in Taiwan to reduce risks. Professor Kim noted,

“Chip companies need to reduce their dependency on Taiwan and diversify their orders to other countries to lower the risk when facing a special crisis like this earthquake. Chip design companies should diversify their non-memory demand to Taiwan, Korea and the U.S. as a way to prepare for crises.”

The professor added the earthquake has also hiked the prices of memory semiconductors, indicating Samsung and SK hynix have reportedly halted memory chip price negotiations with clients because the supply of memory chips will decrease, leading to higher prices.

Another Group With Mixed Opinions

KB Securities advocated the importance of diversifying supply vendors. Kim Dong-won, KB’s analyst said,

“The production disruption in foundries caused by this earthquake is poised to serve as a pivotal moment, shedding light on the industry’s structure. With 69% of global foundry production concentrated in Taiwan, it underscores the risk associated with relying on a single supply chain.

TSMC’s Fab12 plant, where all production personnel evacuated following the earthquake, is encountering operational uncertainty due to damaged water pipes and system errors in certain front-end equipment. As a result, further inspections are necessary to assess the situation. The Korean semiconductor ecosystem is emerging as the optimal alternative for diversifying the memory and foundry supply chain, with long-term benefits expected.”

Lee Jong-hwan, Professor from Department of System Semiconductor Engineering at Sangmyung University commented is too quick to assume TSMC would suffer damage from Taiwan earthquake’s aftermaths. Professor Lee noted, the tremor is not likely to have a substantial impact on the foundry industry’s market share. This is because the foundry industry has long-term contracts with chip design companies, and it is difficult to suddenly change the order and design of the chips to be produced.

“The foundry business needs to supply products tailored to the design requirements of chip design companies. Stable supply is key in maintaining long-term cooperative relationships with customers, so it is difficult for TSMC to lose its customers just because of the earthquake damage,” said Professor Lee.

Nonetheless, he projected the memory semiconductor industry, Samsung and SK could benefit from the earthquake as the industry has a different structure. 

“The memory semiconductor industry may be affected by the earthquake. As production facilities of Micron Technology and Nanya Technology were reported to have suffered damage, rival memory semiconductor companies, Samsung Electronics and SK hynix, are likely to benefit from the market where chip production and supply are more directly connected,” Professor Lee added.

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Vietnam has pledged tax breaks and other perks to semiconductor companies that help to develop the sector in a Southeast Asian country, according to Japan’s Nikkei Asia. The article quoted Vietnamese Minister of Science and Technology Huynh Thanh Dat as saying in an interview that the national plan for chips will include industry grants through a science fund and joint state research with private companies like FPT.

Companies from Nvidia to Samsung are looking to expand their chip businesses in Vietnam, which is slated to receive millions from the US CHIPS and Science Act and already hosts Intel’s biggest global test and assembly factory. Meanwhile, Jose Fernandez, US undersecretary of state for economic growth, energy and the environment, told Nikkei Asia that Vietnam has attracted dozens of companies in the semiconductor field, and several more US players would jump in if the country had enough renewable energy to meet their green goals.

The country needs to strike technology transfer deals with nations dominating the chip sector, Dat said, adding Vietnam will sweeten policies to bring foreign experts into the workforce, which has faced a recent slowdown in foreign work permits. Toward that end, colleges are unveiling semiconductor classes in partnership with employers like Samsung.

Vietnam aims to train 50,000 engineers for the industry by 2030. The country has a strong foundation for science and tech education, but a dearth of advanced skills has limited a broader march up the electronics supply chain.

Fernandez said in an interview while visiting Vietnam that the country is a top target for US CHIPS Act subsidies, which will be a “badge” of confidence. The dollar amount will be based on an assessment expected sometime this month.

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Source: Counterpoint Research

Besides, the overall 2023 semiconductor revenue rankings saw some big changes from 2022, like Intel reclaiming the top spot from Samsung as the latter suffered a lot from the memory sector downtrend as well as lackluster smartphone business. AI provided positive news to the semiconductor industry, emerging as a key content and revenue driver, especially in the second half of the year. NVIDIA appeared to be the largest beneficiary, followed by AMD. Both will be growing their AI-related businesses in the coming years.

2023 was a year for semiconductor companies to fine-tune their strategies/outlook and manage inventory adjustments to prepare for the impending AI boom. According to Counterpoint’s semiconductor revenue tracker, only 6 out of the top 20 global semiconductor vendors reported YoY revenue growth.

The memory sector, in particular, experienced strong headwinds and was down 43% YoY in terms of revenue in 2023. We also found that the top 20 global semiconductor vendors contributed to 71% of the market, down from 76% in 2022 and showing a 14% YoY revenue decline.

Intel reclaimed its first place in semiconductor revenue rankings in 2023, though it reported a 16% YoY decline in its revenue largely due to a double-digit YoY shipment decline in both the PC and server segments. Samsung too was massively affected by the memory market slowdown in both DRAM and NAND segments, reporting a 38% YoY decline in its revenue.

The memory market was mainly hit by soft demand in the PC, server and smartphone segments as well as oversupply and excess inventory across the market. SK hynix and Micron, two other major players in the memory market, also reported huge declines in their revenues at 33% and 36% YoY, respectively.

NVIDIA was in the spotlight in 2023 thanks to the acceleration of AI deployments. We believe the company will continue to lead the semiconductor industry’s growth because of its high market share of general-purpose GPUs used in AI/high-performance computing. NVIDIA saw an 86% YoY revenue growth in 2023 to rank third in terms of revenue, its first-ever top-five position.

Commenting on the market dynamics, Senior Analyst William Li said, “In general, we believe artificial intelligence (AI server, AI PC, AI smartphone, etc.) will continue to be a major organic growth driver in the semiconductor industry in 2024, followed by the memory sector’s rebound due to normalizing oversupply situation and demand recovery. The automotive sector could be another driver for the market due to content growth, which was already a key revenue driver for Infineon and STMicroelectronics in 2023.”

Since the industry is at the end of the inventory correction cycle and the support from clients’ demand is relatively solid, supply constraints will likely be the key variants to keep an eye on. During its latest quarterly earnings call, the world’s largest foundry player, TSMC, maintained its solid capacity expansion plan for 2024. Counterpoint Research holds an optimistic view on its utilization rate in the coming quarters.

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Media outlets got a look of the ASML High-NA extreme ultraviolet (EUV) system. Intel Corp has placed orders and got the first one shipped to a factory in Oregon in late December. The company plans to start making chips with it late next year.

ASML’s machine can print lines on semiconductors 8 nanometers thick, 1.7 times smaller than the previous generation. The thinner the lines, the more transistors can be fitted on a chip, and the higher the processing speeds and memory.

ASML executives said the system will prove essential for artificial intelligence (AI), a technology notorious for the intensity of the processing it requires. AI will need “massive amounts of computing power and data storage. I think without ASML, without our technology, that’s not going to happen,” CEO Peter Wennink told Bloomberg. “It’s going to be a big driver for our business.”

ASML produces equipment needed to make the most sophisticated semiconductors, and demand for its products is a bellwether for the industry’s health. The Dutch company received record orders for its extreme ultraviolet (EUV) lithography machines in Q4 2023, showing optimism among the biggest customers for the technology, including Intel, Samsung Electronics Company and TSMC.

Installation of the first 150,000kg system required 250 crates, 250 engineers and six months to complete, ASML spokesperson Monique Mols said. The rise of generative AI over the past year, catalysed by OpenAI’s ChatGPT launch late 2022, has boosted expectations for semiconductor companies across the board. The so-called low-NA EUV machines, which ASML has been selling since 2018 cost €170 million.

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DIGITIMES noted Chinese semiconductor companies have been actively recruiting talent from South Korea and making strategic acquisitions and investments, triggering concerns within the South Korean semiconductor industry in the recent years. Given everything we have is powered by chip technology — from our smart devices to automotive , the competition can only get tighter and China is not inclined to be left behind in the competition. It brazen poaching of Korean talent is a strong message yet back-ended compliment to the latter country’s talent quality.

The semiconductor industry, being the backbone of technological advancement, and its success is inherently linked to the skill and knowledge of its workforce. South Korea, home to tech giants like Samsung Electronics and SK Hynix, possesses a rich supply of semiconductor talent coveted globally. However, the aggressive recruitment efforts from China’s tech firms have raised concerns despite known shortcomings.

Amid China’s mission to achieve semiconductor self-sufficiency, the republic strategically targeted Korea’s pool of skilled engineers and researchers. Offering lucrative incentives and promising career prospects, Chinese companies have lured talent away from their Korean counterparts.

On the other hand, instead of being judgmental toward China’s approach in building its talent pool, the “successful” poaching could be somewhat attributed to Korea’s lack of incentives to retain its current pool of skilled professionals. Like any poaching tactics, companies would offer attractive packages with benefits, and opportunities to work on cutting-edge projects.

It is said that the subject of ethics have come into the picture on the methods to amass skilled labour off the semiconductor powerhouses. However, China needs to understand that the engineers from Korea have shortcomings as well. Throughout 2023, Samsung got itself into a fair share of troubles with its semiconductor engineers.

Its semiconductor division infamously had confidential data mined by ChatGPT when the engineers needed help in coding. In other incidents, even minutes of meeting containing classified information got leaked by the chatbot used to get writing help. Another involved an executive stealing data to clone a chip factory in China.

In response to the poaching, Korean firms have ramped up efforts to retain skilled employees. Implementing incentives such as retention bonuses, career development programs, and fostering a conducive work environment have been pivotal strategies. Additionally, a renewed focus on innovation and R&D initiatives aims to bolster the local semiconductor industry.

Collaborative efforts between government, academia, and industry players have reportedly been instrumental in creating an ecosystem that fosters talent retention and innovation, mitigating the adverse effects of the talent drain. The semiconductor talent poaching saga poses a formidable challenge to South Korea’s tech sector.

While the allure of better opportunities and financial incentives from China remains a concern, South Korea stands resilient, fortifying its innovation ecosystem and talent retention strategies. While the semiconductor talent poaching saga raises alarm bells, it presents an opportunity for South Korea to reevaluate its approaches to foster innovation, and chart a course for sustained growth in the ever-evolving tech landscape. 

The question is timing — will the Korean firms wait till their key engineers are fleeing the coop before acting? After all, such initiatives involve substantial resources and they have to be attractive in the eyes of the engineers, not the employers.

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Tenstorrent sells AI processors and licenses AI and RISC-V IP to customers that want to own and customise their silicon. Both Hyundai Motor Group and Samsung have a strong history of product leadership and enjoy massive success in their respective markets.  

“The trust in Tenstorrent by Hyundai Motor Group and Samsung Catalyst Fund leading our round is truly humbling,” said Jim Keller, CEO of Tenstorrent. “It has been impressive watching Hyundai Motor Group become the third largest automaker in the world through their aggressive adoption of technology including their acquisition of Boston Dynamics, their joint venture with Aptiv, and now their investment in us.”

Jim Keller is a legendary CPU designer who took over as CEO of AI chip company Tenstorrent at the beginning of 2023, after serving as CTO for two years. His history includes stints at Apple, Tesla and AMD.

“Tenstorrent’s high growth potential and high-performance AI semiconductors will help the Group secure competitive technologies for future mobilities,” said Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office (GSO) at Hyundai Motor Group. “With this investment, the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development.” 

“Samsung has long been a leader in the electronics industry and they are the ideal partner to co-lead this round,” continued Keller. “We are excited by the opportunity to work together with Tenstorrent.” “Samsung Catalyst Fund invests in disruptive ideas that we believe can change the world,” said Marco Chisari, EVP of Samsung Electronics, Head of Samsung Semiconductor Innovation Center.

“Tenstorrent’s industry-leading technology, executive leadership, and aggressive roadmap motivated us to co-lead this funding round. We are excited by the opportunity to work with Tenstorrent to accelerate AI and compute innovations.” Funding will be used to accelerate the company’s product development, the design and development of AI chiplets, and its ML software roadmap.   

 

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The post Jim Keller From Tenstorrent Joins Forces With Hyundai And Samsung For AI Chiplets appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.