台积电正在考虑在得州新建一座包含多座晶圆厂的园区，每座晶圆厂的成本至少为200亿美元，前提是国会延长35%的制造业税收抵免。其唯一的欧洲工厂——德累斯顿合资项目——总投资超过100亿欧元，将采用28纳米至12纳米制程，而不是用于人工智能芯片的制程。
TSMC is weighing a new Texas campus of multiple fabs, each costing at least $20B, contingent on Congress extending a 35% manufacturing tax credit. Its only European plant, the Dresden joint venture, totals above EUR 10B and will run 28nm to 12nm nodes rather than anything used for AI.
台积电正考虑在得州建设一座价值数百亿美元的园区，以生产更多人工智能芯片。园区内每座晶圆厂的成本至少为200亿美元。其整个欧洲项目的预算超过100亿欧元。
TSMC is eyeing a Texas campus worth tens of billions, to build more AI chips. Each fab on it would cost at least $20B. Its entire European project is budgeted above EUR 10B.
据彭博报道，知情人士表示，公司正在海外寻求扩大产能。目前相关计划仍处于早期阶段，台积电表示不会置评市场传闻。
The company is looking at more overseas capacity, according to people familiar with its plans, as Bloomberg reported. Plans are early, and TSMC said it has no comment on market rumours.
台积电已承诺在亚利桑那州投资2650亿美元，建设十座晶圆厂、两座封装厂和一座研发中心。今年，北美市场贡献了台积电超过75%的晶圆收入。
It has committed $265B in Arizona, building ten fabs, two packaging plants and a research centre. North America brought in more than 75% of its wafer revenue this year.
最终决定取决于国会。35%的制造业税收抵免要求项目在12月底前开工，而延期目前没有在今年获得通过的途径。参议员迈克·克拉波和罗恩·怀登表示，他们致力于推动延期。
The decision depends on Congress. A 35% manufacturing tax credit requires construction to start by the end of December, and no extension has a path this year. Senators Mike Crapo and Ron Wyden say they are committed to one.
欧洲只有一座台积电工厂，而且需要补贴才能建成。2024年8月，欧盟委员会批准向德累斯顿合资项目提供50亿欧元国家援助，而项目总投资超过100亿欧元。
Europe has one TSMC plant and needed a subsidy for it. Brussels approved EUR 5B in state aid for the Dresden joint venture in August 2024, against a total above EUR 10B.
该工厂每月将生产4万片晶圆。设备将在今年下半年运入，项目将于2027年投产，并在2029年达到满产。
That plant will make 40,000 wafers a month. Equipment moves in this half, production starts in 2027 and full capacity arrives in 2029.
它不会生产人工智能芯片。德累斯顿厂区将量产28纳米和22纳米CMOS芯片，以及16纳米和12纳米FinFET芯片，与英伟达和苹果采购的制程相比落后数代。
It will not make AI chips. Dresden runs 28 and 22nm CMOS alongside 16 and 12nm FinFET, several generations behind the nodes Nvidia and Apple buy.
仅得州的一座晶圆厂，成本就约为整个德累斯顿项目的两倍。得州已经拥有三星的芯片综合体、马斯克旗下的Terafab，以及德州仪器的扩建项目。台积电考虑的另一个选址是新加坡，而不是欧洲任何地方。
A single Texas fab would cost about twice the whole Dresden project. Texas already holds Samsung’s chip complex, Musk’s Terafab and a Texas Instruments expansion. The other site TSMC weighed is Singapore, not anywhere in Europe.
欧洲也有自己的成就。英飞凌于7月在德累斯顿启用一座价值50亿欧元的功率芯片晶圆厂，并获得欧盟10亿欧元支持，这是该法案的首个胜利。
Europe’s record is not empty. Infineon opened a EUR 5B power chip fab in Dresden in July on EUR 1B of EU support, the act’s first win.
其背后的目标将无法实现。欧盟希望到2030年占据全球20%的市场份额，而2022年的份额仅为9.8%，欧盟自身的预测也仅为11.7%。
The target behind it will be missed. The EU wants 20% of the global market by 2030, held 9.8% in 2022, and its own forecast puts it at 11.7%.
欧洲审计院去年4月称，实现这一目标的可能性极低。业界已要求出台《芯片法案2.0》，欧盟委员会目前正在起草。
The European Court of Auditors called the goal very unlikely in April last year. Industry has asked for a Chips Act 2.0, and the Commission is drafting one.
首部法案拟动员的860亿欧元并非主要来自欧盟资金。欧盟委员会将出资5%，其余部分由成员国和私人投资者承担。
The EUR 86B the first act was meant to mobilise is mostly not EU money. The Commission funds 5%, with member states and private investors covering the rest.
无论台积电在海外建设什么，它都会把最先进的研究留在台湾。欧洲面临的问题并非能否参与最先进技术的研发，而是下一座园区选址时，它能否 still 在场。
TSMC keeps its most advanced research in Taiwan whatever it builds abroad. The question for Europe is not the leading edge. It is whether it is in the room when the next campus is picked.