Counterpoint Research

A significant High-NA EUV milestone for @ASMLcompany TWINSCAN EXE:5000 at @Intel_Foundry Oregon facility. - Intel Foundry is now shipping at scale a subset of Intel Core™ Ultra Series 3 Panther Lake with select layers manufactured using ASML’s EXE High-NA EUV technology in Oregon. - Specific Intel 18A layers are now dual-qualified on High NA EUV in Oregon, - The yields are also super encouraging matching the existing NXE process. - High-NA EUV thus remains an option for future nodes, including Intel 14A, based on customer needs. Great proof point for both the companies and to lead the market with a flagship WFE and producing at scale. More here: asml.com/en/news/press-…

🚨 BIG AI MOMENT IN CHINA 🚨 This is a big tailwind for @Apple @Qualcomm and others the entire “on device AI” push in the largest smartphone market China According to the Global Times, Apple Intelligence has officially completed its generative AI mobile registration with the Cyberspace Administration of China (CAC) 🇨🇳. It will integrate @alibaba_cloud Qwen model for localized cloud AI experiences. What does this mean for the On-Device AI ecosystem in China? 1/ Apple & AI ($AAPL) This is a big moment for Apple to reset its growth in China as it can quickly become the poster child for AI experiences in mobile with Apple Intelligence doing its magic on the device (privacy) and cloud (via Alibaba QWEN). 2/The Upside for Qualcomm ($QCOM): Apple will kickstart a competitive "AI arms race" in China, local OEMs (Xiaomi, OPPO, Vivo, Honor) and startups like will StepFun and other upcoming will aggressively also look to push premium AI smartphones to compete. This directly drives massive volume and higher ASPs for @Qualcomm top-tier Snapdragon chips and to some extent @MediaTek as well. Upside for $TSM as well if market gravitates towards premium phones. 3/ The Real Catalyst = Memory Pricing: Even with regulation clearing up, a true smartphone supercycle depends heavily on DRAM supply and pricing. On-device AI requires massive memory upgrades (12GB+ minimums). If “Memoryflation” continues and consumers don’t align to new normal and defer their purchases will keep the device refresh cycle in check. 4/ The Challenge for Huawei: While Apple and others leverages advanced silicon and localized partnerships, Huawei faces a steep uphill battle and was immune until now. Will to see how Huawei can stay competitive to support heavy on-device AI workloads with lack of access to advanced chips. Big market competitive shift ahead for the China smartphone market and @CounterPointTR Rockstar team will keep an eye for you on who wins the upgrade cycle? 📱💥 #Apple #Qualcomm #Huawei #AI #Semiconductors #TechNews #AgenticAI

What does the public clash between Elon Musk and Alexandr Wang reveal about the AI race, and what does it mean for the future of the industry? Tarun Pathak, Research Director, Counterpoint Research, shares his perspective on the growing rivalry in AI and what it means for the industry's next phase, in conversation with @GaurieD on India Business Report