Y.K@株&1口馬主

台湾で起業12年目半導体、台湾16年目。基本相場張ってます。キャロット1口馬主。所有馬: グリューヴルム、バースライト、スイートリディア、ジョーティス、コンセッションズの25、ブリンクの25

[Y.K@株&1口馬主 @foundertrader]

今年2回台湾に来ている
GPUを設計している
TSMCが持っているエヌビデアのキャパがAMDに移る可能性もあるね
ファブレスの強いみ活かすかも
株価的にはこちら期待値高いなぁ

[Fairice @yibingsg]

黄仁勋的表亲苏姿丰：一个把AMD从悬崖边拉回来的女人，如今成了英伟达最值得警惕的对手！

谁能想到，全球AI芯片领域最引人注目的两位华裔掌门人，竟然还有亲戚关系！

一个是英伟达的黄仁勋，一个是AMD的苏姿丰（Lisa Su）。两人是隔了一代的表亲，却分别掌管着全球最重要的两家芯片企业，在商场上针锋相对。

1969年，苏姿丰出生于台湾台南，3岁左右随父母移民美国。小时候，她就喜欢拆卸遥控汽车和各种电子设备。后来进入麻省理工学院，一路读到电子工程博士。

她先后在德州仪器、IBM和飞思卡尔工作，参与过先进半导体技术研发，逐渐从工程师成长为企业管理者。

2012年，苏姿丰加入AMD。当时这家公司处境艰难，市值不足20亿美元，个人电脑市场萎缩，英特尔和英伟达两大竞争对手步步紧逼。

2014年，她正式出任AMD首席执行官。

接下来发生的事情，堪称半导体行业最精彩的商业逆袭之一。

她果断调整战略，放弃部分低利润业务，把资源集中到高性能计算、服务器处理器和数据中心。随后，Ryzen锐龙处理器横空出世，EPYC霄龙服务器芯片打入云计算市场，AMD逐渐从英特尔手中夺回市场份额。

亚马逊、微软、谷歌等科技巨头纷纷采用AMD的服务器芯片。到2020年，AMD市值已突破1100亿美元。

2024年，《时代》杂志将苏姿丰评为年度CEO。

更值得关注的是她与黄仁勋的关系。

按照《商业内幕》的介绍，苏姿丰的外祖父是黄仁勋母亲的哥哥。两人虽然都出生于台湾、成长于美国，却直到各自事业发展起来之后才真正相识。

黄仁勋还曾拿这段亲戚关系开玩笑：

“我们做演讲，整个市场都上涨；她做演讲，我的股价就下跌。”

一句玩笑，道出了两家企业之间激烈的竞争。

不过，苏姿丰的管理风格与黄仁勋颇有不同。

2025年，有分析机构公开批评AMD的GPU软件生态不如英伟达。苏姿丰没有恼羞成怒，而是在第二天主动与分析师进行了长达90分钟的交流。

她随后表示：“即使是批评，反馈也是一份礼物。”

2025年10月，AMD又宣布与OpenAI达成重大合作，计划部署总计6吉瓦的AMD GPU，进一步向英伟达的AI算力霸主地位发起挑战。

如今，《商业内幕》11月12日更新的报道甚至提到，随着黄仁勋辞职风波发酵，有行业观察人士开始把苏姿丰列为英伟达外部接班人的潜在人选。不过，这只是外界猜测，并不意味着她有意离开AMD。

苏姿丰的私人生活则相当低调。丈夫Daniel Lin很少出现在媒体报道中，她平时喜欢拳击训练，每晚通常只睡五六个小时。

在我看来，苏姿丰最令人佩服的地方，不是她与黄仁勋有什么亲戚关系，而是她用十多年时间证明了自己的能力。

黄仁勋创造了英伟达的辉煌，苏姿丰则亲手完成了AMD的重生。

一个建立帝国，一个拯救危局。

真正值得讨论的不是这对表亲谁更厉害，而是如果有一天苏姿丰真的接掌英伟达，全球AI芯片产业会发生怎样的变化？

[Y.K@株&1口馬主 @foundertrader]

バースライト　
吉田隼人やったら勝ってたな

[Darrell Dai @darrell_dai]

I’ve decided to leave NVIDIA. There are a few things I want to say.

As a robotics engineer at NVIDIA, I have seen Jensen as much more than the company’s CEO.

I admire his willingness to invest in a future that was not yet obvious. He committed to CUDA long before the deep learning boom and positioned NVIDIA for AI before it became everyone’s priority. Those decisions helped build the infrastructure that powers today’s AI.

I have seen that same vision in physical AI: investing in robotics, sharing open-source tools and projects, and building computing platforms that bring AI into the physical world. This is the work I do every day—and a future I believe in.

But what matters most to me is the culture he helped build.

Engineers are encouraged to explore, take risks, and learn from mistakes. Jensen reads employees’ Top 5 emails, follows their work, and engages directly. In a company this large, that connection matters. It makes an individual engineer feel that their ideas can still be heard.

That is why this has been so disappointing.

I do not have all the facts surrounding the allegations, and I cannot prejudge the investigation. My admiration for Jensen does not put him above scrutiny.

What I find difficult to accept is having to come to terms with his departure before receiving an explanation that helps me understand it. What this means for our direction, our culture, and the people doing the work remains unclear to me.

I have felt that engineers’ perspectives matter here. On this decision, I have not felt heard. That gap has been more painful than I expected.

I understand that some information cannot be shared immediately. But that does not erase the feeling of being left outside a decision that affects the company we help build every day.

A company’s greatness comes from its leadership, its governance, and the people who turn its ambitions into reality. Employees’ trust and sense of belonging are part of that, too.

Jensen’s vision and the engineering culture he shaped were important reasons I wanted to stay. His departure led me to decide that my own chapter here should also come to a close.

I leave with sadness and gratitude. The colleagues I have worked with, and the work we believed in together, will always matter to me.

These are my personal views.

[寂寞的乔丹 @hhp121222]

老黄做生意的手法，中国人很熟悉，相当的老派，就是传统的中国商人风格，很江湖，到处喝酒，拜不拜把子再说，但就是那意思，人情世故那一套。

英伟达不管换了谁做CEO，都搞不定老黄的供应链。你要注意，这条供应链跟老黄的出身有至关重要的关系，都是中国人和韩国人，老黄跟他们有先天的亲近，血浓于水，很多人瞧不上这种，但这就是生意，生意其实就是人情世故。

尤其是台湾那边其实就是闽商那套，个人之间的信任超过合同，甚至没合同，几百亿美元的多年生意就已经敲定了。在他们的生意经里，白纸黑字的合同就是个摆设，甚至压根就不签合同。几百亿美金的产能分配，靠的是啥？靠的是几个老头子坐下来喝杯茶、抽根雪茄，拍着胸脯说一句“兄弟，这批货我一定优先给你留”。第二天，全厂的机器就开始为你连轴转。

英伟达完蛋了，没人能在亚洲重新接手这样的供应链江湖，这就是马上发生的事情——你可以说老黄不正规，但他的办法能办事。你弄一帮白皮来和中国台湾人、韩国人一本正经法务出合同，根本进不去这个亚洲生意江湖。

[Antfeed @antfeedapp]

NVIDIA DIDN'T JUST LOSE ITS STEVE JOBS. IT LOST ITS TIM COOK TOO

"Jensen is the one that got them building. He's the one that got the whole supply chain geared up."

"If it wasn't for Jensen Huang, the number of chips in the world today, the number of like all this stuff would be much much less." - ben thompson, sharp tech podcast

what i don't think people fully appreciate about losing jensen huang is that nvidia isn't just losing its ceo. it's losing the guy who spent over 30 years building relationships with the people who actually make the hardware behind this entire ai boom.

think about apple for a second.

apple had steve jobs, who imagined the next generation of technology, and tim cook, who turned that vision into hundreds of millions of products by building apple's supply chain in china, managing asian suppliers, and navigating tensions between washington and beijing.

jensen, in many ways, was (and arguably still is) both.

he bet on programmable gpus, cuda, accelerated computing, and eventually ai long before most people caught on. but he was also the guy flying across asia, convincing suppliers to make those ambitions possible.

there's a reason jensen spent so much time in taiwan with tsmc, and more recently having fried chicken and beer in seoul with samsung's jay y. lee, while building closer ties with sk group chairman chey tae-won.

those dinners weren't just for the cameras.

'personal relationships' matter in business everywhere, obviously. but in EAST ASIA, where political uncertainty, geopolitical tensions, and changing economic realities have long shaped business, there's another layer to all this.

jensen himself once said this about tsmc:

"Three decades, I don't know how many tens, hundreds of billions of dollars of business we've done through them (TSMC), and we don't have a contract. That's pretty great." - lex fridman podcast

which reminds me of something i wrote earlier about apple and its chinese suppliers.

apple takes contracts, rules, and standards almost religiously. foxconn and tsmc operate under strict commercial agreements too. yet apple's hardware empire also rests on decades of personal relationships and mutual dependence with its asian suppliers.

this goes back to the difference between western thinking rooted in 'abstract rules and principles' and east asian thinking grounded more in 'concrete realities and human relationships'.

in western capitalism, we tend to think in terms of contracts, spot prices, the lowest bidder, and expected returns. things we can measure, model, and put into legally binding agreements.

all of that matters in asia too, obviously, but it doesn't capture everything.

sometimes it's the person across the dinner table. someone you've known for 20 years, who kept his promises through bad times, and who you trust enough to bet billions on an uncertain future.

you can price a wafer, negotiate an hbm supply agreement, and model the return on a new fab.

but how exactly do you put a price on 30 years of trust?

tsmc, samsung, sk hynix, and the broader asian supply chain weren't just responding to nvidia's purchase orders. they were committing billions in capital and manufacturing capacity to an industry whose future was still uncertain.

jensen was personally convincing them that this "ai thing" was real, through years of working relationships and his keynotes at gtc, computex, and other events, where he was effectively telling the entire supply chain where nvidia was headed.

of course, these companies had their own perfectly rational reasons to invest. i'm not suggesting the "ai boom" happened because jensen had a few dinners and drinks with asian executives lol.

when the future is uncertain, personal trust can be just as rational as economic calculations when deciding whether to risk billions.

just look at apple. its contracts with suppliers kept changing, yet the relationships endured, with decades of hands-on involvement from tim cook.

which brings me back to nvidia.

apple had months, if not years, to prepare for life after steve jobs. nvidia had what, two weeks? a company whose vision, engineering, supplier relationships, and china strategy all revolved around jensen himself.

and while nvidia has plenty of capable executives, decades of personal trust and judgment don't automatically transfer to a new ceo, whether promoted from within or brought in from outside the company.

which is why i'm skeptical when people assume everything will carry on as usual simply because the ai boom is too big to stop.

"ai demand" may keep growing, though that doesn't necessarily mean nvidia will retain the same bargaining power or supplier relationships if the ai boom loses steam, the memory cycle turns, or geopolitical tensions worsen.

jensen wasn't just running a chip company. he was building relationships across asia, navigating the politics of washington and beijing, and shaping the next technological revolution.

so who on earth is going to fill that gap now?

and what if some of nvidia's biggest advantages were 'never transferable' in the first place?

#Nvidia #JensenHuang #TSMC #Samsung #SKHynix #HBM #Semiconductors #DRAM #AI

[Y.K@株&1口馬主 @foundertrader]

半導体会社の経営について、技術への深い理解がなければ、経営は難しいと思います。

[Yishan @yishan]

It's a pretty good sign of how out-of-touch the board was when they made the decision to get rid of Jensen. The nearly certain downstream effect is the collapse of NVidia:

1) 60 direct reports
2) New CEO is not going to be able to do 60 direct reports
3) Puts in traditional management structure
4) 80-90% of those reports get layered
5) They don't like it
6) They are all getting recruited hard by competitors
7) Most of them will leave (or retire, lol)
8) Their reports will also leave
9) Optional: replace them with second-tier players
10) Company collapses

If they are lucky, they will get a Marissa Mayer who comes in and engineers a $4B sale to Verizon for the remaining IP.

[ける🐸 @keru_career]

社員をクビにしないエヌビディアのCEO。
人を使い捨てにしてる会社に必要な視点はこれ。

[Y.K@株&1口馬主 @foundertrader]

私の半導体会社のビジネスモデルはファブレスです

[Y.K@株&1口馬主 @foundertrader]

ジェンスンが、新しい会社でGPU作るから出資してくれって言ったらゴッツ金集まりそう〜
そして大半のキーエンジニアも戻って来そう

ファブレスの強みですね

[Y.K@株&1口馬主 @foundertrader]

@ruanchan777 とりあえず、無事で何よりです〜！

[Y.K@株&1口馬主 @foundertrader]

@blackright0 俺自身のビジネス価値観や商売方法を育ててもらったのは台湾。これ読んだらジェンスンスタイルだわ

[Y.K@株&1口馬主 @foundertrader]

半導体会社の経営をする上でエンジニアが一番重要である

[Beau Montgomery @IamSinovuyo]

🚨 THE REAL DANGER ISN’T THAT JENSEN HUANG WAS PUSHED OUT.

THE REAL DANGER IS THIS:

Nvidia’s core engineers are already saying it out loud:

“If the board doesn’t bring Jensen back,
we’re going straight to SpaceX and Terafab.”

And they’re claiming Elon has already reserved seats for them.

This isn’t normal employee frustration.
This is a public warning that Nvidia’s soul could walk out the door.

On one side, the board is fighting its own founder.
On the other, Elon is standing there with open arms saying “you’re welcome anytime.”

If this letter is real,
the next few days could rewrite the entire AI chip landscape.

History rarely gives second chances.
This time, it might be happening in real time.

[Y.K@株&1口馬主 @foundertrader]

我々は半導体産業において、技術開発ロードマップを見ながら自社製品の開発をしている

そのロードマップを支配しているのがエヌビデアのジェンスンファンだとしたら、

もし新しいboardメンバーによってそのロードマップが書き換えられたとしたらマジやべー

[三个三 @3three_AI]

说真的，想学商业知识，不如听听黄仁勋16年前在斯坦福的创业分享。

刚又听了一遍，比上两年MBA还值呢

[Zac @Zac_labs]

Who the hell does hundreds of billions of dollars in business without a contract?

Jensen Huang and TSMC. That’s who.

“Three decades, I don’t know how many tens, hundreds of billions of dollars of business we’ve done through them, and we don’t have a contract.”

Morris Chang even offered Jensen the CEO job at TSMC.

Can the new CEO Colette drink, do a Chinese-style 干杯 (bottoms up) roundtable dinner or Korean toast 건배 (geonbae), and replicate 30 years of relationships?

Who ever that pulled this shit will be remembered on the wrong side of history. Now let's all sign the letter to reinstate Jensen.

[Tsubame @Tsubame33785667]

未来において「腫瘍」という言葉は消え、老化のプロセスはデジタル化される——ミチオ・カク氏はそう主張する。皮膚や骨、血管だけでなく、膀胱や気管などの再生医療も進んでいる。病気になった臓器を治療するだけでなく、新品に交換できる時代がやってくるのだ。肝臓も例外ではない。
ミチオ・カク「皆さん、今日私がお伝えしたいのは、将来、英語から「腫瘍」という言葉が消えるということです。私たちは「コンピューター」という言葉を使わなくなります。「交通事故」という言葉も使わなくなります。そして将来、「腫瘍」という言葉も使わなくなるのです。
そして、次にデジタル化されるのは老化のプロセスです。私たちはすでに、人体の多くの臓器をデジタル化できるようになっています」
（画像）
カク「これは耳です。あなた自身の細胞を使って、研究室で培養した耳です。現在では、皮膚、骨、軟骨、血管、心臓弁を培養できます。膀胱全体を作ることも、気管を作ることもできます。次に培養される臓器は、まだ実現していませんが、肝臓です。ですから、会場にいるお酒好きの皆さん、希望を持ってください。将来、私たちは肝臓を培養できるようになるのです」

[草祭 @caojitw]

就對美國安全的重要性而言，台積電一點都不輸給輝達，甚至比輝達還重要。輝達的AI晶片之所以强大，是因爲背後有台積電及整個“台灣非紅供應鏈”在支持，否則不會有輝達和黃仁勛的成功。
此次黃仁勛事件爆發後，到目前為止張忠謀還沒為他說話，而台積電是唯一有影響力能逼迫Nvidia董事會讓他復職的公司。

[Trader壹身武艺｜币安返佣🔶BNB @0xTraderYi]

黄仁勋在台湾讲述如何依靠台积电起死回生的。

黄仁勋透露，他最初是通过黄页上的号码冷call联系上台积电创始人的。

“我听说台湾有这么一家公司，当时叫台积电和联电。当然，它们本身也是相当落后的公司，勉强维持生计。”

“台积电当时大概只有3亿美元左右吧，差不多那个规模。那是个小小的公司。我听说有个人叫张忠谋。于是我就试着打电话给他们美国的办公室。”

“那个年代还有黄页。我查了一下，台积电。有个号码。我拨了那个号码，是录音留言。我留下了我的名字和号码，说了几句关于英伟达的事：我们是一家新创公司，正在开发计算机图形芯片。我打了好几次电话。没人回电。”

“于是我最终给张忠谋写了一封信。很长时间没消息，然后有一天晚上6点左右，这个人打电话来，说‘我是台积电的张忠谋’。”

“与此同时，我办公室外面的人都在玩电子游戏，他们大笑大叫。‘嘿，安静点！是张忠谋！’我太高兴了，因为创始人居然亲自回电给我们，因为嘿，也许我们就不用死了。”

“于是我们聊了起来，他邀请我去台湾。我回到了台湾，那一切的开始。不仅仅是那次合作，而是整个产业。”

[Y.K@株&1口馬主 @foundertrader]

技術開発が多岐にわたり一社でとてもできない

分業があったおかげで技術の進歩が革新的に進んだ

日本は下請けなどサプライヤーを叩く傾向が今でも非常に強いが、
サプライヤーを大切にし、一緒に儲けようが台湾ビジネスである

[timon @Timon_spirit]

Mega Seven里，只有黄仁勋在任时的Nvidia，仍把芯片与数据中心供应链留在台湾，其余都力主回美国。

英伟达与台积电近30年合作，从未签过一份合同。

这在西方人眼里很难理解，但黄仁勋的见解是：
造芯片不是买现成商品，而是和代工厂一起摸索未知。工艺、良率、封装随时在变，任何想把一切写死的合同，都会越具体越脆弱。the more specific, the more brittle

所以黄仁勋选择rough justice：有时英伟达占便宜，有时台积电占便宜，几十年拉长看双方都赢。只要对方真心想让你成功，就比一堆法律条款更可靠。

张忠谋当年承诺“如果合作，我们会为你排除一切障碍”，台积电真的做了30年。这种说到做到的信用，本身就是最硬的保障。

西方人很难理解这套东方商业逻辑。它源自儒家伦理与华人关系文化，在复杂制造与长期合作中被反复验证。所以新上任的白人CEO能明白到这一层吗？

[timon @Timon_spirit]

Mega Seven里，只有黄仁勋在任时的Nvidia，仍把芯片与数据中心供应链留在台湾，其余都力主回美国。

英伟达与台积电近30年合作，从未签过一份合同。

这在西方人眼里很难理解，但黄仁勋的见解是：
造芯片不是买现成商品，而是和代工厂一起摸索未知。工艺、良率、封装随时在变，任何想把一切写死的合同，都会越具体越脆弱。the more specific, the more brittle

所以黄仁勋选择rough justice：有时英伟达占便宜，有时台积电占便宜，几十年拉长看双方都赢。只要对方真心想让你成功，就比一堆法律条款更可靠。

张忠谋当年承诺“如果合作，我们会为你排除一切障碍”，台积电真的做了30年。这种说到做到的信用，本身就是最硬的保障。

西方人很难理解这套东方商业逻辑。它源自儒家伦理与华人关系文化，在复杂制造与长期合作中被反复验证。所以新上任的白人CEO能明白到这一层吗？