📊Executive Summary

As 2025 concludes, the semiconductor industry has experienced significant changes driven by geopolitical tensions, supply chain restructuring, and a surge in AI demand. Key themes include the transition from aspirational roadmaps to actual production, a shift in memory markets due to AI, and China's push for self-reliance amid export controls. Major players like Samsung and TSMC are recalibrating their strategies, with Samsung achieving yield improvements at the 2nm node but struggling with customer orders. TSMC is reassessing its fab plans in Japan, while Intel focuses on commercialization of its 18A process. The competitive landscape is evolving, emphasizing the importance of supply security and market access....