If $AMD wins, $TSM Advanced Foundry Process and Advanced Packaging win. Also a win for $DRAM as it packs 50% more memory than competitors. “AMD unveils its sixth-generation EPYC 9006 server CPU and Instinct MI455X GPU, expanding its AI portfolio across agentic AI, cloud computing, enterprise, and high-performance computing (HPC). … the move is expected to drive demand for TSMC’s advanced packaging technologies, including CoWoS-L and SoIC.” “AMD notes that the EPYC Venice processor has entered volume production on TSMC’s advanced 2nm process technology, while the MI455X is built using TSMC 2nm and 3nm FinFET technologies.” “The MI455X integrates 320 billion transistors using multiple advanced packaging technologies. Four Accelerator Complex Dies (XCDs) are hybrid-bonded onto each Fabric and Cache Die (FCD), while the two FCDs are interconnected with 12 HBM4 stacks, two I/O dies, and each other using TSMC’s CoWoS-L packaging technology.” “Some high-end EPYC Venice models are reportedly expected to adopt TSMC’s CoWoS-L packaging and be manufactured at TSMC’s Kaohsiung Fab 22, with production expected to ramp in the second half of 2026 to support growing demand for agentic AI servers.” “CoWoS-L capacity remains tight. … some Chip-on-Wafer (CoW) orders are expected to be outsourced to ASE, while TSMC and OSAT providers continue expanding CoWoS capacity with visibility extending through 2027 and 2028.” “AMD’s MI450, MI455X, and future AI chips are expected to boost SoIC (System-on-Integrated-Chips) demand. Institutional investors … estimate that TSMC’s SoIC capacity will reach 15,000–20,000 wafers per month by the end of 2026, before doubling again by the end of 2027.” “AMD’s Instinct MI455X adopts HBM4 memory, increasing capacity by 50% from 288GB of HBM3E on the MI350 series to 432GB. Memory bandwidth also rises to 22.3 TB/s, up 2.8× from 8 TB/s on its predecessor.” “The MI455X delivers up to 40 PFLOPs of FP4 and 20 PFLOPs of FP8 performance—roughly doubling the compute capability of the MI350 series. By comparison, Nvidia’s Rubin GPU provides 50 PFLOPs of FP4 and 17.5 PFLOPs of FP8 performance.” (Nvidia Rubin is noted with 288GB HBM4 and up to 22 TB/s bandwidth.)