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China’s Gen Z investors are turning fund managers into social media stars

On a fan community page on Chinese social media platform Weibo, hundreds of users have posted comments and pictures, some covered in little red hearts, to express their admiration for a star they affectionately call Kun Kun. “Kun Kun flies bravely, iKun will always follow him; Kun Kun never gets old, and will remain a blue-chip till the end,” some users wrote alongside the picture. “Kun Kun,” whose full name is Zhang Kun, is neither a pop star nor actor. Instead, he is one of China’s most prominent fund managers who oversees around 120 billion yuan ($18.6 billion) in assets at E Fund Management, an established Chinese asset management firm. Zhang’s followers, who label themselves “iKun,” (“i” is a homophone for the Chinese word love), have also created accounts on Weibo posing as his “global fan clubs.” “Kun Kun, I would like to accompany you for many, many years,” a follower wrote. “Let’s witness both the bull and bear markets, but still return with young hearts.” ...

TSMC, Samsung to spend a fortune to make sure that this "law" isn't repealed

The top two foundries on the planet belong to Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung. Both are in a race to keep Moore's Law alive; this is the observation made by Intel co-founder Gordon Moore in 1965 that the number of transistors inside an integrated circuit doubles every year. In 1975, he revised his observation and said that the number of transistors doubles every other year. This is important because the more transistors that fit inside a chip, the more powerful and energy-efficient it is.

Both TSMC and Samsung are spending huge sums of money on EUV




Keep in mind that this battle between TSMC and Samsung is over the production of chips for big-name clients that design their own components but don't have the production facilities or know-how to manufacture them. For example, TSMC counts Apple, HiSilicon (Huawei), and Qualcomm among its big-name customers. This is the type of business that Samsung hopes to grow through the use of EUV and smaller process nodes. For example, Samsung's vice president of foundry business Yoon Jong Shik said, "companies like Amazon, Google, and Alibaba, which lack experience in silicon design, are seeking to make chips with their own concept ideas in order to boost their services. I think this would bring a significant breakthrough for our non-memory chip business." But Samsung is also aiming to churn out chips that TSMC might not have the capacity to make such as Qualcomm's 5G modem chips and AI chips for smartphone manufacturers and other companies.

It is interesting that while Samsung was supposed to manufacture the Snapdragon 865 Mobile Platform and the Snapdragon 765/765G for Qualcomm, it now appears as though Qualcomm will turn to TSMC to produce its 2020 flagship chipset. While the Snapdragon 765/765G chips are still thought to be coming from Samsung, Qualcomm is reportedly concerned about Samsung stealing its designs for use with its own Exynos chipsets.

Samsung currently owns 17.8% of the foundry business which is good enough for second place behind TSMC's massive 52.7% slice of the chip-making pie.

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