Recommendation 04
Prologue: Securing AI and Semiconductor Technology is a Matter of Survival 13

PART 1

Investment in the strongest AI revolution

Chapter 1: Where is the Semiconductor Cycle Standing? 34
The AI ​​Revolution and Semiconductor Investment Strategies Beyond 2024: 34
Where is the semiconductor cycle at? 40
It is written as Nvidia and read as 'Godvidia' 42
Big Tech's AI Performance Depends on NVIDIA Chips 44
How Much Will Demand for AI Semiconductors Increase in the Future?
OpenAI's Sam Altman firing turned into a blessing in disguise for Microsoft 49.
Microsoft and Apple's market caps reverse 50%
[AI Revolution Investment Checkpoints] 51 Companies That Ranked #1 in Market Capitalization on the New York Stock Exchange in 1998

Chapter 2: M7 Big Tech's AI Technology War 52
OpenAI's Chat-GPT 60: A Signal for the AI ​​Revolution
Chat-GPT's Competitor, Google Gemini 64
Who Will Become Big Brother? It All Depends on the Development of General-Purpose AI 67
From large-scale language models to large-scale multimodal models 70
Generative AI: Big Tech's Arms Race Intensifies 71
AI alliances among big tech companies are gaining momentum.
Sora, the Beginning of the Video Generation AI Revolution 74
The Key to On-Device AI: Small-Scale Language Models 77
What services are possible with AI? 78
How Deep Learning and Transformers Became the Trends of AI 79
[AI Revolution Investment Checkpoints] 2 Key Features of the Transformer Model 83
The AI ​​revolution will benefit companies that have internalized their operating systems.
AI Training Data Is Getting More Expensive, But Big Tech Is Laughing 85
The AI ​​Revolution Is Changing the Content Industry 87
How AI Revolution Startups Survive 89
90 Challenges and Opportunities Presented by the Evolution of AI Technology
In the near future, AI will boost economic growth.
Not only semiconductors but also AI are security assets 93
How is the AI ​​value chain structured? 94
The rapidly growing AI server market 96
The server market is centered on AI.
What challenges are facing building infrastructure for AI market growth?

Chapter 3: NVIDIA, the Leading Force in the AI ​​Revolution 101
You won't miss a single thing in the AI ​​revolution. 105
Nvidia is also targeting the custom chip market.
The Secret Behind NVIDIA's Expensive AI Accelerators: CUDA 112
Performance exceeds expectations, exceeding investor expectations.
Who bought the most NVIDIA AI accelerators? 115
NVIDIA 115 Accelerates AI Ecosystem Expansion
[Ashin's Investment Note] Japan's Samurai 7 Rises Rapidly, Benefiting from NVIDIA 118
[Ashin's Investment Note] 124 Top 2 Dutch Semiconductor Companies Rising Rapidly Thanks to AI Accelerators

Chapter 4: AMD, the perennial runner-up, is different during the AI ​​revolution. 128
Breaking Through the NVIDIA CUDA Wall 130
Development of the Zen6 Processor (CPU) Core Architecture Begins 132
Why AMD Is Blinding the Core Count 133

Chapter 5: Intel Aims to Revive Moore's Law 135
Andy Grove, who ushered in Intel's golden age 137
Gaudi 3, the AI ​​accelerator market entry, 138
Intel's AI Strategy: Continuously Implementing New Process Technologies 139
Aiming to revive Moore's Law with cutting-edge packaging technology 141
Intel, the biggest beneficiary of the Chips Act, received 26 trillion won in support from the U.S. government.
Declaration of entry into automotive processor market 144
[Ashin's Investment Note] The Magnificent Seven, the epitome of Big Tech 146
[Ashin's Investment Note] 155 Domestic Companies to Watch in the U.S. Chips Act & Intel's Expanded Investment

PART 2

The turbulent AI technology war is leading to a supercycle.

Chapter 1: Chat-GPT Fires the Signal Flare for the AI ​​Revolution 162
OpenAI Launches New AI Semiconductor Strategy 163
Reduce your reliance on NVIDIA: Big Tech's in-house chip design is flooding in.
[AI Revolution Investment Checkpoint] Microsoft's AI Semiconductor Independence? 169
170 Companies Seeking Opportunities in the AI ​​Inference Market
Humanoid robots…creating new on-device AI demand 173
Expanding AI Service Ecosystem and Increasing Demand for HBM 175

Chapter 2: What Industries Are Growin' Big with the Big Tech Gold Rush? 177
The rush of custom chip designs calls for jeans and pickaxes 177
The rapidly growing semiconductor IP market 181
South Korea's IP market share is only 3% at 182.

Chapter 3: ARM, the Pinnacle of the Semiconductor Design Ecosystem 184
ARM's headache: 'ARM China' 185
RISC-V: The Only Alternative to ARM 187
Semiconductor design guru Jim Keller is obsessed with RISC-V.
RISC-V Technology Emerges as a Battleground for US-China Semiconductor Competition
EDA 190 Evolves Further with AI
Combining Creativity and AI: 'EDA AI' 191
Advanced Packaging: EDA's Importance Rising 192
Semiconductor IP, ARM Architecture PC/Server Entry 192
On-Device AI Blooming 193
[Ashin's Investment Note] 195 Notable IP Companies

Chapter 4: Foundry is pronounced as TSMC. 204
TSMC also monopolizes AI semiconductor production.
AI Accelerator Bottleneck: TSMC's CoWoS Process 208
Foundry AVP Technology 210: Increasingly Important

Chapter 5: The Fierce Technology War in the Foundry Market 214
TSMC's technological prowess was solid. 215
Nvidia's Super Hot Run Restart? 217
TSMC Achieves No. 1 Semiconductor Industry Sales Ranking for Six Consecutive Quarters (218)
Mobile and server chip leading-edge process roadmaps have been released.
Samsung Foundry's Counterattack 219
221: A Life-or-Death Bet on AI Chips
Mach 1, the AI ​​accelerator supplied to Naver, 222
EUV 223, the most important technology in advanced processes
Competition is moving beyond AI accelerators to automotive semiconductors.
A New Approach to Fleet Processing BSPDN 226
[Ashin's Investment Note] 227 Companies to Watch in the Foundry Value Chain
[Asin's Investment Note] 234 Companies to Watch in the EUV Leading-Edge Process

Chapter 6: The Future of On-Device AI in Your Hands 239
Will On-Device AI Be the Turnaround for the PC Market's Stagnation? 244
Exynos 2400 returns after 1 year and 9 months
By 2027, four out of ten smartphones will have on-device AI.
The first year of the on-device AI market: 247
AI Revolution Investment Checkpoint: MediaTek 251

Chapter 7: Robots vs. Self-Driving Cars: Who Will Win? (252)
Autonomous vehicle technology has the potential to evolve into a killer application.
How Autonomous Vehicle Computing Is Evolving 254
Automotive Semiconductors and AI Semiconductors 256
[Asin's Investment Note] 259 Stocks Benefiting from the Expansion of the On-Device AI Ecosystem

Chapter 8: The AI ​​Revolution and the Fantasy Partner: Humanoid Robots 262
AI Robotics Technology 262: Advancing at an Incredible Speed
Humanoid Robots: The Battleground of Big Tech 264
The End Point of AI and Robotics Convergence 266

Chapter 9: Qualcomm Dreams of Taking Off in the Era of On-Device AI 268
Qualcomm 268, which excels at image and video acceleration processing
Qualcomm Orion CPU-based Snapdragon X Elite 269
Strategies for Strengthening Competitiveness in the On-Device AI Market 271

Chapter 10: Apple's Crisis: Lagging Behind the AI ​​Revolution 272
Why Apple Is Accelerating Development of Its Next-Generation Processor 272
Apple's AI Strategy: Short-Term SLLM and Mid- to Long-Term LLM Development 276
A 30 billion-parameter AI model challenges GPT-4 and Gemini 277
Next-generation silicon chips will significantly enhance on-device AI performance.
Vision Pro becomes more powerful when it meets on-device AI. 280

Chapter 11: Tesla Embraced the AI ​​Revolution Before the Mobility Revolution 282
Elon Musk, 282, has been pushed out of the AI ​​revolution.
Self-driving car technology has reached a level that cannot be ignored.
Establishment of a new artificial intelligence research company, X.AI 285
Focus on Musk's vision and projects 286

Chapter 12: Meta Platforms Aiming to Lead the AI ​​Revolution 288
288 Killer Applications Incorporating Generative AI That Will Shape the Future of Meta
The introduction of generative AI will further widen the gap. 289

Chapter 13: Growing the Post-Processing Ecosystem with On-Device AI 291
Test Socket 291: A Direct Beneficiary of the Domestic Value Chain

PART 3

HBM Leading the Memory Foundry Era

Chapter 1: Leading Indicators of the Semiconductor Cycle: Samsung Electronics & SK Hynix 300
The Difference Between CPUs and GPUs: The Changing Role of Memory in the AI ​​Era 302
The End of AI Semiconductors: Neuromorphic Semiconductors 304
Memory semiconductor values ​​can change 306
Sam Altman and Son Jeong-ui, who bet astronomically on AI semiconductors, 308
The semiconductor industry in 2023 is expected to be unprecedentedly challenging.
The semiconductor market is expected to grow to $600 billion by 2024.
Semiconductor equipment market rebound expected 313
The DRAM market will exceed $100 billion by 2025.
The Reality of South Korea, a Semiconductor Powerhouse 316
Explosive Growth of HBM for AI Accelerators 317

Chapter 2: Capturing the HBM Market 319
HBM 319 shakes up the balance between the top two memory companies.
SK Hynix's HBM Super Gap 322
Samsung Electronics' HBM catches up with AMD, is Nvidia next? 324
[Ashin's Investment Note] 327 Companies to Watch in the HBM Value Chain
339 Global Companies to Watch in the HBM Value Chain
Samsung Electronics Partners with Domestic Fabless Companies to Grow AI Semiconductors
Samsung Electronics to Develop Human-Shaped Semiconductors
SK Hynix, a leader in HBM, faces 348 pressing challenges.

Chapter 3: Number Three Micron Technology's Rise 350
Micron's aggressive moves to expand its HBM market share: 350
Large-scale investment plans in the US and expansion of EUV investment in Japan 351
Micron 352 Demonstrates the Importance of Innovation and Sustainable Growth

Chapter 4: Investment Ideas from the Evolution of HBM Technology 354
354 Checkpoints Remaining in the AI ​​Semiconductor Cycle
Next-Generation 3D DRAM Research Begins in Full Swing 356
Relaxation of HBM thickness standards benefits existing suppliers.
362 On-Demand DRAM for AI PCs
Samsung Electronics Introduces 4F Square for Next-Generation DRAM 363
[Asin's Investment Note] 365 Stocks Benefiting from the DRAM Tech Migration

PART 4

Data Centers & Glass Substrates Dreaming of a Flip-Flip Revolution

Chapter 1: The AI ​​Semiconductor Era: A Feast of New Technologies 374
Connectivity in AI Semiconductors is Increasingly Important 374
New Technologies and New Markets to Watch 378
AI's Bottleneck: From Semiconductors to Electricity? 381

Chapter 2: Data Centers Gathering Like Clouds 382
Amazon's shaky position after the AI ​​revolution 382
AI Server Trickle-Down Effect Digests Malicious DRAM Inventory 384
AI Revolution Investment Checkpoint: Dell 386, a Beneficiary of Enterprise AI Servers
Electricity shortages for AI data centers 386
Power-hungry hippopotamus AI: Data center cooling solutions offer a solution 391
[Ashin's Investment Note] 399 Key US Data Center Companies
The AI ​​Revolution Requires SMR 403
AI Revolution Investment Checkpoints: 405 US Stocks Related to SMR
AI data center expansion drives surge in transformer demand 406
[Asin's Investment Note] 409 Notable Data Center Companies

Chapter 3: The Game Changer for High-Performance Chips: The Rise of the Glass Substrate Market 415
The newly emerging glass substrate market 415
Glass Substrate vs. Silicon Interposer 420
[Ashin's Investment Note] 423 Notable Beneficiaries
Glass Substrate Value Chain 426

Chapter 4: AI Generates Massive Communication Traffic 429
The telecom industry is preparing for an explosion in AI traffic demand.
InfiniBand and Ethernet 432
[AI Revolution Investment Checkpoint] Arista Networks 434
The AI ​​Revolution Increases Security Threats 435
Edge Computing and Quantum Cryptography 437
[Asin's Investment Note] 439 Notable Data Center Companies

Epilogue: Lessons from the Jingbirok for Us Facing the AI ​​War 444
Glossary 448

In 1980, the number of semiconductors shipped annually was only 32 billion.
The number surged to 1.36 trillion in 2020, and is projected to reach 2 to 3 trillion by 2030.
In the future, countries that can effectively develop and produce AI and semiconductors will have a voice in the international community. The expansion of the AI ​​and semiconductor industries goes beyond mere technological advancement and is establishing itself as a factor with significant influence on the global economy and politics.

In this context, securing AI and semiconductor technology in our country is not an option, but a necessity. We must transition from a society that fears AI technology to one that actively utilizes it.
If we fall behind in this trend, there is no bright future for us.
We need to understand that it is not AI that is taking our jobs, but people who are good at using AI.

Human history is always divided into a minority that adapts to new trends and a majority that falls behind.
Accordingly, the wealth gap is bound to widen at an incredible rate.
The gap between companies will also widen. While some companies will emerge as winners in a new era by leveraging AI, many others will be pushed out of the competition and relegated to the dustbin of history.


In the past, AI booms have briefly occurred and then cooled off, but the current situation is completely different.
At the time, a lack of computing power and data hindered AI development. No matter how powerful an AI algorithm is, it is limited if it lacks the necessary computing power and data.


Since the mobile revolution, big data has grown exponentially, and advancements in semiconductor technology have dramatically improved computing power. This creates the perfect environment for the AI ​​revolution.
Hyperconnectivity has led to the deployment of sensors in every aspect of our lives, creating a virtuous cycle that leads to the creation of big data.
Nowadays, even small and medium-sized businesses and self-employed individuals are storing their activities in data.

The AI ​​revolution is a big cycle!
As it is a long-term cycle,
If you prepare now, there will be ample opportunity!

The AI ​​revolution has now become a fully established trend.
Eight of the top ten companies by global market capitalization are all-in on big tech, specifically AI development. They are making every effort to seize the opportunity in AI technology. While computing power will likely be the focus of the early stages of the AI ​​revolution, in the long term, the importance of big data is likely to determine competition.
Big tech companies with data dominance have gained an advantage in the long-term battle.
This is why investors must invest heavily in U.S. Big Tech to fully capitalize on the AI ​​revolution.

This book is not just an investment book.
Drawing on his experience as an electronic newspaper journalist, the author provides a comprehensive overview of the systems and direction of the AI ​​revolution, accurately reporting on the fierce technological battle between leading and following companies, as well as corporate trends and industry trends.
We also serve as a guide for investors by analyzing the top 100 companies that will benefit from the AI ​​industry value chain.


As the author says, there's no need to be disappointed that reading this book so late has missed the mark. The AI ​​revolution is a big cycle.
Since this is a long-term cycle, there are ample opportunities if you prepare now.