---
title: "Let's talk about the updates on Nvidia's Blackwell product line, market rumors about the slowdown in CoWoS-S capacity expansion, and the upcoming TSMC earnings call."
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/26620453.md"
description: "$NVIDIA(NVDA.US) $Taiwan Semiconductor(TSM.US)Nvidia has redefined its product line in the latest Blackwell architecture blueprint. 200 Series: Features Dual-die (CoWoS-L manufacturing) design, with system products like GB200 NVL72 and HGX B200. 300 Series: Features Dual-die (CoWoS-L manufacturing) and Single-die (CoWoS-S) design..."
datetime: "2025-01-15T06:42:02.000Z"
locales:
  - [en](https://longbridge.com/en/topics/26620453.md)
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author: "[郭明錤 (Ming-Chi Kuo)](https://longbridge.com/en/profiles/16207082.md)"
---

# Let's talk about the updates on Nvidia's Blackwell product line, market rumors about the slowdown in CoWoS-S capacity expansion, and the upcoming TSMC earnings call.

$NVIDIA(NVDA.US) $Taiwan Semiconductor(TSM.US)

## **NVIDIA has redefined its product line in the latest Blackwell architecture blueprint.**

1.  200 Series: Features Dual-die (CoWoS-L manufacturing) design, with system products like GB200 NVL72 and HGX B200.  
    
2.  300 Series: Features Dual-die (CoWoS-L manufacturing) and Single-die (CoWoS-S) designs, with system products like GB300 NVL72 (Dual-die) and HGX B300 NVL16 (Single-die).  
    
3.  NVIDIA has named the Dual-die and Single-die in the 300 Series as Ultra Dual-die and Ultra Single-die. I believe this is purely a marketing naming strategy with no substantive meaning.

## **Based on the new blueprint, it can better explain recent market rumors that NVIDIA is cutting CoWoS-S capacity, as the demand for CoWoS-S from NVIDIA will indeed significantly decrease for at least the next year.**

1.  In the 200 Series generation, the original B200A (Single-die, CoWoS-S manufacturing) has been removed, so CoWoS-S is no longer needed.  
    
2.  Starting from Q1 2025, NVIDIA will focus on promoting the 200 Series and reduce the supply of the H Series (CoWoS-S manufacturing), gradually eliminating the need for CoWoS-S.  
    
3.  System products using the B300 Series will begin mass shipments in 2026. Currently, NVIDIA and CSPs clearly prefer GB300 NVL72 (CoWoS-L production), so although the B300 Series includes Single-die/CoWoS-S systems, GB300 NVL72 will be prioritized for shipment. Thus, the demand for CoWoS-L is more urgent than for CoWoS-S.

The above changes in the product line will, to some extent, impact the performance of the supply chain, with some suppliers being particularly affected, leading to noticeable adjustments in their stock prices recently. However, from NVIDIA's perspective, slowing down or cutting CoWoS-S expansion is mainly due to product line changes rather than demand-side issues. Such changes also align with TSMC's strategy to promote CoWoS-L as the mainstream solution.

## **From TSMC's perspective, during this week's (January 16) earnings call, someone might ask about the slowdown in CoWoS-S expansion. I don’t know how TSMC will respond, but here are some points to consider.**

1.  While CoWoS-S expansion is slowing, CoWoS-R capacity has increased (using interposer capacity changes to infer CoWoS capacity changes might lead to errors). I’m not sure if TSMC will comment on individual CoWoS technologies, but if they only address overall CoWoS expansion, they might say it’s proceeding as planned.  
    
2.  TSMC internally still positions AI/HPC as this year's growth driver and should maintain a positive outlook. It’s unlikely to hear any significant negative comments about AI prospects from TSMC.  
    
3.  For TSMC, transitioning from B200 to B300 involves no changes in FEoL, and BEoL changes can be handled via ECOs. Thus, the two can be considered the same product, meaning whenever this transition occurs, its impact on TSMC can be managed.

![Image](https://pub.pbkrs.com/uploads/2025/a13f1525f6558d920f605d272218e8b2?x-oss-process=style/lg)

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