The dramatic turnaround of AMD in the global semiconductor market is a case that appears countless times in management textbooks. Founded in 1969, AMD was overshadowed for more than 30 years by 'number one' Intel, earning a reputation as a low-cost copycat firm. By the early 2000s, Intel held more than 80% of the global CPU (Central Processing Unit) semiconductor market, while AMD barely maintained 20%.
However, in the 2010s, AMD's situation worsened. In 2012, AMD was engulfed in bankruptcy rumors amidst a series of product failures, the aftereffects of restructuring, and liabilities close to 3 trillion won. It seemed that there was no future left for AMD in this dire crisis.
But the semiconductor market environment was quietly changing. The early 2010s marked the dawn of the mobile and cloud era. Corporations were no longer just searching for high-performance CPUs as before. Instead, they wanted small semiconductors for portable devices and semiconductors that offered high power efficiency to operate server computers reliably for a long time.
The rebellion of the underdog has begun.The headline from Wired covering Computex in Taipei, Taiwan, in 2017 read,
AMD did not miss this change. When the largest computer products event in Asia, Computex, was held in Taipei, Taiwan, in June 2017, foreign media gathered at the AMD booth instead of Intel's.
The Ryzen processors released by AMD in 2017 had power consumption levels at half that of Intel. The market landscape changed rapidly. AMD's stock price soared more than 20 times in the following five years. In 2022, it surpassed Intel's market capitalization for the first time since its establishment. It was the moment when the second place of 50 years leaped to first place.
The Burgundy region in France is known for producing the most expensive wines in the world. Romanée-Conti, which is often cited as the 'highest-priced wine gift set in the country' at department stores during holidays, is a representative Burgundy wine. The annual production of Romanée-Conti is only about 5,000 bottles. Due to this rarity, you have to pay millions of won per bottle to obtain it.
The white wine varietal that represents this region is undoubtedly Chardonnay. It is grown in more than nine out of ten vineyards. Burgundy Chardonnay, grown this way, often transforms into ultra-expensive wines like Montrachet, costing over 30 million won per bottle. Naturally, the most expensive white grape vineyards in this region grow Chardonnay.
The white grape Aligoté had long been considered a forgotten variety overshadowed by Chardonnay. Even during the phylloxera disaster that struck France at the end of the 19th century, Aligoté vineyards were slow to recover due to being overshadowed by Chardonnay. Aligoté was regarded merely as a grape for low-cost wine production or as a cocktail ingredient mixed with Crème de Cassis called Kir Blanc.
However, an unforeseen variable called climate change flipped the dynamics of the wine market. According to France's Ministry of Agriculture, all 11 of the warmest years since 1979 have occurred after 2003. The grape harvest dates in this region have been advanced by about two weeks from 1988 to 2020. As global warming raised the average temperature in Burgundy, the once exquisitely elegant Chardonnay began to transform into a sweeter wine that felt heavier on the palate. The increase in sugar content correspondingly raised the alcohol content.
Just as AMD threatened Intel with efficiency as a new competitive edge, Aligoté grape growers in this region wagered on characteristics suited for the era of climate change.
Aligoté is a variety that naturally possesses higher acidity and lower sugar content compared to Chardonnay. Thus, it retains a vibrant flavor even in hot weather. Wine enthusiasts have begun to seek lighter and crisper Aligoté instead of the increasingly high-alcohol Chardonnay.
As consumers began to prefer Aligoté over Chardonnay, even renowned Burgundy producers who had previously overlooked this grape started to invest in Aligoté cultivation. Aligoté has been planted in sunny vineyards that were previously dominated by Chardonnay.
Wine critics also provided a different assessment than before. Renowned wine critic Jasper Morris praised, "Aligoté is the variety that Burgundy should focus on in the era of climate change."
Burgundy wine experts no longer refer to Aligoté as a forgotten grape. Instead, they call it the grape of the future. Now, in this region, Aligoté stands shoulder to shoulder with Chardonnay, riding the wave of change brought by climate change.
Domaine Vincent Bouzereau's Burgundy Aligoté is a wine at the forefront of this change. The Bouzereau family has cultivated vineyards since the 1970s. They recognized Aligoté's potential early on. While nine out of ten grape growers pulled out Aligoté and planted Chardonnay, they preserved the Aligoté vineyards.
The Burgundy Aligoté from Domaine Vincent Bouzereau is made from grapes grown in chalky soil near Meursault, one of Burgundy's premier white wine regions. Experts described this wine as having a refreshing aroma of citrus and green apple, accompanied by a thrilling acidity.
This wine won the Daesang in the white wine category of the 2024 Korea Alcohol Awards. The importer is Homeo Wine Gallery.