Introduction#
Bernstein has highlighted two Taiwanese companies that are well-positioned to benefit from the increasing demand for artificial intelligence (AI) technology. These companies are primarily involved in semiconductor and component manufacturing, which are crucial for AI infrastructure.
Unimicron's Role in AI#
Unimicron is recognized as a significant player in the AI server market, particularly in the production of printed circuit boards (PCBs) and advanced packaging technology (ABF). Bernstein notes that Unimicron's revenue from AI is expected to reach 50% by 2026, driven by rising prices of raw materials like T-glass and copper-clad laminates (CCL). The company is also set to maximize its production capacity at its facilities in Yangmei and Guangfu by mid-2026. Furthermore, Unimicron is projected to capture about 35% of the ABF market share for Nvidia's high-end graphics processing units (GPUs) this year.
TSMC's Growth Outlook#
Taiwan Semiconductor Manufacturing Company (TSMC) has received praise from Bernstein for increasing its revenue growth forecast for 2026. The firm believes that strong demand for AI technology will counterbalance the decline in consumer electronics, which is affected by rising memory prices. TSMC has also adjusted its capital expenditure guidance to the higher end of $52 billion to $56 billion, indicating confidence in its growth prospects. Bernstein anticipates TSMC's earnings will grow by around 40% in 2026, with a compound annual growth rate of about 20% from 2027 to 2028.
Conclusion#
Both Unimicron and TSMC are positioned to thrive in the expanding AI market, with their respective advancements in technology and production capabilities. As AI continues to evolve, these companies may play a crucial role in shaping the future of the industry.