Silicon Nexus

Alphabet plans up to $190B in 2026 capex for AI infrastructure, with Pichai saying compute built over the past two years already equals Google's first 20 years combined. He flagged heavy reliance on Asian supply chains and accelerated in-house TPU development, supportive for TSMC and HBM/advanced-packaging suppliers.

Why it matters: CEO-confirmed $190B 2026 capex with explicit reliance on Asian supply chain and TPU ramp is a clear capex signal for TSMC and Korean HBM names.

Auras Technology (3324-TW) told its AGM it will lift cold plate monthly capacity from ~300K to over 400K units (Thailand 250K + Guangzhou 150K), serving both GPU and ASIC customers, while manifold output has already doubled to 4,000-5,000 pairs/month in Q2. Chairman Lin said vapor chamber demand is so strong that 'customers take whatever capacity we have,' targeting a jump from ~100K to 1M units/month by late 2026/early 2027 at the Thailand plant; In-Row CDU shipments ramp this year at 1.6MW, rising to 2.4MW in 2027.

Why it matters: Concrete multi-product capacity expansion plan with quantified targets from a thermal-solutions supplier, but Auras (3324) is outside the tracked TW/KR ticker universe so direct portfolio impact is limited to read-across on AI server liquid cooling demand.

ASML CEO Christophe Fouquet told Reuters that AI, satellite and robotics demand will keep chip supply tight long-term, with the chip market reaching $1.5T by 2030; ASML ADR jumped 6.21% to $1,550 and peers AMAT/LRCX/KLAC rose 4.9-6.84%. UBS named ASML its top semi pick with a €1,900 PT (>40% upside), citing sustained AI capex tailwinds — bullish read-through for major EUV customers TSMC, Samsung and SK Hynix.

Why it matters: Sector-wide capex/demand outlook from ASML with positive read-through to its major foundry/memory customers, but no direct order or company-specific catalyst for tracked names.

Nvidia CEO Jensen Huang told CNBC that Nvidia has 'largely' ceded the China AI chip market to Huawei, with China previously accounting for at least one-fifth of data center revenue now effectively zeroed out of guidance. Despite this, Nvidia posted Q1 revenue of $81.62B (up 85% YoY from $44.06B), announced an $80B buyback and dividend hike, and is scaling supply-chain investment across energy, chips, infrastructure, models and applications.

Why it matters: Nvidia earnings beat plus $80B buyback and explicit China-zero guidance is a clear stock-moving signal for the entire AI supply chain including TSMC, SK Hynix and HBM/CoWoS suppliers.

Taiwan e-tailer PChome (8044-TW) says AI-capable notebooks now account for nearly 40% of laptop sales with YoY volume up over 20%, while memory module revenue jumped nearly 60% YoY heading into Computex 2026 (June 2). ADATA DDR5 5600 16GB SO-DIMMs were called out as a top seller, and NVIDIA RTX 50-series GPUs (5090, 5070 Ti) drew the heaviest search interest — supportive read-through for DRAM suppliers and AI-PC supply chain.

Why it matters: Channel-level demand data point (AI PC share, memory revenue growth) with positive read-through for DRAM makers and AI-PC supply chain, but no named contract or guidance.

Auras (3324-TW) chairman Lin Yu-shen told shareholders that GPU and ASIC AI server liquid cooling demand remains strong, with ASIC ramping in H2 to potentially 40% of revenue mix and liquid cooling reaching 70% of product revenue by year-end. Analysts forecast 2026 revenue growth of 60-70% with gross margin holding around 30%; on Nvidia's Vera Rubin, Auras is focusing resources on manifold and inner manifold products where it holds high market share.

Why it matters: Auras (3324-TW) is not in the tracked TW universe and the story is a roadmap/demand-outlook commentary from its AGM rather than a stock-moving event for tracked names, though it signals continued AI server liquid cooling momentum relevant to the supply chain.

Topco Scientific posted Q1 consolidated revenue of NT$18.54B (+17.6% YoY, +7.2% QoQ) and a record quarterly EPS of NT$6.86 (vs NT$4.91 YoY), driven by strong AI/HPC wafer pulls; semiconductor materials accounted for 86.7% of sales (NT$16.07B). Management flagged deep design-in at TSMC's 3nm→2nm/A16 nodes (photoresist, silicon wafers, quartz, mask blanks), Shin-Etsu high-end quartz cloth for AI-server CCLs (capacity ramping from 75k m/month toward 240k m/month), and rising advanced-packaging material demand (TBDB, underfill, MUF); FOUP/FOSB prices being raised 15–20% on petrochemical cost spikes.

Why it matters: Topco Scientific (5434.TW) is not in the tracked universe; the read-through is a positive supply-chain data point for TSMC's N3/N2/A16 ramp and AI-server CCL demand rather than a direct stock-moving event for a tracked name.

Taiwan's leveraged 0050 ETF (00631L) gained over 6.5% intraday and has returned 53.2% since April, outpacing active Taiwan equity ETFs as MediaTek hit limit-up and TSMC and Delta rose 3%+ and 5%+. The FSC's recent move to raise single-stock caps in Taiwan equity funds from 10% to 25% is steering flows toward heavyweights like TSMC, reinforcing passive outperformance in the 'Big TSMC era.'

Why it matters: Market-flow and ETF performance story driven by a regulatory cap change that channels passive flows into TSMC and other heavyweights — sector-level rather than a discrete stock-moving catalyst.

Taiwan's market staged a strong rebound on May 21 as Nvidia's strong earnings and easing US-Iran tensions lifted sentiment, with Yuanta Taiwan 50 (0050) up ~3.5% and its 2x leveraged sibling 00631L surging ~6.5% intraday. Heavyweights led the rally — MediaTek (2454) and Yageo hit limit-up, while TSMC (2330) and Delta Electronics rose 3%+ and 5%+. The FSC's recent relaxation of single-stock caps in Taiwan equity funds/active ETFs from 10% to 25% is seen as a structural tailwind for large-caps like 2330 and 0050.

Why it matters: Market-color story on ETF flows and an index-level rally driven by macro catalysts (Nvidia earnings, geopolitics) plus a structural FSC rule change benefiting large-cap weightings — moves names but isn't a single-stock catalyst.