Samsung Electro-Mechanics is emerging as an AI infrastructure titan as advanced substrates become the bottleneck for AI scaling. Per @jukan05, it will supply FC-BGA substrates for Broadcom's most advanced AI accelerators from the second half, joining NVIDIA, Google, Amazon and Apple. With Ibiden and Shinko at full capacity, it is the only tier-1 player with the capex to scale large-area substrates. AI servers also need 3-4x more MLCCs, where Samsung and Murata own the IP and earn premium margin. … Show more

Samsung Electro-Mechanics is breaking into AI packaging by supplying silicon capacitors for Intel's EMIB, which is why the stock is surging. TSMC sourced silicon capacitors in-house, shutting outsiders out, but Intel must buy them. SEMCO is the only company with both silicon capacitor and substrate businesses, the top-value EMIB part, so it can supply both turnkey with strong bargaining power. It won a contract over $1B versus a few million dollars of such revenue last year. x.com 

Glass-core substrate suppliers such as Corning, LPKF, Samsung Electro-Mechanics, SKC and AGC remain early, as the sector is still some way from shipping real volume. Part 4 of @GyujinAAIG's glass research shows how far each group is, mapping substrate makers on a one-to-ten readiness scale and chip designers on a separate one-to-fourteen scale. x.com 

Nvidia's co-investment supports Samsung Electro-Mechanics' substrate expansion because it expects capacity to be tight when it needs supply. Samsung Electro-Mechanics says dedicated compute and switch substrate supply to Nvidia starts this year, with double-digit annual volume growth; by 2028 Nvidia orders should take a substantial share of its package-substrate capacity. Global customers fund part of its 6.78 trillion won expansion, but new Sejong output starts in September 2028. x.com 

Samsung Electro-Mechanics has booming profits from MLCCs and FCBGA substrates, backed by huge demand through long-term agreements with hyperscalers. It may be preferable to Samsung Electronics right now, since there are better pure-play memory names than Samsung Electronics. x.com 

As custom AI chips become normal, the scarce asset may be the capacity to build them, since every design passes through the same packaging, substrate, PCB material and manufacturing bottlenecks. Meta with MediaTek and Amazon with Alchip show chip design going modular. That favors TSMC for manufacturing, Alchip for ASIC back-end work, Samsung Electro-Mechanics, Ibiden and AT&S for high-end substrates, and Shengyi Technology if AI PCB material stays tight. The bottleneck map widened. x.com  x.com 

Unimicron should benefit from a persistent AI ABF substrate shortage and a shift toward higher-end products. Its projected share exceeds 30% as the market reaches $13bn/$18bn in 2027/28; added capacity is expected to lift ABF revenue 66%/90%. Higher-end ABF, mSAP and LPDDR lift margins, supporting 77% EPS CAGR. Initiate Buy with a NT$1,820 target at 30x 2027 earnings. x.com 

Samsung's expected $646 billion, ten-year spending plan, reported by Bloomberg, is mostly a structural bet on HBM and advanced packaging, the part of the AI supply chain the market chronically underweights because it is less glamorous than GPUs. Value in AI infrastructure is migrating down the stack, and Samsung is signaling where the next bottleneck lands. x.com 

Power delivery is the least crowded way to own AI capex, as capacitance moves onto the chip package. AI chips run at about 1V while drawing 800W to over 1kW, with current spiking from 100A to 900A instantly, too fast for distant MLCCs. AP Memory, the purest silicon capacitor play, posted record Q2 revenue up 78% with SiCap up 273% to 27% of sales, and one design needs nearly 100 caps per substrate with visibility into 2028. Samsung Electro-Mechanics signed a $1B SiCap supply contract. x.com 

IC substrates are Schmid's more relevant growth driver today because demand is already high and rising. Schmid customers Ibiden and Unimicron are expanding capacity with NVIDIA support; higher order intake supports the prospect of more equipment orders. Its balance sheet has improved, and the risk/reward looks attractive at current levels despite volatility. Glass substrates may take another one to two years to matter commercially. This is a personal assessment, not a buy recommendation. x.com  … Show more