Morgan Stanley Reveals TSMC CoWoS, HBM Demand Remain Strong, Fueling 460B AI Chip Spending to 2027

TSM-0.61%
NVDA4.06%
AMD2.07%
According to Morgan Stanley's latest industry report, supply chain signals indicate sustained artificial intelligence demand despite market debate over potential overheating. The firm estimates that the top 14 global cloud service providers will commit nearly $1.3 trillion to cloud infrastructure capex through 2027, with spending cascading into GPU, ASIC, CPU, and HBM orders ultimately reaching Taiwan Semiconductor Manufacturing Company (TSMC). Morgan Stanley projects TSMC's capex will reach $56 billion in 2026 and climb to $75 billion in 2027, with CoWoS advanced packaging capacity expanding from approximately 70,000 wafers per month at end-2025 to 120,000 by end-2026 and 200,000 by end-2027. HBM demand is expected to reach approximately 50.6 billion Gb by 2027, with NVIDIA as the largest buyer but Google, AMD, and AWS also consuming significant supply. The report estimates AI-related wafer consumption will exceed $46 billion by 2027, with test equipment capacity growing at approximately 35% annually through 2027, indicating the supply chain queue for advanced manufacturing, packaging, and memory remains robust.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments