2026 Taiwan Stock AI Boom New Landscape: From Supply Gaps to Copper Foil Substrate Concept Stocks Investment Opportunities

Taiwan’s technology industry is迎來 a new round of valuation reshaping, with the key driving force coming from the expansion of global AI infrastructure. From chip foundries to upstream materials, the entire industry chain is experiencing a mismatch between supply-side tightness and demand-side explosion, which also explains why recently listed thematic ETFs can attract over 10 billion in capital inflows.

Capital Flow Leak Reveals Main Strategic Layout Logic

Fuhua Future 50 (00991A) surged immediately upon listing, with first-day trading exceeding 230,000 shares, climbing to the top of ETF trading rankings. Its constituent stocks directly target the most benefited segments of Taiwan’s AI industry chain: TSMC, Wistron NeWeb, Chih Hsin, Delta Electronics, and Kinsus are all included. Analysts interpret this as reflecting institutional expectations of about 20% profit growth in Taiwan stocks by 2026, supported by a mild interest rate cut environment, with a bullish trend expected to continue.

The ETF’s allocation weight structure is also noteworthy—semiconductors and AI data center components each account for 35-45%, AI servers and networking occupy 5-15%, complemented by financial and traditional industry allocations. This configuration essentially sketches out for investors: under the premise of stable semiconductor fundamentals, the real growth opportunities are concentrated in the AI peripheral ecosystem.

Supply Logic Behind the Reshaping of High-Price Stock Lineup

By the end of the year, Taiwan’s “thousand-dollar stocks” have reached 28, setting new highs. But unlike the past focus on IC design, this wave of gains mainly stems from midstream segments such as heat dissipation, materials, power supplies, and testing interfaces. This shift reflects a core fact: every upgrade of AI servers triggers a new round of upstream material shortages.

Xunhua, due to BMC chips becoming standard in data centers, saw its stock price double to break through 7,300 NT dollars. More noteworthy are the performances of heat dissipation groups and material manufacturers—Chih Hsin and Jian Ce’s annual gains approach or exceed 100%; Kinsus’ stock surged 159% due to shortages of high-speed copper-clad substrates and fiberglass cloth, becoming the biggest black horse of the year. Chuanhu, Ying Wai, and Wangxi also saw gains over 140%.

Even Delta Electronics, known for stability over the long term, temporarily reached a thousand dollars due to the surge in data center power demands, overtaking in ranking among heavyweight stocks. This phenomenon indicates: As long as supply gaps exist, valuation re-ratings will impact all levels of the industry chain.

Core Value of Copper Clad Substrate Concept Stocks

The material upgrade for NVIDIA’s next-generation platform has become an irreversible trend. High-end fiberglass cloth and low-loss copper-clad substrates (CCL) are becoming bottlenecks, with supply shortages directly boosting gross margins. Material manufacturers like Lianmao, Taiyao, and Kinsus are benefiting simultaneously, while downstream PCB and substrate manufacturers such as Zhen Ding and Unimicron maintain full capacity. The strong demand for ABF substrates lays a growth engine for operations through 2026.

The reason why copper clad substrate concept stocks have become a new focus is that they are both essential for industrial upgrading and benefit from supply tightness—once CCL and copper foil specifications are upgraded, old capacity is difficult to replace, meaning existing manufacturers’ bargaining power and gross profit margins will significantly increase.

Future Technology Directions Determine Next Investment Focus

The industry focus in 2026 will shift to the commercial scale of the Vera Rubin (VR) platform. Comprehensive upgrades in heat dissipation, power consumption, and interconnect bandwidth will once again drive demand in power, cooling, and PCB supply chains. Silicon photonics and CPO (co-packaged optics) technologies will become key to solving high-speed transmission bottlenecks. Taiwan has formed a complete ecosystem from epitaxy to optical components to packaging, with companies like Lianya and Wuxian showing strong potential.

Liquid cooling technology is also a crucial turning point— as GPU power consumption surpasses one kilowatt, the penetration rate of liquid cooling will rapidly rise from less than 10% to over 60%. Companies like Chih Hsin, Shuang Hong, and Jian Ce have already secured leading positions.

Investment Notes: Opportunities and Risks Coexist

Taiwan stocks are inevitably volatile after a significant rise, and valuation concerns also surface. But from an industry fundamentals perspective, the shortage of AI-related capacity is unlikely to be fundamentally alleviated before 2026, especially in advanced packaging, high-end copper-clad substrates, cooling, and power systems. Ongoing supply-side tightness provides fundamental support for these sectors, but investors should remain vigilant about valuation risks and short-term adjustments caused by market fluctuations.