<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">Driven by global infrastructure expansion for generative AI, large modeltraining and edge inference, shipments of AI servers maintain robust growth throughout2026. This trend triggers explosive demand across the whole industrial chain,including high-layer PCB, advanced HDI, high-speed backplanes and opticalmodule PCBA assemblies. High-end computing circuit boards have entered along-term tight supply super cycle and become the core growth driver of globalPCB & EMS industry.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">Latest data from TrendForce shows global AI server shipments grow 28.3%year-on-year in 2026, while the worldwide computing PCB market scale exceeds$21.4 billion with a YoY surge over 110%. Compared with conventional generalservers, the PCB value per AI rack rises by more than 230%, reaching tens ofthousands of US dollars per cabinet, which creates massive incremental marketspace. As NVIDIA’s next-gen Rubin computing platform enters mass production,demand for GPU accelerator boards, orthogonal high-speed backplanes, and PCBAfor 800G / 1.6T optical modules surges collectively. Top PCB and EMSmanufacturers run high-end production lines at full capacity 24/7, with orderlead times extended to 6–9 months. Many premium production capacities arelocked by long-term contracts from global cloud service providers and AIhardware developers till early 2027.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">The demand boom is fundamentally powered by comprehensive technicalupgrades of AI hardware architecture. Conventional server PCBs only require10–16 layers, while mainstream AI computing motherboards adopt 20–30 layers,and orthogonal backplanes for Rubin Ultra reach up to 78 ultra-high layers.Manufacturing processes shift to 5–6 stage advanced HDI and mSAP microblind/buried hole technology, with microvias as small as 40μm and tracewidth/spacing down to 3/3mil. Production demands micron-level precision controlon layer alignment, thermal stress and impedance consistency.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">Material systems are fully upgraded from standard FR-4 to low-losshigh-speed CCL (M7/M8/M9) to support PCIe 6.0 ultra-high-speed datatransmission, minimizing high-frequency crosstalk and signal attenuation.Affected by supply imbalance, M9 ultra-low-loss substrate price jumps 560% fromthe bottom in 2026, and copper-clad laminates have raised prices six roundswithin the year, continuously lifting manufacturing costs of high-end PCBA.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">A massive capacity expansion wave sweeps the industry. Up to July 2026,leading domestic PCB enterprises have announced total investment exceeding RMB71.2 billion for high-end computing circuit projects. Unimicron launched a RMB9.6 billion private placement with total investment of RMB 127.3 billion,focusing on advanced HDI and optical module PCB for AI. HannStar, Shengpeng,NAN YA also roll out hundred-billion-yuan investment plans targetingabove-28-layer high-layer boards, computing backplanes and optical module PCBA.However, high-end production lines require 12–24 months for stable yieldramp-up, making it impossible for new capacity to ease structural shortage inshort term.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">Clear divergence appears in PCBA EMS segment. Factories equipped withproduction lines for large-size multi-layer boards, ultra-high pin-count BGAsoldering and full AI system functional testing are fully booked with grossmargin above 30%. Small & medium manufacturers limited to consumerelectronics boards cannot access computing orders, accelerating industryconsolidation toward integrated manufacturers with precision fabrication,high-speed signal testing and one-stop EMS solutions. Major applicationscenarios cover AI training servers, inference appliances, GPU acceleratorcards, high-speed switches, liquid cooling computing units and optical moduleassemblies, with continuous sample and mass order inflows from global cloud andAI hardware clients.

<span lang="EN-US" style=""font-size:11.0pt;mso-bidi-font-size:12.0pt;font-family:"Times New Roman",serif;">Market analysts forecast the domestic AI computing PCB market will hitRMB 900 billion in 2026 and climb to RMB 1.6 trillion by 2027, with a two-yearCAGR over 35%. Global hyperscalers keep increasing capital expenditure for AIinfrastructure, securing long-term growth logic for high-speed multi-layer PCBand matching PCBA services. Integrated manufacturers offering one-stop servicesincluding PCB prototyping, precision SMT assembly, system integration andsignal integrity testing will fully capture long-term dividends of globalcomputing industry expansion.