成本压力叠加AI需求爆发，功率半导体掀涨价潮

Core Viewpoint - The global price of power semiconductors has increased by 10% to 20% due to surging demand driven by AI and rising costs, with shortages in MOSFETs and IGBTs, while the production capacity of 6/8-inch wafers is tightening, leading to a turning point of simultaneous volume and price increase in the industry [1][2]. Group 1: Price Increase Drivers - The price increase in power semiconductors is primarily driven by rising manufacturing costs and structural demand from downstream applications [3][5]. - Major manufacturers have reported significant increases in the costs of raw materials and precious metals, which have led to higher costs in wafer manufacturing and packaging testing [4]. - The demand for power semiconductors is being fueled by rapid growth in AI data centers, electric vehicles, energy storage, and industrial control sectors, with AI servers being a notable source of demand [5][6]. Group 2: Supply Constraints - The supply of 6-inch and 8-inch wafers, which are primarily used for manufacturing power semiconductors, is entering negative growth, creating a scarcity in the global power and analog supply chain [5][6]. - Major international manufacturers like TSMC and Samsung are reallocating resources to advanced processes, reducing the supply of mature 6/8-inch wafers [5]. - Companies such as Infineon and ON Semiconductor are prioritizing production capacity for high-margin products like silicon carbide and gallium nitride, further tightening the supply of traditional low to medium voltage MOSFETs [6]. Group 3: Expansion Plans - Several domestic and international manufacturers are announcing or advancing expansion plans in response to the price surge [8]. - MinDe Electronics plans to raise up to 1 billion yuan for high-voltage power semiconductor devices and integrated circuit wafer foundry projects, aiming to increase monthly production capacity by 60,000 wafers [9]. - Infineon has raised its investment plan for fiscal year 2026 to 2.7 billion euros to accelerate capacity expansion for AI data center power solutions [10].