Core Viewpoint - The report highlights the strong demand for AI-ASICs, indicating a significant upward trend in capital expenditures (CAPEX) within the AI semiconductor sector, which is expected to drive growth in the PCB and related materials industry [2][8]. Group 1: AI-ASIC Market Growth - Broadcom reported a substantial increase in AI semiconductor revenue, reaching $5.2 billion in Q3 2025, a 63% year-over-year growth, with projections for Q4 2025 revenue to rise to $6.2 billion, a 19% quarter-over-quarter increase [2]. - Meta plans to invest at least $600 billion in data centers and infrastructure in the U.S. by 2028, with AI capital expenditures expected to grow by at least 68% in 2025, reaching $66-72 billion [2]. - Google’s Gemini tokens processing has doubled since May 2025, now exceeding 980 trillion tokens monthly, which is anticipated to boost TPU shipments [3]. Group 2: ASIC Impact on PCB and Related Materials - ASICs are becoming a critical growth driver in the AI-PCB segment, with total shipments expected to surpass NVIDIA's GPU shipments by 2026 [4]. - By 2025, Google is projected to ship 1.5-2 million TPUs, while Amazon AWS T2 is expected to reach 1.4-1.5 million units, with the combined AI TPU/ASIC shipments already accounting for 40-60% of NVIDIA's AI GPU shipments [4]. - The report indicates that leading companies in AI electronic fabrics and copper foil have reported profits driven by AI, with a positive outlook on market share and investment in AI technologies [5]. Group 3: Industry Developments and Investments - Zhongcai Technology has achieved significant sales in specialty fiberglass, with plans to expand production by 35 million meters per year [6]. - Copper Crown's high-frequency copper foil production has surpassed 30% of total PCB copper foil output, indicating strong demand and technological advancements [6]. - The report emphasizes the potential for liquid cooling technology to gain traction in AI servers, with ASICs expected to contribute significantly to this growth between 2026 and 2027 [7].