AI demand is still key; midplane adoption visibility in Q425 the earliest AI remains the most interested downstream at all meetings. High Density Interconnect (HDI) and High Layer Count (HLC) PCB demand remains strong from both Nvidia and ASIC, with high order visibility into Q3 and Q425. Discussions around next-gen products mostly revolved around midplane design replacing copper cable in future AI systems. Visibility on adoption of midplane solution (3*26L=78L HLC PCB) will likely firm up in Q425. M9-grade ...