亚洲AI半服务器：AI泡沫？供应受限时可能性降低-Asia AI Semi & Server

ANCHOR REPORT Global Markets Research 2 December 2025 Asia AI Semi & Server AI bubble? Less likely when supply is constrained AI bubble? We think AI demand is real and fast influencing everyone's life. The "bubble" concern is from the huge (and some circular) investment numbers over the next five years (and elevated valuation accordingly). However, it takes a long way from today to 3-5 years out as the supply chain (e.g. semi, component and power supply) obviously did not prepare for such skyrocketing deman ...