中国半导体：AI 热潮下驱动 IC 陷入困境-Greater China Semiconductors -Driver ICs Struggling in AI Boom

Key Takeaways February 4, 2026 12:37 AM GMT A different time than Covid: DDI supply chains benefited from strong PC demand during Covid (see our Novatek upgrade report), expanding gross margins meaningfully. However, the current upcycle is driven by AI via CSP spending, triggering price hikes across components – from memory to CPU, and from foundry to OSAT. For traditional GC semi design houses, we think only a few with AI-linked growth drivers can offset the headwinds (e.g., OW Mediatek TPU report). Greate ...