AI Server Upgrades Drive Demand for Passive Components, MLCC Industry Chain to Maintain High Prosperity

English summary

The industry logic for MLCC (multilayer ceramic capacitors) mainly stems from upgrades in AI servers and data center equipment. MLCCs store and release charge in electronic circuits, and perform functions such as power regulation, filtering, and noise suppression. As AI server power density and component counts increase, demand for smaller, high-capacity, low-loss, and high-reliability capacitors rises simultaneously. Additionally, Samsung Electro-Mechanics recently signed a $204 million long-term order for AI-server-specific MLCCs, and expectations for capacity expansion among leading industry-chain companies have notably heated up, potentially reopening the upward channel for the entire passive components sector. This article will analyze the underlying industry logic and investment value of related targets from a full industry-chain perspective, from upstream core powder materials to downstream AI servers and other end-use scenarios, presenting a clear industry growth trajectory for investors.…