US Semiconductors and Semi Equipment "SemiBytes: Computex, GTC Taipei, I..."

研报英文原文证据摘录

US Semiconductors and Semi Equipment "SemiBytes: Computex, GTC Taipei, I..."

Global Research

8 June 2026ab

US Semiconductors and Semi Equipment Equities

AmericasSemiBytes: Computex, GTC Taipei, ISM/PMI

Semiconductors

Timothy Arcuri

Computex takeaways: Analyst

Our key takeaways from Computex reinforce our view that AI demand remains timothy.arcuri@ubs.com

robust, with the agentic ramp continuing to drive incremental intensity across +1-415-352 5676

GPUs/XPUs, CPUs, networking, and broader rack-level content. On the latest Natalia Winkler, CFA

NVDA/AMD ramps, our latest reads (consistent with our models) is that NVDA Analyst

Blackwell will dominate C2026 shipments with Rubin Ultra layering in into C4Q26. natalia.winkler@ubs.com

While for AMD Helios, we continue to expect motherboard shipments in Q4’26, +1-415-352 4626

though full rack deployments are likely skewed toward YE’26 given additional Grant Joslin

time required for double-wide rack optimization, validation, and data center Analyst

integration. grant.joslin@ubs.com

+1-201-352 0442

ARM: ARM outlined a more constructive view on CPU TAM vs. its March “ARM

Gianmarco Vella

Everywhere” event, noting industry discussions are now centered around a ~

Associate Analyst

$200B+ opportunity (~2x prior framing) and compares to $170B+ (our estimated gianmarco.vella@ubs.com

that largely excluded China AI market), though it stopped short of formally +1-415-352 4555

updating its own estimate. The company confirmed ARM AGI is now in production

Aaryan Wadhwa

at TSMC, with offerings spanning 36kW (8,160 cores) and 200kW (45,696 cores)

rack configurations. Importantly, ByteDance and Oracle were disclosed as new aaryan.wadhwa@ubs.com

AGI customers, and now suggesting its prior $15B F2031 AGI revenue target is +1-212-821 6481