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2026/1/19
This article focuses on the key industry under the 2026 AI outlook—memory. From the angles of supply contraction and shifts in demand structure, it analyzes how NAND, DRAM, and HBM—driven by AI data centers, high-performance computing, and enterprise storage—are moving into an industry cycle of broad-based undersupply. With manufacturers maintaining conservative capex, DDR4 entering EOL, the crowding-out effect from HBM intensifying, and AI-driven storage demand growing far beyond expectations, memory pricing has entered an upcycle since 2025 and is set to remain strong into 2026, making memory one of the most structurally advantaged core industries within AI infrastructure.
# Investment
# Financial Planning
# Investment Strategy
# Stocks
# USA
# Taiwan
# Editor's Pick
Against the backdrop of rapidly rising AI compute demand and continuously increasing chip TDP, the thermal management industry is entering a critical technological inflection point. This article is the third installment of fiisual’s 2026 Outlook Series, focusing on the core structural changes in AI server cooling architectures and providing an in-depth analysis of how liquid cooling—driven by GB300 GPUs and AI ASICs—is officially becoming the mainstream cooling solution. The article compares the performance differences between air cooling and liquid cooling, explains the rising value content of key liquid-cooling components such as cold plates, QD, and CDU, and explores the growth drivers, technology roadmaps, and investment opportunities within Taiwan’s supply chain for the thermal industry in 2026.
2026/1/15
Continuing from the previous article, as AI enters its fourth year of development, the market is shifting from optimistic expectations to a more rigorous evaluation of actual performance. In 2026, investment focus is no longer just about whether a company is "related to AI," but rather about who can deliver irreplaceable structural value amid the surge in inference demand and increasing scrutiny on capital efficiency. This article will focus on the ASIC industry, analyzing which segments of the supply chain are most likely to become key beneficiaries in the next phase as AI moves from training to inference. It will also highlight the roles that relevant Taiwanese companies are expected to play in this transformation.
2025/12/15
The wafer production process includes design, front-end manufacturing, and back-end packaging and testing, with packaging being an essential step after wafer fabrication. This article provides an in-depth overview of the packaging industry's value chain—covering upstream packaging material suppliers, the differentiated business models of midstream wafer foundries, and downstream packaging service providers. It also briefly introduces key players at each stage. In addition to the value chain, the article discusses the current outlook and future prospects of the packaging industry, highlighting notable Taiwanese stocks such as TSMC (2330.TW) and Grand Process Technology (3131.TW).
# Fundamental Analysis
# Manufacturing Industry
LINE Pay Taiwan, leveraging the massive user base of the LINE messaging app, has gradually built a comprehensive ecosystem that spans payments, marketing, and financial services. This article provides a brief overview of LINE Pay’s development journey, breaks down its two major business models—B2B2C and B2B—and examines the changes following the end of its partnership with iPASS Money. As Taiwan’s cashless payment market continues to grow, the article also analyzes future market trends and compares LINE Pay’s strengths and weaknesses against competitors like JKOPay and PX Pay Plus.
# Japan
2025/12/1
CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) is one of the most significant regional trade agreements in the Asia-Pacific region, currently encompassing 12 major member countries and accounting for approximately 13% of global GDP. This article provides a brief overview of CPTPP’s development history, core provisions, and its distinctions from RCEP. It also explains why Taiwan has actively sought to join in recent years. However, Taiwan faces several challenges in the application process, including political pressure from China, meeting the agreement’s high standards, and achieving consensus among existing member states. These factors will significantly impact Taiwan’s prospects for successfully joining CPTPP.
# Macroeconomics
# China
2025/9/23
Apple has long maintained its leadership position in the global consumer electronics industry, driven not only by product innovation but also by a highly efficient and deeply integrated global supply chain. This article analyzes Apple’s supply chain strategy, highlighting a gradual shift from a China-centric model to a more globally diversified layout. Throughout this transition, Taiwan continues to play an indispensable role in critical segments such as semiconductor foundry, optical components, PCB, IC packaging and testing, and final product assembly—consistently supporting Apple’s technological edge and market competitiveness.
# Investment Analysis
2025/9/9
As global demand for computing power surges, silicon photonics technology has emerged in response. Among its applications, Co-Packaged Optics (CPO) stands out as one of the most prominent extensions. This article provides an in-depth overview of the advantages of CPO and its critical components, including the silicon photonic engine, external lasers, fiber arrays, polarization-maintaining fibers, and MPO connectors. It also introduces several key companies involved in the field and outlines the major anticipated applications of CPO in the future.
2025/8/26
Delta Electronics (2308) has evolved from a traditional electronic component manufacturer into a key player in the power supply market in recent years . This article outlines Delta’s four major business segments, global footprint, core clients, key competitors, and its future outlook. Delta stands to benefit from rising power demand driven by AI data centers. The company’s co-developed "Panama power architecture" , and water-cooling thermal management solutions have seen growing shipment volumes. Overall, Delta’s performance in AI-related products looks promising.
2025/8/22
As artificial intelligence continues to emerge as a global development trend, the U.S. government officially announced in 2025 the launch of the “Stargate” AI infrastructure initiative, jointly led by OpenAI and SoftBank. This article outlines the project’s short-, mid-, and long-term objectives, introduces the key participating partners, compares AI development strategies across major countries, and concludes with an analysis of potential opportunities for Taiwanese companies. The Stargate initiative carries significant strategic and industrial implications. If its core stakeholders can resolve internal conflicts and effectively execute capital and resource allocation, the project has the potential to become a benchmark for global AI infrastructure advancement.
# Africa
# Monetary Policy
