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Morgan Stanley Bullish on AI Semiconductors, Names 23 Taiwanese Stocks as Key Beneficiaries
Electronic Technology · Semiconductors · economic_daily · 2026-09-20
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Morgan Stanley projects the AI semiconductor market will reach $753 billion by 2030, highlighting 23 Taiwanese firms, including TSMC and MediaTek, as primary beneficiaries.
What Happened
AI Semiconductor Market Outlook: Morgan Stanley projects a 30% compound annual growth rate for the AI semiconductor market through 2030, reaching an estimated $753 billion. While capital expenditure growth for cloud service providers is expected to moderate to 12% by 2028, the demand for AI-specific chips remains robust and continues to outpace broader cloud spending.
Key Taiwanese Beneficiaries: The report identifies 23 Taiwanese companies poised to benefit from the AI boom, including industry leaders like TSMC, MediaTek, ASE Technology, Alchip, and Global Unichip. These firms span the entire semiconductor value chain, from foundry and packaging to IC design and equipment manufacturing, positioning them as essential players in the global AI ecosystem.
Memory and ASIC Dynamics: Global demand for high-bandwidth memory (HBM) is expected to significantly outstrip supply through 2027, even with increased capacity from Chinese manufacturers. Furthermore, the industry-wide shift toward custom application-specific integrated circuits (ASICs) by major cloud providers is creating strong tailwinds for Taiwanese IC design houses.
Risks and Considerations: Despite the positive outlook, analysts caution that rising costs could pressure profit margins for IC design firms. Additionally, the concentration of resources toward AI-related projects may lead to potential supply constraints or margin headwinds in non-AI semiconductor segments, warranting careful monitoring by investors.