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Citi Bullish on AI Infrastructure: Recommends TSMC and Five Other Semiconductor Stocks
Electronic Technology · Semiconductors · economic_daily · 2026-08-04
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Citi Securities maintains a bullish outlook on the semiconductor supply chain, naming TSMC, UMC, and others as 'Buy' candidates amid AI infrastructure growth.
What Happened
Industry Outlook: Citi Securities asserts that despite market skepticism regarding AI monetization, the semiconductor supply chain remains in the early stages of a multi-year expansion cycle. Increased capital expenditure by major cloud service providers confirms that AI infrastructure investment is accelerating rather than slowing down.
Investment Ratings: Citi has issued 'Buy' ratings for TSMC, UMC, ASE Technology, Delta Electronics, MediaTek, and Alchip. Analysts highlight that the shift toward enterprise AI and inference infrastructure is driving demand across the entire ecosystem, from advanced packaging to power management.
Company Highlights: TSMC continues to face tight CoWoS capacity, while UMC is aggressively expanding into silicon photonics. ASE Technology is benefiting from advanced packaging demand, and Delta Electronics expects AI-related revenue to reach 25% of its total, driven by high-efficiency power and liquid cooling solutions.
Future Growth: MediaTek is expanding its footprint in edge AI and automotive sectors, having raised its AI ASIC revenue targets. Alchip is also poised for significant growth, with its CPU business expected to see substantial revenue contributions from hyperscale cloud providers over the next few years.
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