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Nomura raises target prices for nine semiconductor companies, projecting a new AI cycle peak in 2028

Nomura raises target prices for nine semiconductor companies, projecting a new AI cycle peak in 2028

AiCoinAiCoin2026/07/01 03:20
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According to Chaoxiang Research, Nomura Securities has extended the AI cycle peak to 2028. The number of global data center projects has increased from 240 to 280, and gigawatt-level projects have risen from 40 to 50, with deployment peaking after 2027. The global server market growth rate has been adjusted upward to 74% (2026) and 65% (2027), while the AI server growth rate has been raised to 78% (2026) and 76% (2027). There is a bottleneck in wafer-level substrate (WoS) capacity, with TSMC’s capacity target at 2 million units and Nomura Securities estimating actual output at 1.8 million units. AMD, Arm, and Nvidia are expanding CPU market scale.
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