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Bank of America has spotlighted a select group of Asia-Pacific semiconductor companies well-positioned to ride the wave of surging artificial intelligence chip demand, with Taiwan Semiconductor Manufacturing Company topping the list.
The investment bank's research zeroes in on firms across the semiconductor supply chain expected to deliver significant revenue growth through AI processor production, particularly via partnerships supporting tensor processing units and application-specific integrated circuits for major tech players.
TSMC headlines the rankings as the backbone of next-generation AI chip fabrication. BofA projects that Broadcom's TPU program alone will require between 150,000 and 210,000 advanced front-end wafer capacity slots from TSMC in 2026 and 2027, translating to roughly $4.5 billion and $6.1 billion in revenue. Advanced packaging demand tied to Broadcom's CoWoS supply is estimated to add another $2.3 billion and $2.6 billion. When factoring in Broadcom's broader product lineup and ASIC customers like Meta, OpenAI, and Apple, this segment could account for 11% to 14% of TSMC's total sales by 2027, up sharply from 6% between 2023 and 2025.
King Yuan Electronics emerges as another compelling pick, with BofA calling it the best-positioned firm to capture growing TPU testing business across both Broadcom's training chips and MediaTek's inference chipsets. The company holds dominant market share in final testing for both clients, further bolstered by chip probing work outsourced from TSMC.
Chroma ATE draws analyst attention for its strong earnings trajectory, with BofA forecasting a 50% compound annual earnings growth rate through 2027, driven by robust sales expansion and improving margins. The bank placed a price target of NT$1,750 on the stock.
Global Unichip Corporation rounds out the group, with AI-linked wafer demand from Google's Axion CPU project potentially representing up to 40% of its total sales by 2027, reaching nearly $960 million.
