Taiwan's printed circuit board makers are booming because AI data centers need far more boards than the industry can supply — great news for PCB stocks and their investors.

• AI servers need thicker, harder-to-make boards, and demand is running well ahead of supply.
• Shortages plus rising prices have pushed shares of Taiwan Union Technology, Nan Ya PCB, Unimicron and others past NT$1,000, with one now the sixth most valuable company on Taiwan's market.
• Board makers are spending record amounts on new factories, but this time only after customers pre-book the capacity — a lesson from past gluts.
• Cloud giants are expected to spend over a trillion dollars on AI infrastructure by 2027, and forecasts for the AI board market keep getting raised.
• A new fund built entirely around the PCB supply chain has just launched in Taiwan.

Outlook: The shortage and price increases are expected to run through 2029, keeping PCB stocks at the center of Taiwan's market for the next two years.