Taiwan's Shinkong Synthetic Fibers jumped sharply after saying it is moving into AI-related materials — good news for holders of old-economy textile stocks finding a new growth story.

• The stock briefly hit its daily limit-up before settling with a gain of about 4%, on heavy volume.
• The company is supplying materials for AI server racks, GPUs and CPUs, and some products are already shipping.
• AI work is still under 10% of sales, but the company hopes to push that toward 20-30% over time.
• The traditional fiber business is heading into its stronger half of the year, and customers moving supply chains out of China is helping.

Outlook: The AI story is early, so the share price will likely stay volatile until the AI share of revenue actually crosses 10%.