Taiwanese chip test-interface maker Winway sees no AI bubble and is expanding capacity again, a positive sign for the whole AI supply chain.

• The bottleneck is not demand but supply — AI orders from cloud providers and server makers keep growing.
• Winway will add about 50% more capacity between the second and third quarters of next year, and is looking outside for extra help while keeping its core technology in house.
• Chip makers, packaging firms and equipment suppliers are all planning big spending for the next two to three years, which argues against the bubble worry.
• AI chips now need roughly twice the connection pins of old CPUs, and the next generation could double again — pushing lead times from eight weeks to fourteen or more.
• Higher pin counts also mean higher prices per part, so revenue should rise along with the complexity.

Outlook: Tight supply and longer lead times look set to continue through next year, with Taiwan's chip industry aiming for a smoother, more integrated supply chain by 2028.