Taiwanese server maker Wiwynn has begun production at its new US plant, good news for AI server demand but a sign of heavy spending ahead.

• The US plant is now making air-cooled servers first, with water-cooled machines the focus of later expansion.
• Mexico stays the biggest production base; the US site should reach a fifth to a quarter of Mexico's size next year, or about 20% of total capacity.
• AI and custom ASIC servers will match general-purpose servers in the third quarter for the first time, and go higher in the fourth.
• Spending is jumping to nearly NT$30 billion in the second half, with more next year for Taiwan, Tainan, and Malaysia sites plus cooling and power upgrades.
• August sales hit a record, and revenue and inventory are both high going into a fourth quarter the company sees as strong.

Outlook: New AI GPU platforms ship late in the fourth quarter, with fresh ASIC projects expected next year.