Taiwan's Alchip is surging as AI custom-chip orders pile up, good news for holders and for the wider Taiwan chip trade.

• Alchip shares jumped over 9% to a record, after local funds bought five days straight.
• August sales hit an all-time high, the third record month in a row.
• The company has landed orders from the world's three biggest cloud providers, with growth expected to run through 2028.
• Cloud work makes up most of the business; crypto-related projects are shrinking and car chips are taking their place.
• Alchip has already locked in TSMC production capacity for next year, helping it take on more orders.

Outlook: A North American cloud customer's next-generation AI chip goes into mass production around the turn of the year, which should keep sales climbing into 2027.