Amazon is buying into one of its own suppliers, a strong sign that AI server demand is still running hot — good news for Taiwan's circuit board makers.

• Amazon bought a block of new shares in Gold Circuit Electronics, turning a customer into a shareholder.
• The shares were sold at a fifth below the reference price, giving Amazon a discount for the strategic tie-up.
• Gold Circuit supplies circuit boards for AI servers used by the four biggest cloud providers.
• Amazon's cloud arm has done this before, twice backing Taiwanese chip designer Alchip.
• The company is racing to expand, with Taiwan capacity up 50% this year and Thai capacity up five to six times.

Outlook: Profit margins and earnings are expected to keep climbing through the rest of the year as factories run flat out to fill AI orders.