Amazon has bought a private placement of new shares in Taiwan's Gold Circuit Electronics, turning a key AI supplier into a part-owned partner — good news for the company and for Taiwan's AI hardware chain.

• Amazon bought the entire private placement, about NT$1.6 billion of new shares, at a 20% discount to the recent market price.
• It is Amazon's first stake in the company, upgrading the relationship from customer to shareholder; the shares are locked up for three years.
• Gold Circuit makes circuit boards for AI servers and supplies AWS, whose new Trainium chips are ramping into volume production from this quarter.
• Revenue for the first eight months is up over 70% from last year, and the board just approved a roughly NT$8 billion new plant.
• The stock opened lower on the news but turned positive, while Taiwan's main index pushed back above 48,000.

Outlook: Sales should keep growing each quarter, putting the company on track for a third straight record year and a run at NT$100 billion in annual revenue.