Goldman Sachs just raised its price target on Taiwanese AI server maker Wiwynn, a bullish sign for the stock even as Taiwan's broader market has been choppy lately.

• Goldman bumped its target price to roughly NT$4,000 after Wiwynn's September revenue beat expectations, and expects Q4 revenue to jump 60% from a year earlier.
• The growth comes from four sources: strong demand for custom AI server chips, steady demand for traditional servers, new Nvidia/AMD-powered AI server racks starting mass production this quarter, and new customers coming on board for custom AI chips.
• Goldman also raised its profit forecasts for Wiwynn through 2028, expecting earnings per share to grow very fast over the next couple of years.
• The bigger picture helps too: Goldman raised its forecasts for how much big cloud companies will spend on AI infrastructure through 2028, which should keep demand high for custom AI server makers like Wiwynn.
• Despite the upbeat forecast, Wiwynn's stock has been volatile and sold off sharply in recent trading sessions, caught up in broader worries about an AI bubble and a rocky Taiwan stock market.

Outlook: If cloud companies keep spending heavily on AI infrastructure as expected, Wiwynn's revenue growth should stay strong into next year, though near-term stock swings may continue amid broader AI bubble fears.