Inventec's AI server demand drove February revenue to US$1.64 billion (US$1 = NT$31.5), up 12.72% monthly and 40.98% annually, with total revenue for the first two months reaching US$3.09 billion, a 20.71% increase. 4Q 2024 revenue hit US$6.27 billion, boosted by early customer pull-ins for AI servers and notebook PCs. While AI server shipments remained strong in February, notebook PC shipments rose slightly to 1.6 million units from January's 1.5 million. Due to 4Q pull-ins ahead of potential U.S. tariffs, 1Q 2025 revenue is expected to see a double-digit decline, but annual growth remains stable. Nvidia Hopper-based H100, H20, and H200 AI server shipments are driving Inventec's strongest business momentum in 1H 2025. The company is evaluating a Texas assembly plant, expanding AI server production in Taiwan, and increasing Thailand's capacity for servers and U.S.-bound notebook PCs.
Compal is expanding its AI server business into India, partnering with Kalyani Group to establish local manufacturing and assembly under India's "Make in India" policy. Kalyani's electronics division, initially focused on EV components, launched India-made servers in February. Compal plans to deepen partnerships with Nvidia and AMD for MGX products, AI training, inference servers, and liquid cooling solutions. To mitigate geopolitical risks, it raised 2025 capital expenditure to US$320 million, up from US$224 million in 2024, and is evaluating U.S. factory options, focusing on AI server production.
According to the Taipei-based Market Intelligence & Consulting Institute (MIC), AI servers are expected to account for 15.9% of global server shipments in 2025, increasing to 17.6% in 2026. MIC predicts Taiwan's share of global server shipments will remain above 80% from 2024 to 2027. Due to the ongoing U.S.-China trade war, rising unit prices, and increased technological entry barriers for AI servers, Taiwan's global share of AI server shipments is expected to exceed 90% starting this year, according to MIC.