Emerging Markets: Is AI Compute Demand Durable? | EP 229
Is AI compute demand durable? Emerging markets equity portfolio manager Wen Quan Cheong returns from a research trip across Taiwan and South Korea and examines AI chip demand, the semiconductor supply chain, and the companies with the strongest structural tailwinds. He breaks compute demand into training, alignment, and inference, explains why margins can widen further down the AI supply chain, and shares what TSMC, SK Hynix, and Samsung revealed about whether this capital cycle is different from the dot-com boom. He also explains how the team trimmed into a crowded AI trade, and makes the…
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