TAISP · Index 2 of 4 · AI Build-Out Family · monthly cadence · 25 tickers · 5 layers
Taiwan AI Supply Pulse
Taiwan-listed companies must report monthly operating revenue by the 10th of the following month — a hard, audited number with no analyst-estimate noise. TAISP aggregates 25 names across five layers of the AI hardware chain (servers, packaging, foundry, substrates, cooling) into one 0-100 regime read. High score = the chain is shipping faster than its own history. Low score = ordering is cooling.
106 points · since 2017-12
Layer breakdown
Each layer is one stage of the chain. The score is the YoY revenue growth percentile-ranked against this layer's own rolling history. Weights reflect how directly each layer reads AI-server shipments — ODMs at 30% (closest to the GPU build), substrates and cooling smaller (further from the dollar print).
Hon Hai, Quanta, Wiwynn, Wistron, Inventec, Gigabyte — assemble Nvidia/AMD GPU servers for hyperscalers.
ASE, KYEC, Sigurd, ChipMOS, Powertech — back-end packaging, testing, assembly.
TSMC, Global Unichip, Alchip, MediaTek — wafer fab, custom-ASIC design, edge silicon.
Unimicron, Nan Ya PCB, Kinsus, Elite Material, ITEQ, Gold Circuit — ABF substrates + advanced PCB.
Delta, Auras, AVC, Lite-On — power supplies + liquid-cooling for AI servers.
Per-ticker breakdown 24 tickers · sorted by layer
| Ticker | Company | Layer | Revenue (USD est) | YoY | MoM |
|---|---|---|---|---|---|
| 2317.TW | Hon Hai (Foxconn) | AI Server ODMs | $36.21B | +38.4% | +25.7% |
| 3231.TW | Wistron | AI Server ODMs | $11.90B | +87.2% | -17.2% |
| 2382.TW | Quanta | AI Server ODMs | $10.17B | +76.7% | -23.3% |
| 6669.TW | Wiwynn | AI Server ODMs | $5.39B | +100.0% | +19.6% |
| 2356.TW | Inventec | AI Server ODMs | $3.08B | +62.9% | +18.5% |
| 2376.TW | Gigabyte | AI Server ODMs | $1.97B | +125.4% | +33.1% |
| 3711.TW | ASE Technology | OSAT / Test / Packaging | $2.75B | +45.5% | +7.2% |
| 6239.TW | Powertech | OSAT / Test / Packaging | $266M | +27.0% | -0.6% |
| 2449.TW | KYEC | OSAT / Test / Packaging | $127M | +24.5% | -0.2% |
| 8150.TW | ChipMOS | OSAT / Test / Packaging | $87M | +33.8% | +0.2% |
| 6257.TW | Sigurd | OSAT / Test / Packaging | $65M | +26.3% | +1.0% |
| 2330.TW | TSMC | Foundry / Design / ASIC | $16.00B | +54.6% | -0.6% |
| 2454.TW | MediaTek | Foundry / Design / ASIC | $1.73B | +2.0% | -13.7% |
| 3661.TW | Alchip | Foundry / Design / ASIC | $312M | +496.0% | +13.7% |
| 3443.TW | Global Unichip | Foundry / Design / ASIC | $223M | +97.8% | +22.3% |
| 2383.TW | Elite Material | Substrate / PCB / CCL | $673M | +168.9% | +6.9% |
| 3037.TW | Unimicron | Substrate / PCB / CCL | $583M | +64.7% | +5.1% |
| 2368.TW | Gold Circuit | Substrate / PCB / CCL | $291M | +55.5% | -10.2% |
| 6213.TW | ITEQ | Substrate / PCB / CCL | $182M | +110.7% | +15.5% |
| 8046.TW | Nan Ya PCB | Substrate / PCB / CCL | $175M | +57.8% | +4.4% |
| 3189.TW | Kinsus | Substrate / PCB / CCL | $162M | +44.5% | +7.7% |
| 2308.TW | Delta Electronics | Cooling / Power / Components | $2.04B | +14.6% | +1.3% |
| 3017.TW | AVC | Cooling / Power / Components | $657M | +44.9% | +7.9% |
| 2301.TW | Lite-On | Cooling / Power / Components | $589M | +22.1% | -3.8% |
Equity Gap · TAISP vs Taiwan AI Basket Diverges 1-3M ahead
TAISP composite reads what's already shipped (revenue). The 25-stock equity basket reads what the market expects to ship next (price). When the index rises while the basket lags, the chain is delivering ahead of market consensus — historically a constructive setup for the broader AI capex thesis.
AI Build-Out Index Family 4 indices · supply-side AI hardware tracking
CCST · TAISP · MHP · STP — four independent indices, each with its own data source, equity basket, and equity-gap signal. Read them together: when one moves before the others, that's the rotation signal. (Agentic-demand-side tracking lives in the separate Agentic Demand Index.)
AI Build-Out Index — equal-weighted average of the 4 live indices below (4 of 4 reporting). Each index counts once; one with no current reading drops out rather than being imputed.
- CCSTCompute Spot Tightness60.0 / 100 NeutralSpot GPU rental + cross-gen ratiosDaily scrape · biweekly composite
Spot market for GPU compute — rental rates, availability, and cross-generation price ratios (H100/B200, A100/H100). High = compute scarce.
Open index → - TAISP You are hereTaiwan AI Supply Pulse74.0 / 100 TightTaiwan ODM + OSAT + foundry revenueMonthly · TWSE filings
Monthly revenue from 25 Taiwan-listed AI hardware suppliers across 5 layers — AI server ODMs, OSAT, foundry, substrate, cooling. Audited filings, no analyst noise.
- MHPMemory / HBM Pulse23.0 / 100 LooseHBM Big-3 supply + equipment + packagingMonthly · 21st
The HBM bottleneck that gates AI accelerator shipments. SK Hynix / Samsung / Micron — when they sell out, the AI capex ceiling is set. Lead-vs-coincident divergence signal 2-4 months ahead of revenue print.
Open index → - STPSemicap / Test Pulse27.0 / 100 LooseEquipment cycle gating silicon supplyMonthly · 18th
Equipment cycle that gates silicon supply. ASML / AMAT / LRCX / Tokyo Electron order books → fab capacity 6-12 months later. Cycle-stage detector reads front-end vs back-end gap.
Open index →
Methodology
TAISP is the second of the Closelooknet AI Build-Out Index Family — a 4-index suite tracking the AI hardware supply chain (Compute Spot Tightness · Taiwan AI Supply Pulse · Memory/HBM Pulse · Semicap/Test Pulse). Each index has its own data sources, equity basket, and equity-gap signal. Closelooknet Agentic Usage Pulse (AUP), tracking demand-side AI adoption, is a separate standalone index in its own track.
Data comes from the TWSE Open-API monthly revenue feed (t187ap05_L). Taiwanese listed companies are legally required to report monthly operating revenue by the 10th of the following month. The TAISP worker scrapes on the 16th of each month — a safe buffer for late filers and data settlement.
Per layer: equal-weighted average year-over-year revenue growth across all tickers with a comparable prior-year same-month figure. Per layer score: percentile rank of that YoY against the layer's own rolling 24-month history. First few months use a deterministic heuristic until history accumulates.
Composite: layer-weighted sum (ODM 30%, OSAT 25%, foundry 20%, substrate 15%, cooling 10%). 70+ = chain accelerating, 40-70 = steady, below 40 = decelerating.
Index reading is a diary entry on our process. Closelooknet publishes research, not investment advice.