The unprecedented surge in demand for artificial intelligence has led to upstream chip manufacturers prioritizing production capacity allocation to data centers, resulting in unstable supply of PC related CPUs and GPUs. Some manufacturers believe that this situation may continue at least until the first quarter of 2026, PC、 The operation of board manufacturers continues to be under pressure. Acer Chairman Chen Junsheng admitted that he is currently experiencing a shortage of CPUs and memory. Both Intel and AMD are included. It should be said that they may not have every chip we need, or their supply may not be sufficient.
CPU prices have not increased, it is purely a matter of supply quantity. Chen Junsheng said, "It's just that there's no supply. Both sides are currently working hard to coordinate, but there's no sign of relief in the short term." Despite the tight upstream supply chain, Acer still believes that its PC business will perform better in the second half of the year than in the first half, mainly due to seasonal effects and weakened consumer confidence. Chen Junsheng explained that the shipment in the third quarter is to prepare for the sales in the fourth quarter, and "the peak season is the third quarter" is the norm in the industry. He pointed out that at the beginning of the year, the market focused on the performance in the first and second half of the year, and now it is confirmed that the performance in the second half of the year is better. He also pointed out that this wave of growth mainly comes from seasonal effects, rather than factors such as delayed or advanced orders. Lin Kunde, Deputy General Manager of Yingtai, a board manufacturer, pointed out that AMD and Intel are directing their production capacity towards data centers, especially since over 70% of AMD's revenue comes from this business, which has led to unstable supply of PC chips and a vicious cycle of over ordering by board manufacturers.
This has also caused Yingtai's revenue to decrease by about 36.5% in the first eight months of this year. It is estimated that the annual decline will remain within this range, and there will not be much improvement in the fourth quarter. However, PC factories that also operate data center related businesses have not been significantly affected by the shortage of chip supply. On the Asus side, with the shipment of GB200 and B200 series, the proportion of AI server revenue in the second quarter has exceeded 15%, and it is expected to deliver large orders of GB300 and B300 to multiple global cloud service providers by the end of the third quarter. It is expected that the proportion of AI servers will remain at or even exceed 15% in the third and fourth quarters. The company expects a quarterly increase of 5% to 10% in PC product revenue for the third quarter, with confidence in maintaining a full year profit margin of 4% to 5%. Gigabyte benefits from its partnership with AI infrastructure provider Nebius and its acquisition of a cooperation agreement for Microsoft's dedicated GPU infrastructure for data centers. According to institutional reports, Gigabyte is expected to ship GB200 server cabinets to Nebius in the first half of 2025 and GB300 server cabinets later this year until the first half of 2026, with AI server orders adding strong momentum to operations.
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