[Taiwan’s Weekly Standout #4#] Taiwan Glass (1802 TT) reported a 56.5% jump in October revenue to NT$5.57 billion, citing stronger glass-fabric demand from AI and other smart technologies. Its shares rose 47.2% between the Nov. 6 and Nov. 13 closes. The company makes glass yarn and fabric used in electronic materials. Two product families connect it to AI hardware. Low-DK glass fabric helps reduce signal loss in high-speed circuit boards. Low-CTE glass fabric limits thermal expansion in chip-package substrates, helping reduce warping as the chip and substrate expand by different amounts when heated. We estimates that October revenue from high-end glass fabric rose about 14% to 17% from September. The two product families are ramping at different speeds. Low-CTE shipments began in small volumes in late 2025 and have increased substantially since early 2026. Low-DK2 is expected to contribute more revenue than Low-CTE in 2027, with Low-CTE narrowing the gap as new capacity comes online in the second half of 2027 and 2028. On Nov. 2, Chairman Lin Po-feng said high-end glass-fabric supply was still falling short of demand. Taiwan Glass is targeting 2027 completion and production for its third expansion phase and has launched a fourth, according to Economic Daily News. Our read is that Low-DK2 shipments for high-speed circuit boards matter more to near-term growth, while Low-CTE for package substrates offers a longer ramp.

Taiwanese here. A lot of Nvidia's server, rack, cooling and power suppliers in Taiwan started as old-economy family businesses. Foxconn began in 1974 making plastic knobs for TVs. That world still runs on ties built over years of dinners and drinks, and many of the strongest ones sit with Jensen personally. Getting that many supply chain bosses around one table isn't easy, and Jensen had the pull to do it. I think it does make a difference when the CEO across the table isn't familiar with Taiwanese culture. When a problem spans several suppliers, someone still has to get every decision-maker in the room, and that person is now gone. Local analysts don't see every supplier as equally exposed. $TSM, $ASX and MediaTek (2454TT) were called irreplaceable, since any AI chip still needs them, whether for wafers, packaging or design. The worry is the next tier down, where several Taiwanese vendors can do the same job and relationships help decide who gets the order. One Taipei analyst called it a risk of orders getting "poached." I don't think this supply chain can be replaced anytime soon. Any lost Nvidia orders would likely shift to other customers, and the same suppliers already build for $AMD and custom ASIC programs.