$AMZN is following the $NVDA playbook:
Taking equity stakes in suppliers to help fund their working capital
Amazon is investing $50M in Gold Circuit Electronics (GCE), a Taiwanese PCB supplier for AI servers and network switches
Amazon will buy 1.856M new shares at NT$856 each, a 20% discount to the reference price
GCE supplies all four major cloud providers and is benefiting heavily from custom AI and server demand
Its August revenue hit a record NT$10.38B ($326M), up 76.4% YoY. January-August revenue reached NT$64.06B ($2.01B), up 71.3% YoY
This is Amazon’s second investment in Taiwan’s AI supply chain, following its investment in Alchip in 2024