I think we're seeing AI server MLCC demand cause an interesting effect... with tightening capacity for consumer/general-purpose MLCCs. If you get Vietnam flashbacks like I do to $MU / Samsung / SK Hynix -> Legacy DRAM: My thesis is we'll see the same thing here maybe late H2, early 2027 with consumer/broad MLCCs. From July 6th: "the crowding-out effect from AI-oriented high-end MLCC production has begun spilling over into both the automotive and consumer markets." July 28th: "AI Demand Pushes Japanese and Korean MLCC Suppliers to Record Monthly Shipments; Consumer-Grade Order Spillovers Continue to Surge" Aug 12: As [MLCC] capacity shifts from consumer grades to AI-oriented products... (Trendforce) Aug 12: China's electronics market channel checks found 22µF and 47µF MLCCs (used more broadly) out of stock. Then found and said certain manufacturers had stopped taking orders. (for reference: Walsin said high-volume smartphone/PC products such as... 22µF, so it's broader MLCCs) Obviously Samsung Electro-Mechanics/Murata are main beneficiaries of AI server MLCC ramp. But companies with large market share of overall MLCCs like Taiyo Yuden (6976, disclosure: I have positions) with less AI server share, would be a major beneficiary of this. Fun part is, we're only in H2 2026, so the next major bottleneck should be fun!