Fubon- "the production push out in Rubin will bring some negative impact to the supply chain as Rubin has higher dollar content compared to Blackwell" $MU: "recent checks suggest that $NVDA HBM4 cost will increase to US$31-32 per GB from US$17-18 per GB (HBM 3e) in 2026." "We estimate nVidia’s Rubin GPU price will skyrocket to US$78-80K assuming nVidia is still able to maintain its GM at 75-80% in chips." "For other GPU and custom-ASIC projects, we believe their HBM cost will be higher than nVidia’s and may reach US$35-36 per GB, meaning the HBM cost will double in 2027." "Despite the market’s AI inflation concern recently, in our view, the token cost is still a more important factor in driving CSP’s capex, and we remain positive about AI market demand." "Our checks suggest nVidia still plans to put the same amount of compute dies in its new rack architecture or system" "Between the two racks, nVidia plans to use NPO/CPO for scale out connection while inside the rack, cable connection is still used for scale up connection" "Based on our checks, Google plans to have 12-15mn TPUs in 2028. Entering 2028, Google’s TPUs will enter the V9 generation with four compute dies, suggesting that their capacity consumption will more than double in 2028 vs. 2027." "Based on our checks, $INTC EMIB capacity will reach 10-12k by the end of 2026, and the plan is to double its capacity to 24-25k per month by the end of 2027." "we see $TSM slowing down its SoIC expansion to prioritize the CoWoS expansion" $AVGO: "we think it is possible that MediaTek could further raise its custom-ASIC market share in 2027."