Analysts Shift Focus to Taiwan’s Hon Hai, Quanta as SpaceX, OpenAI Funding Wave Lifts AI Supply Chain

Anticipated equity financings by SpaceX, OpenAI, and Anthropic are redirecting investor focus toward undervalued Asian hardware suppliers, with fund managers singling out Taiwanese server assemblers Hon Hai Precision Industry (2317-TW), Quanta Computer (2382-TW), and chip designer MediaTek (2454-TW). The expected tens of billions of dollars in new funding, seen as a fresh catalyst for AI infrastructure spending, is prompting a rotation away from richly priced semiconductor giants. Analysts at IG International estimate the trio’s upcoming listings could generate an additional $70 billion in AI-related capital expenditure, beyond the $750 billion already committed by major hyperscale cloud providers. Jupiter Asset Management’s Sam Konrad says Hon Hai, Quanta, and MediaTek offer direct exposure to multi-year AI buildouts while trading at relatively low valuations. Eastspring Investments (Hong Kong) has also shifted its Asian tech strategy away from semiconductors toward electronic component makers, citing stretched chip stock valuations. The broader supply chain play is expanding as power supply emerges as a critical bottleneck. Some managers caution that a demand shortfall could trigger a capex pullback and sector-wide de-rating.