AI chip demand strains memory supply through 2027, PSMC lifts Q2 margin to 28%

Powerchip Semiconductor Manufacturing (PSMC) reported second-quarter 2026 revenue of NT$17.291 billion（約2.8兆円）, reflecting robust demand across AI-related chip categories. The company's gross margin expanded to 28%, driven by elevated demand for memory chips, power management semiconductors, and advanced packaging solutions. This margin expansion is a direct result of supply-demand imbalances in the foundry market, where AI-driven capacity consumption has outpaced foundry supply. PSMC's management expects memory and specialty-chip shortages to persist through 2027, indicating that supply relief is unlikely within the near term. The sustained tightness in these segments is allowing foundries to maintain pricing discipline, supporting the elevated margin profile demonstrated in the quarter. This outlook underscores how AI infrastructure investment is creating durable supply constraints across key semiconductor categories, reshaping both foundry profitability and the cost structure for downstream device manufacturers.

AI adoption has reshaped semiconductor supply dynamics by concentrating demand on memory, power management, and advanced packaging capabilities. PSMC's second-quarter results demonstrate how this concentration translates into margin expansion for foundries positioned to serve these segments. The company's projection that supply-demand tightness will extend through 2027 signals that relief is not imminent, meaning the pricing environment that enabled the 28% gross margin is likely to persist across the forecast window. This sustained tightness reflects both the scale of AI infrastructure buildout and the time required for foundry capacity to align with the new demand baseline.