ZDT-KY Chairman Shen Qingfang stated that the AI-driven fourth industrial revolution has just begun, with the high-end PCB and substrate supply gap continuing to expand as AI infrastructure investment accelerates globally. Despite tight funding conditions in the US market with elevated interest rates, Shen emphasized that capital availability should not slow AI-related investment when viewed globally. The statement comes as ZDT-KY, the world's largest PCB manufacturer since 2017, plans NT$200 billion in facility investments across China, Thailand, and Taiwan from 2025 to 2027. Shen characterized the current period as a "golden era" for the PCB industry, noting that production capacity remains insufficient even with potential customer over-ordering, driven by emerging AI demand and global infrastructure buildouts.
ZDT Plans NT$200 Billion Expansion Across Three Countries by 2027
ZDT-KY is planning approximately NT$200 billion in capital expenditure over three years (2025-2027) to construct facilities in China, Thailand, and Taiwan. The company expects to operate 59 global facilities by 2030. Shen Qingfang, who became chairman in 2006, has expanded ZDT-KY's product line from flexible PCBs to include rigid boards, rigid-flex boards, HDI/mSAP, AI servers, and IC substrates. The company surpassed Japan's Ibiden in 2017 to become the world's largest PCB manufacturer, maintaining that position for nine years. The expansion strategy follows Shen's principle of "provisions before troops move," with new factories designed as "intelligent advanced facilities" under the leadership of ZDT-KY CEO Chien Chen-fu, who is driving the group's digital transformation.
US CSP Companies Project AI Investment Growth to 1.1 Trillion by 2027
According to Shen's interview response, the four major US CSP (Cloud Service Provider) companies are investing over 800 billion this year in AI-related projects, with investment amounts projected to reach 1.1 trillion by 2027. These companies face negative cash flow of over 60 billion this year, expanding to over 100 billion next year, while US borrowing interest rates remain elevated. However, Shen assessed that funding constraints are unlikely to slow AI investment, noting that "the US still has abundant capital" and Asian interest rates remain around 2% in Taiwan, China, and Japan. He concluded that "from a global perspective, money should not be a problem."
ZDT Expands Product Portfolio to Cover Cloud-Network-Edge AI Ecosystem
ZDT-KY is developing a comprehensive AI product line spanning "cloud-network-edge" architecture: cloud (focusing on AI servers, high-performance computing, and data centers), network (focusing on high-speed networking, optical communications, and data transmission), and edge (focusing on AI smartphones, AI glasses, smart wearables, robots, and new intelligent terminals). The company aims to provide customers with one-stop shopping services (One ZDT). Shen positioned the company's competitive advantages as "capital-intensive, technology-intensive, and talent-intensive," establishing barriers difficult for competitors to match.
FAQ
What investment is ZDT-KY planning from 2025 to 2027?
ZDT-KY is planning approximately NT$200 billion in capital expenditure over three years (2025-2027) to construct facilities in China, Thailand, and Taiwan, with expectations to operate 59 global facilities by 2030.
How much are US CSP companies investing in AI by 2027?
According to ZDT Chairman Shen Qingfang, the four major US CSP companies are investing over 800 billion this year in AI-related projects, with investment amounts projected to reach 1.1 trillion by 2027.
