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CYCLEAN is a blockchain-based platform focused on promoting environmentally friendly energy solutions and electric vehicles. The name, which ends with "Cycle" and "Clean", reflects the goal of creating a more sustainable environment through renewable energy. The platform rewards users with CYCLEAN coins for adopting green technologies such as e-bikes, motorcycles and solar systems. These incentives incentivize the use of clean energy and encourage people to move away from fossil fuels.
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GF Hong Kong: AI Server PCB TAM Doubles in One Year to $29 Billion, Upstream Material Bottlenecks Persist Throughout 2027
According to TechFlow Research, GF Securities (Hong Kong)'s August 10 research report estimates that the AI server PCB TAM will expand from approximately USD 13 billion in 2026 to USD 29 billion in 2027. NVIDIA Vera Rubin shipments are expected to be approximately 10,000 racks before the end of the year and approximately 80,000 racks in 2027, with single GPU PCB value rising from USD 400 for GB200 to USD 750; Google TPU v8t/v8i will ramp up volume in 4Q26, with an expected 120,000 racks in 2027, and PCB value per unit ranging from USD 800 to 1000. The upstream E-glass supply gap is approximately 15%, and the HVLP4 copper foil gap is at least 400 tons/month; equipment orders are already booked until 2028, and capacity bottlenecks are expected to persist until the end of 2027. GF Hong Kong initiates coverage on Kin Chu Development, giving a Buy rating with a target price of NT$480, bullish on its HVLP4 copper foil scarcity premium. Meanwhile, it maintains Buy ratings for Zhen Ding (target price NT$729), Elite Material (NT$6538), and Kingboard Laminates (HK$60.8). Zhen Ding benefits from NVIDIA's market share increase and the ABF substrate cycle, Elite Material dominates the AI CCL market, and Kingboard benefits from the E-glass and FR-4 price hike cycle. GF believes that companies with scarce capacity and technical barriers will continue to gain pricing power.
Goldman Sachs: AI Servers Drive PCB/CCL Demand Boom, Market Size to Reach $84 Billion by 2028
According to TechFlow Research, Goldman Sachs' August 5 research report upgraded the 2027 global AI PCB market size by 38% to $38 billion, and the AI CCL market size by 18% to $22 billion, and issued 2028 forecasts for the first time: PCB market $84 billion, CCL market $48 billion, with compound annual growth rates from 2026 to 2028 reaching 148% and 161% respectively. AI server PCB shipments will increase from 1.3 million square meters in 2026 to 4.5 million square meters in 2028, and CCL shipments from 42 million sheets to 131 million sheets. The proportion of HDI above 6 layers will rise from 35% in 2027 to 66% in 2028, and the proportion of CCL above M9 will rise from 41% to 58%. Goldman Sachs gave buy ratings to Shengyi Technology, Victory Giant Technology, Wus Printed Circuit, Panasonic HD, Mitsui Kinzoku, Nitto Boseki, Shennan Circuits, Gold Circuit Electronics, HannStar Board, Zhen Ding Tech, and Elite Material. Goldman Sachs believes capacity expansion cannot keep up with demand growth, industry capacity utilization rates will remain high in the next two years, and the tight supply-demand pattern will not change.
Nvidia pushes the PCB materials competition upstream, HVLP4 copper foil supply gap widens
Citrini analyst jukan posted on platform X, stating that as the expansion of AI infrastructure demand drives an increase in high-end PCB orders, new bottlenecks have emerged in the upstream CCL supply chain; following T-glass fiber cloth, HVLP4 copper foil is expected to become a key constraint from the second half of the year onwards.Industry insiders say that NVIDIA and its major clients have once again directly intervened in material supply coordination to ensure that the mass production and shipment plans for next-generation AI servers remain on track. Led by NVIDIA, clients are now bypassing CCL manufacturers, directly engaging with upstream material suppliers, managing glass fiber cloth and copper foil themselves, providing suppliers with clearer order visibility, shifting to a direct consignment model, and locking in key material production capacity more than a year in advance.The supply-demand gap is expected to exceed 40% in 2026, and will still be 25% in 2027. As major AI servers and high-speed computing platforms migrate from HVLP2/HVLP3 to HVLP4, the demand for HVLP4 copper foil is rising. The supply shortage is expected to reach 1,500 tons in 2026; Mitsui Kinzoku and Co-Tech are expanding production, but the HVLP4 supply gap is projected to widen to 2,500 tons by 2027.