According to a Bloomberg report on May 31, with SpaceX, OpenAI, and Anthropic collectively raising tens of billions of dollars and initiating IPO processes, investors are shifting their focus from fully priced leading chip stocks like TSMC, Samsung, and SK Hynix to more downstream segments of the Asian supply chain — server components, advanced packaging materials, liquid cooling systems, and manufacturers of data center power equipment. The core logic for investors is: the funds that SpaceX, Anthropic, and OpenAI are about to raise will trigger a new round of tech capital expenditure, a significant portion of which will flow to the aforementioned component suppliers, potentially catalyzing a new historic rally in Asian stock markets. In 2025, affluent Asian investors poured $24.3 billion into global AI private funding rounds, nearly triple the amount from the previous year; in the first four months of 2026, they pledged an additional approximately $950 million. AI startup funding in Asia hit a single-quarter record of $11.2 billion in Q1 2026, primarily concentrated among Chinese companies.
Tech giants have already committed over $750 billion to AI-related capital expenditure, and the IPOs of these three companies will add to that. The Bloomberg report notes that as semiconductor shortages ripple down the supply chain, new supply-demand bottlenecks are emerging in electronic components, advanced packaging, thermal management, and power equipment. At the same time, concentration risk and valuation pressure among top chip stocks are prompting some funds to seek a wider buying window. Samsung and SK Hynix are reported to have locked in HBM supply agreements for OpenAI’s Stargate project, while Taiwan’s CoWoS advanced packaging capacity remains tight. Analysts believe the next phase of this AI market cycle may be led by second-tier Asian suppliers that benefit from the expansion of computing infrastructure but have not yet been fully priced in.