South Korea and Taiwan chipmakers in 'sweet spot' no matter who wins AI race, says analyst

Manishi Raychaudhuri of Emmer Capital Partners said that regardless of which AI model ultimately wins, the structural beneficiaries are clear - the infrastructure providers in South Korea and Taiwan. He also noted that China is carving out its own role in the AI build-out, particularly in mature chip nodes, with the opportunity more concentrated in onshore markets than in Hong Kong, which explains why A-shares have been outpacing their offshore counterparts.