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The AI server boom is intensifying demand for high-end capacitors, creating a sellers’ market for MLCCs and spurring investment in advanced silicon capacitors. AI racks using powerful GPUs/TPUs require tens of thousands of MLCCs with stricter specs, benefiting domestic Chinese suppliers like Sanhuan Group that are rolling out high-voltage, high-capacitance product lines to capture localization orders. Incumbent Japanese and Korean players still dominate top-tier MLCCs, but supply tightness has elevated firms across China and elsewhere. Meanwhile Samsung Electro-Mechanics’ large silicon-capacitor contract highlights a strategic shift toward ultra-low-resistance, high-density solutions tailored to AI-package power integrity, signaling diversification across capacitor technologies.
AI servers are driving both much higher volumes and stricter specs for capacitors, affecting supply chains and component selection. Tech professionals must anticipate procurement, design, and qualification challenges as MLCC and advanced capacitor demand reshapes supplier dynamics.
Dossier last updated: 2026-05-25 09:11:24
昀冢科技 disclosed that its MLCC (multilayer ceramic capacitor) business is still loss-making, with large upfront investment and long payback cycles, and warned investors about risks from intensified competition or shifting downstream demand. The company noted its MLCC products are currently used mainly in consumer electronics and have not been deployed in AI compute servers. The disclosure followed an abnormal stock-price surge across three trading days in May 2026. The statement is intended to caution investors about project returns and market uncertainty.
AI server demand is driving a surge in multi-layer ceramic capacitor (MLCC) requirements, with a typical AI server needing roughly 15,000–25,000 MLCCs and stricter specs for high frequency, capacitance, voltage and temperature tolerance. While Japanese and Korean firms like Murata and Samsung Electro-Mechanics still lead high-end AI-grade MLCCs, several Chinese A-share companies are expanding into the AI supply chain and advanced materials. Sanhuan Group is highlighted as a domestic MLCC leader, launching high-voltage, high-capacitance series (e.g., 0805-105-100V) to address power management around high-performance GPUs/TPUs, improving market share in networking and servers and positioning to capture AI server localization orders. This matters for hardware supply chains, localization and data-center buildout.
@kugo_A10: MLCC全球超级缺货。AI服务器、车用电子把高端产能全抢光。 明年之前看，都会是卖方市场。 前几天拿了点风华高科底仓。 这个方向，感觉有点搞头。 梳理了下受益的几家公司：风华高科、三环集团、国瓷材料。
Samsung Electro-Mechanics (SEM) announced a two-year supply contract worth about 1.5 trillion won (~6.834 billion CNY) with a large global company to deliver silicon capacitors, marking SEM’s first large-scale commercial win in this product line. Silicon capacitors are ultra-compact, high-performance components made from silicon wafers and are used inside high-performance semiconductor packages for AI server GPUs and HBM to improve power stability and reduce noise. Compared with MLCCs, they offer much lower resistance (under 1/100) and support high-density integration, meeting the strict power and signal-integrity demands of large, multi-layer, high-power AI chips. The deal supports SEM’s strategic pivot toward advanced semiconductor substrates and high-value components.