[Research] 2026-09-13 JADISS research

The rapid advancement of artificial intelligence technology demands unprecedented data throughput and computational power, leading to immense demand for AI data center infrastructure. However, existing infrastructure faces limitations in meeting this demand, with increased power consumption and heat management from high-performance AI chipsets identified as major bottlenecks. Securing efficient power supply systems and innovative cooling technologies is becoming an essential task for the sustainable growth of data centers in the AI era.

The expansion of AI data center infrastructure extends beyond the demand for advanced semiconductors like High Bandwidth Memory (HBM), impacting the entire industry of power management semiconductors that maximize power efficiency, and next-generation cooling solutions such as liquid immersion cooling that effectively remove heat from servers. Furthermore, the importance of high-performance network equipment and optical communication components for transmitting large volumes of data without delay is growing. Technological innovation and production capacity expansion are simultaneously progressing across this entire value chain, reshaping the industry ecosystem.

The AI data center infrastructure industry's growth scenario is materializing with large-scale investment announcements from global companies. While short-term net selling by foreign and institutional investors has been observed for a specific stock, this could be interpreted as temporary supply-demand fluctuations. An increase in the short-selling ratio compared to the average might heighten market volatility, but the possibility of institutional buying turning positive, based on long-term industry growth expectations, cannot be ruled out. Related companies are expected to play a key role in AI infrastructure construction, accelerating technological competition to secure market leadership.

Examining the technical indicators for the benchmark stock, both 5-day and 20-day returns show favorable upward trends, indicating short-term strength. The Relative Strength Index (RSI) at 62.22 is approaching the overbought zone but may still have room for further upside, while the Moving Average Convergence Divergence (MACD) indicator has turned positive, signaling a favorable trend reversal. The stock's position near the upper Bollinger Band suggests strong buying interest.

A hold perspective can be maintained if the global investment trend in AI data center infrastructure continues, and innovations related to power efficiency and cooling technologies are consistently announced. Particularly, if news of orders for key components and solution suppliers or efforts to secure technological standards become visible, a positive scenario will likely continue.

A reduction or sell perspective may be considered if the overall growth of the AI industry slows, or if unexpected technical difficulties or regulatory risks arise in data center infrastructure construction. Additionally, if companies fall behind in key technological competition or experience a decline in market share, their investment appeal may diminish.