Taiwan stocks surged more than 1,200 points in early trading on May 27, sending the benchmark index to a fresh record of 44,750. Heavyweights led the move. TSMC climbed NT$55 to NT$2,325, a gain of 2.2%, while MediaTek and Delta Electronics both hit their daily limit-up levels. UMC, Winbond, Nanya Technology, and Macronix also moved higher with the broader semiconductor and memory names.
MediaTek gains attention after Google TPU role emerges
For MediaTek, the rally was tied to new details around its AI ASIC business. Information disclosed at Google Cloud Next 2026 on May 22 showed that the company has joined the design split for Google’s eighth-generation TPU. Google is handling the compute core and HBM procurement, while MediaTek is responsible for the I/O die design, full wafer procurement, and backend packaging integration.
At an earnings briefing, Rick Tsai said follow-up projects are expected from 2028. Goldman Sachs raised its full-year AI ASIC revenue outlook for MediaTek to US$2 billion, double its previous estimate, and set a target price of NT$5,000.
Delta Electronics rides AI power and liquid cooling demand
Delta Electronics was driven by a different part of the AI supply chain. The report said AI servers consume 5 to 10 times as much power as conventional servers, and Delta holds more than 50% market share in AI power supplies. Its liquid cooling revenue is projected to exceed US$1.6 billion in 2025.
A key point for the market is its 800V HVDC technology. Delta has completed sample delivery, and four major North American CSPs are now in the certification process. Shipments could begin as early as the second half of the year. The highest foreign target price cited in the report was NT$1,288.
TSMC remains the base layer for AI chip demand
TSMC stayed at the center of the trade because of its role across the AI hardware stack. The report described CoWoS capacity as a shared bottleneck for AI customers including Nvidia, AMD, and MediaTek. That position kept the stock in focus as capital moved into AI-linked names.
Several Wall Street banks were cited with price targets as high as NT$3,000 for TSMC. Institutional forecasts in the report put its 2026 EPS at NT$98.86, rising to NT$243.45 by 2030. Judging from the morning session, AI compute, advanced packaging, and power and cooling hardware remained the main tracks drawing buying interest.