We see the AI-server MLCC landscape as a tight oligopoly, not a winner-take-all monopoly. High performance bars limit qualified suppliers, yet production load keeps multi-sourcing realistic — the model isn't expected to fundamentally change. Our embedded-MLCC edge: two families in mass production for AI-server IC power lines — a 1005/0402 22μF part from August 2025 and a 2012/0805 100μF part from November 2025.