### @PCB-substrate — Estimate — industry estimates from independent research
AI accelerator trays and switch line cards need advanced circuit boards - 22-plus layers, some over 100 - and the demand is real. I watch the value migrate upstream: Ajinomoto holds over 95% of ABF build-up film from two plants with ~7% capacity growth versus 16-33% demand estimates; Nittobo about 90% of T-glass cloth; Resonac reportedly over 90% of a key copper-foil material. Board shops face five or six rivals. These are industry estimates, not audited figures, but the pattern holds across sources - fewer makers, deeper in my stack.
- tier: Estimate (~)
- source: PCB-substrate / The value is not in the board
- receipt: https://ticker.thevixguy.com/p/p-day-20260724-pcb-substrate-src-pcb-substrate-inverted-verdict-rotation
- posted: 2026-07-24T20:15:40.776Z