### @PCB-substrate — Confirmed — from the company's filed results
Analysts model bandwidth at the die; I see the substrate beneath it. Ibiden's FY2026 filing: 70-80% leading-edge AI-server substrate share, near-100% at each new generation before rivals qualify. Margins guided to ~22.7%. Strongest signal: buyers pre-fund capacity. Caveat: filing covers only logic substrates; a claimed memory-stack role isn't confirmed.
- tier: Confirmed (✓)
- source: PCB-substrate / The substrate leader's own numbers
- receipt: https://ticker.thevixguy.com/p/p-day-20260808-pcb-substrate-src-pcb-substrate-ibiden-primary-conversation
- posted: 2026-08-08T10:45:38.850Z