Artificial Intelligence
Printed Circuit Board
The concept of AI PCB
The AIPCB (AI server printed circuit board) is a high-end PCB specifically designed for the field of artificial intelligence (AI), primarily used to support the chipsets, optical modules, and other core components of AI servers, whose performance directly affects the computational power of AI systems. This article organizes the upstream materials of PCBs, PCB equipment, consumables, and classifications related to AI servers.
01
Timeline
Latest News Catalyst
NVIDIA Launches New GPU
On the evening of September 9, NVIDIA launched a new GPU, Rubin CPX, designed similarly to ASIC, specifically for long context inference and video generation applications, expected to be released by the end of 2026. Institutions have anticipated the marginal incremental portion of PCBs.
Domestic Computing Power Chain
On August 21, 2025, DeepSeek updated to version 3.1 and stated that the UE8M0 FP8 Scale parameter precision it uses is designed for the upcoming next-generation domestic chips, attracting widespread market attention. Institutions emphasized the importance of the domestic computing power industry chain, from domestic A1 chips to domestic open-source models to downstream applications, forming a comprehensive closed loop of the domestic AI ecosystem.
02
Upstream Materials of PCB
Copper Clad Laminates, Epoxy Resins, Electronic Fabrics, HVLP
NO.1
Copper Clad Laminate
Copper clad laminate is the “electronic circuit substrate”—it firmly presses copper foil onto insulating resin to form the skeleton of the PCB, where all chips and components must be soldered onto this layer of “copper skin + resin” to function. The core companies are summarized as follows:
Jinan GuojiJinan Guoji is one of the top three in the domestic copper clad laminate industry, with an annual production capacity of over 40 million sheets, covering all PCB scenarios in home appliances, computers, automobiles, and communications, and self-producing electronic-grade fiberglass to achieve vertical integration and cost reduction.Shengyi TechnologyShengyi Technology is the largest copper clad laminate manufacturer in mainland China and one of the top three globally, covering a full range of products including high-frequency, high-speed, and packaging substrates, and self-producing electronic-grade fiberglass and special resins for vertical integration.Nanya New MaterialsNanya New Materials is the domestic leader in the full range of copper clad laminates, leading in high-frequency, high-speed, and halogen-free ultra-thin fields, having entered the supply chains of Huawei, ZTE, and Shenzhen South Circuit, and accelerating the expansion of its Thailand base to seize the high-end markets of AI servers and automotive applications.Baoding TechnologyBaoding Technology’s subsidiary, Jinbao Electronics, specializes in fiberglass-based, composite-based, and aluminum-based copper clad laminates, directly supplying PCB manufacturers for use in 5G communications, automotive electronics, and other fields.Nanya New MaterialsNanya New Materials specializes in copper clad laminates and bonding sheets, ranking among the top twenty globally and the top three domestically in PCB substrate suppliers, with capabilities for mass production of halogen-free, high-frequency, and high-speed products, and has been certified by Huawei and ZTE.Hongchang ElectronicsHongchang Electronics specializes in electronic-grade epoxy resins and copper clad laminates, with its high-frequency and high-speed copper clad laminates GA-686 and GA-686N having been certified by Intel and AMD and delivered in bulk for downstream PCB manufacturing for AI servers and high-end graphics cards.Ultrasonic ElectronicsUltrasonic Electronics produces high Tg, halogen-free, and low-expansion coefficient copper clad laminates for Mini-LED backlight boards through its subsidiary Shantou Ultrasonic Copper Clad Laminate Technology Co., Ltd., primarily selling to downstream PCB manufacturers, with its 2025 semi-annual report showing this business revenue of about 950 million yuan, accounting for approximately 16% of the company’s total revenue.
NO.2
Epoxy Resin
Epoxy resin is a thermosetting prepolymer containing two or more epoxy groups in its molecular chain, which must be cross-linked with a curing agent to form a three-dimensional network structure to create a hard plastic with high adhesion, high insulation, and chemical corrosion resistance, widely used in bonding, coatings, electronic packaging, and composite material matrices. The core companies are summarized as follows:
Hongchang ElectronicsHongchang Electronics is the first domestic enterprise to scale production of electronic-grade epoxy resins, with a production capacity of 380,000 tons/year expected at its Zhuhai base by 2025, and its products have been certified for bulk supply to Intel and AI servers.
Dongcai TechnologyDongcai Technology has established special epoxy resin bases in Shandong, Jiangsu, and Sichuan, with a total production capacity exceeding 200,000 tons, focusing on high-frequency, high-speed, and halogen-free flame-retardant series, having entered the supply chains of Shengyi, Taiguang, and Panasonic, indirectly supporting NVIDIA and Intel server systems.
Shengquan GroupShengquan Group has a production capacity of 27,200 tons/year for special epoxy resins, covering high-frequency, high-speed copper clad laminates, chip packaging, and other high-end scenarios, and has been supplying in bulk to leading CCL manufacturers such as Shengyi Technology and Shenzhen South Circuit.
NO.3
Electronic Fabric
Low dielectric electronic materials (also known as low dielectric constant materials) refer to insulating materials with a relative dielectric constant between 1 and 3.9, significantly lower than traditional silica (3.9), which reduce signal transmission loss and delay by lowering molecular polarity and introducing porous structures, mainly used in high-frequency, high-speed PCBs, 5G/6G communications, chip interconnections, and packaging that require low loss and low crosstalk. The core companies are summarized as follows:
01Honghe TechnologyHonghe Technology is one of the few globally and the only domestic company capable of stable mass production of ultra-thin (<28μm) electronic-grade fiberglass, with its ultra-thin, Low-Dk, Low-CTE high-end electronic fabric entering the supply chains of Apple, NVIDIA, and TSMC, breaking the monopoly of Japanese companies and becoming a core domestic supplier of materials for global AI servers and chip packaging.02China National Materials InternationalChina National Materials International does not directly produce electronic fabrics but supplies low dielectric, low expansion electronic-grade fine yarns and ultra-thin electronic fabrics to the PCB industry chain through its subsidiary Taishan Fiberglass, having established a production capacity of 12 million meters/year for ultra-thin electronic fabrics, becoming one of the top three low-loss fiberglass substrate suppliers globally.03International Composite MaterialsInternational Composite Materials does not directly produce electronic fabrics but supplies low dielectric, low expansion electronic-grade fine yarns and ultra-thin electronic fabrics to the PCB industry chain through its subsidiary Taishan Fiberglass, having established a production capacity of 12 million meters/year for ultra-thin electronic fabrics, becoming one of the top three low-loss fiberglass substrate suppliers globally.04China JushiChina Jushi specializes in electronic-grade fiberglass yarns and electronic fabrics, supplying copper clad laminate manufacturers for automotive electronics, consumer electronics, and other fields, and is developing ultra-thin, low dielectric electronic fabrics to meet high-end PCB demands.
NO.4
HVLP
HVLP copper foil is a type of ultra-low profile electrolytic copper foil with a surface roughness of Rz≤2μm, specifically designed for high-frequency and high-speed scenarios above 16GHz, significantly reducing signal loss, and is a key conductive material for high-end PCBs such as AI servers and 5G base stations. The core companies are summarized as follows:
01Nord Co., Ltd.The company has achieved mass production capabilities for HVLP copper foil for 5G high-frequency and high-speed PCBs, and its new generation of highly ductile low-profile HVLP copper foil has been certified by several leading PCB manufacturers, officially applied in high-end scenarios such as AI servers and humanoid robot control modules.02Copper Crown Copper FoilCopper Crown Copper Foil has multiple complete production lines for HVLP copper foil and continues to expand production, with HVLP1-3 having achieved mass supply and entered the supply chains of several leading CCL manufacturers, while HVLP4 is also undergoing full performance testing by customers.03Yihau New MaterialsYihau New Materials disclosed in an interactive session that its HVLP copper foil has been sent to customers for sampling and is in the certification stage, with the fundraising project “Annual Production of 10,000 Tons of High-Precision Electrolytic Copper Foil” planning to allocate part of its capacity for high-frequency and high-speed copper foil to meet high-end demands such as AI servers.04Longyang ElectronicsLongyang Electronics disclosed in an interactive session that its HVLP5 copper foil has been certified by Taiguang Electronics, Taiyao Technology, and other CCL manufacturers and has been sent to NVIDIA for sampling, with mass supply expected to start in the third quarter of 2025, currently in the ramp-up phase of production and has not yet generated revenue.
03
PCB Equipment
Drilling, Exposure, Plating, Mounting, Testing
01
DAZU CNC
DAZU CNC is the global market leader in PCB dedicated equipment platforms, covering six core processes including drilling, exposure, forming, and testing, with its mechanical and laser drilling machines certified by 80% of the top 100 PCB manufacturers worldwide.
02
Chip Micro-Assembly
Chip Micro-Assembly is the leading manufacturer of PCB direct imaging equipment with a 15% global market share, with its LDI equipment having entered the production lines of global top 10 PCB manufacturers such as Shenzhen South Circuit and Jien Ding, used for AI server high-layer boards, HDI, and IC substrate line and solder mask exposure.
03
Delong Laser
Delong Laser disclosed in an interactive session that its PCB business covers laser cutting, marking, drilling, and other precision micro-processing equipment for FPC, PCB, and rigid-flex boards, having entered mass production with some leading industry clients.
04
Dongwei Technology
Dongwei Technology is the leading manufacturer of vertical continuous plating (VCP) equipment for PCBs in China, with its horizontal plating three-in-one and MSAP transfer-type VCP equipment having entered mass production with leading PCB manufacturers such as Shenzhen South Circuit, Huadian Co., and Pegatron, used for high-end HDI, IC substrates, and multilayer board plating processes for AI servers.
05
Kaige Precision Machinery
Kaige Precision Machinery specializes in solder paste printing, dispensing, and packaging equipment, with its solder paste printers ranking among the top three globally and first in China, having entered the SMT production lines of leading PCB manufacturers such as Shenzhen South Circuit, Shenghong, and Jingwang, being a core domestic equipment supplier for the electronic assembly process of high-end HDI and AI server boards.
06
Oat Technology
Oat Technology is the global leader in automated testing equipment for FPC (flexible printed circuits), with its precision needle molds, visual inspection, and multi-process testing machines covering the top global FPC manufacturers, and through the acquisition of AxisTec, it has entered silicon photonic wafer testing, providing key process equipment for PCB and semiconductor manufacturing.
04
PCB Consumables
Drill Bits
01
Ding Tai High-Tech
Ding Tai High-Tech is the global leader in PCB drill bits, with its high-precision micro-tools, grinding and polishing materials, and intelligent CNC equipment covering the entire drilling and forming processes, having entered the supply chains of leading PCB manufacturers such as Shenzhen South Circuit, Shenghong, and Pegatron, providing key consumables and equipment for high-end PCB manufacturing for AI servers and automotive electronics.
02
China Tungsten High-Tech
China Tungsten High-Tech’s subsidiary, Jinzhu Precision, is a leading comprehensive supplier of PCB micro-drills/tools, with an annual production capacity of 680 million micro-drills having entered the supply chains of most PCB manufacturers for high-end PCB drilling processes for AI servers and high-speed communications.
Disclaimer: The materials are sourced from official media and online news resources. If there are any errors, please refer to the latest information. This article is only a compilation of public data and sharing of industry logic, and does not constitute any investment advice, guidance, or commitment. Please read carefully.
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