ASPEED Technology, the world’s largest manufacturer of baseboard management controller chips, raised its fourth-quarter revenue outlook for the second time in two months, signaling stronger-than-expected AI server demand despite broader concerns about market sustainability.
Chairman Lin Hongming told investors Nov. 24 that improved substrate supply allowed the Taiwanese company to ship more chips than anticipated. The Hsinchu-based firm initially guided for NT$17.5 billion to NT$18.5 billion ($555 million-$587 million) in quarterly revenue before raising that target to NT$20 billion-NT$21 billion in October. Lin declined to provide updated figures for the latest revision.
The company’s BMC chips, which remotely manage servers for AI and traditional data center applications, face questions about whether demand growth can persist at current rates. ASPEED projects order visibility through mid-2026 and expects both AI and general server sales to maintain double-digit growth next year.
The firm’s new AST2700 chip, featuring DDR5 memory for improved performance, will enter mass production in the first quarter and account for 10%-15% of 2026 revenue, Lin said. ASPEED also increased its estimate for total addressable market to 46.5 million units by 2030.
Shares rose 5.4% to NT$6,405 ($203), approaching the record NT$6,690 reached earlier this year.
