Taiwan’s Aspeed Technology, the world’s leading server management chip manufacturer, reported record-breaking March revenue of NT$755 million (US$23.9 million), surging 110.27% year-on-year and 23.93% month-on-month. This impressive performance pushed first-quarter revenue to NT$2.07 billion (US$65.5 million), showing remarkable 103.77% annual growth despite a slight sequential decline of 1.85%.
The results significantly outperformed the company’s own projections of NT$1.7-1.8 billion quarterly revenue. Nevertheless, Aspeed’s stock plummeted to its daily limit of NT$2,740 yesterday, dropping NT$300 amid broader market declines triggered by U.S. President Trump’s tariff policies.
Analysts remain cautious about Aspeed’s second-quarter outlook, noting that while mainland China’s cloud infrastructure spending appears robust, it constitutes only 10-20% of global cloud capital expenditure. This limited share makes it challenging to offset the broader slowdown in global cloud spending that may follow macroeconomic uncertainty.
The company’s growth engines include both baseboard management controller (BMC) chips for AI servers and its Cupola360 panoramic imaging chips. Industry watchers anticipate Aspeed’s new AST2700 BMC chip, already sampling with customers, could drive future growth when it begins shipping in late 2025, though volume production might only materialize in the second half of 2026.
