Semiconductor Early Report | U.S. stock chip stocks collectively surge, storage "super cycle" drives continued prosperity in equipment and materials supply chain

May 8, 2026, at the close of trading, the Shanghai Composite Index fell 0.00%, closing at 4,179.95 points; the Shenzhen Component Index fell 0.5%, closing at 15,563.80 points; the ChiNext Index fell 0.96%, closing at 3,796.13 points. The Sci-Tech Innovation Semiconductor ETF (588170) fell 1.86%, and the Semiconductor Equipment ETF Huaxia (562590) fell 2.08%.

Overnight overseas markets: by the close, the Dow Jones Industrial Average rose 0.02%; the Nasdaq Composite rose 1.71%; the S&P 500 Index rose 0.84%. The Philadelphia Semiconductor Index rose 5.51%, NXP Semiconductors rose 1.56%, Micron Technology rose 15.49%, ARM fell 0.02%, Applied Materials rose 6.04%, and Microchip Technology fell 2.45%.

Industry news:

1. U.S. storage stocks expanded their gains, with Micron Technology up over 15%, closing at $743.79 per share, hitting a new all-time high. The rapid development of artificial intelligence has led to explosive growth in demand for high-bandwidth memory chips (HBM), driving the industry into a new super cycle.

2. Global tech giants are competing to extend “olive branches” to South Korea’s major storage manufacturer SK Hynix, offering investments to build new production facilities and funding for expensive manufacturing equipment, all to secure storage chip supplies first. This phenomenon is unprecedented in the global storage chip industry and highlights the severity of the current global chip shortage. The surge of investment proposals from tech giants toward SK Hynix is rare in the history of the storage chip industry, which has traditionally experienced extreme boom and bust cycles. This has also led chip manufacturers to believe that this industry upturn could last longer.

3. Dinglong Co., Ltd. announced on May 6 that its controlling subsidiary Wuhan Dingze New Materials recently achieved three major breakthroughs in the semiconductor CMP polishing liquid field, including products in large silicon wafer polishing liquids, cerium oxide polishing liquids, and TSV polishing liquids for advanced packaging, securing customer orders. The company stated that the combined domestic market size of these three fields exceeds 1 billion yuan, with a very low localization rate.

4. Adata Technology, a major manufacturer of storage modules, stated at its earnings call that the price increase trend for both DRAM and NAND storage chips in 2026 will not change. In the first half of the year, DRAM led the price rise, followed by NAND in the second half. Especially with the simultaneous expansion of demand from AI servers, enterprise storage, and end-user AI devices, the company is more optimistic about NAND chip prices in the second half, expecting a “very high probability of significant increase.” The supply gap is also widening, with “ongoing shortages expected next year.” Adata emphasized that the company is continuously building inventory to meet strong storage demand, with first-quarter inventory around 36.4 billion New Taiwan Dollars (about 7.88 billion yuan), further exceeding 40 billion New Taiwan Dollars (about 8.67 billion yuan) by the end of April.

CITIC Securities pointed out that 2026 is expected to become the year of mass production of domestic super nodes, with domestic computing power competition shifting from “single-card comparison” to “system-level competition.” Performance of domestic cards will continue to explode in 2025-2026Q1, with companies like Cambrian, Muoxi, Moore Threads, Tianshu Zhixin, and Bairun Technology achieving quarter-over-quarter growth in revenue and profit. Due to restrictions on overseas card imports, domestic card demand is exploding, with performance fulfilling expectations, benefiting the domestic computing industry chain. It is expected that domestic server solutions, storage, semiconductor equipment/materials, and other supporting hardware will also experience explosive growth.

Related ETFs: Sci-Tech Innovation Semiconductor ETF Huaxia (588170) and its associated funds (Class A: 024417; Class C: 024418): tracking the only semiconductor equipment theme index on the STAR Market, which has the highest proportion of advanced packaging (about 50%) in the market, focusing on cutting-edge hardware companies in technological innovation.

Semiconductor Equipment ETF Huaxia (562590) and its associated funds (Class A: 020356; Class C: 020357), tracking the CSI Semiconductor Materials and Equipment Theme Index, which has the highest proportion of semiconductor equipment (about 63%) in the market index, directly benefiting from the global chip price surge and the definite demand from “equipment suppliers.”