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Japanese and Korean MLCC prices rise again: AI server usage surges 13 times, product shortage spreads across entire industry.
MLCC is transforming from a cyclical industry driven by consumer electronics into a structural growth track driven by AI computing power. From 2026 to 2030, the CAGR of MLCC demand for AI servers is expected to reach 55%-64%, and the CAGR of value is expected to exceed 85%-100%.
The certainty of demand and product technology barriers in this cycle are better than the super cycle of 2018: the number of MLCCs used per AI server is about 13 times that of a regular server. The MLCC usage in NVIDIA's Rubin NVL72 cabinet is expected to reach 600k units, and the value per cabinet is expected to jump from approximately $3,000–$5,000 in the H100 era to over $40k on the Rubin platform.
Multi-layer ceramic capacitors (MLCCs) are ushering in a super restructuring cycle with the highest technology barriers, the most severe supply-demand mismatch, and the longest long-term boom span in their industrial development history.