Mizuho research signals faster AI data center demand starting Q4 2026, lifting power content per rack to $115,000.
Wolfspeed, STMicroelectronics, and ON Semiconductor shares rose after Mizuho projected a faster-than-expected NVIDIA Vera Rubin ramp, driven by xAI and Meta. Power content per rack is expected to surge from $15,000 to $115,000 under 800V DC, with AI data center revenue doubling in 2026.
The note highlighted 2027 CoWoS growth exceeding 75%, supported by NVIDIA and Broadcom, while cloud service provider backlog reached $2.3 trillion, up 3.5x year over year. The rally follows expectations of stronger VR200 NVL72 ramps in Q4 2026, with potential confirmation at ON Semiconductor’s September 16 Analyst Day and NVIDIA’s next quarterly update.
Shares of Wolfspeed climbed 5.74% to $33.61, STMicroelectronics rose 4.17% to $56.56, and ON Semiconductor gained 2.96% to $85.11 in Monday trading.