GigaVis is not an AI chip maker or a substrate producer. It is an inspection, review, repair, automation and software equipment supplier for high-end FC-BGA / ABF substrates used in AI GPUs and ASICs. Its 2026 disclosed orders total KRW 29.41B, or 56.1% of FY2025 revenue, while the FY2025 mix was AOI/VRS/AOR-heavy with FA and software attached.
The AI Chip & Memory Forward P/E Map shows Samsung Electronics and SK hynix trading at the lowest P/E cluster in the AI chip basket. Micron deserves a U.S.-listed AI-memory proxy premium, but the Korean memory discount looks excessive if EPS durability holds.
Goldman lifted FY2025-2030 hyperscaler capex expectations to $5.3T, while Alphabet guided 2026 capex to $180-190B and a further increase in 2027. For Korean equities, the better read-through is not broad AI beta but power equipment, Samsung Electro-Mechanics, high-layer PCBs, optical links and eSSD/storage bottlenecks.
Broadcom's Q2 FY2026 result was not an AI-demand slowdown. It was an expectation reset. Q2 AI semiconductor revenue was $10.8B, Q3 guidance is $16.0B, and the FY2027 $100B+ AI semiconductor frame remains intact. For Korea, the read-through is HBM, FC-BGA, silicon capacitors, AI networking PCBs, packaging equipment and test.
A NAVER follow-up on why NVIDIA’s Jensen Huang would engage NAVER after SoftBank, YTL and Dell: NAVER Cloud, 60,000+ GPUs, sovereign AI, physical AI and valuation re-rating conditions.
A follow-up to the Marvell / Broadcom connectivity thesis: AI optical interconnect bottlenecks are moving deeper into EML and CW-DFB laser sources. Korea's most direct proxy is OE Solutions, but customer qualification and repeat orders matter more than product headlines.
A forward PER parity check for Samsung Electronics, SK hynix and Micron shows Korean memory leaders trading at a discount to Micron. As of June 1, 2026, Samsung/Micron is 0.82x and SK hynix/Micron is 0.80x.
Korean institutional flow can be misleading because financial-investment accounts include ETF liquidity provision, programs and hedging. A cleaner real-money lens focuses on investment trusts, private funds and pensions.