Nomura projects TSMC's CoWoS capacity to nearly double to 2.0 million wafers by 2027, but conservative output models 1.8 million due to unprecedented shortages in PCBs, IC substrates, and optical components. NVIDIA's CoWoS allocation will shift 90% to Rubin and Rubin Ultra in 2027, while Google's TPU allocation jumps to 480k pieces, backed by Broadcom's $35 billion AI XPV platform.
AI server demand is driving unprecedented component shortages across the supply chain, forcing hyperscalers to lock in advanced packaging capacity years in advance.