hardware AM market analysis — 2026-09-23

Hardware demand this session is being driven by continued AI infrastructure investment, with reports pointing to knock-on demand across semiconductor assembly, advanced packaging, networking, memory and power equipment. ChipPub notes growing supply-chain attention to embedded silicon capacitors in next-generation AI hardware designs, while other coverage links AI chip spending to a broader rally in infrastructure-linked semiconductor names.

Set against that, PC component costs are rising, with reports flagging pressure across processors, storage and graphics hardware. That squeeze is being framed as a drag on workstation purchasing, raising the prospect that buyers delay upgrades or shift towards leaner configurations rather than absorb higher prices.

Data-centre operators are still described as expanding infrastructure, which underpins demand across the wider hardware supply chain, though power and capacity constraints remain a limiting factor cited in the source pack. The split between resilient AI-linked infrastructure spending and a tougher consumer and workstation pricing environment is the key tension to track into the next session.