Copper Clad Laminate Prices Frequently Rise – KBT Laminates Surges Nearly 5%

May 14, 2026

Benefiting from significantly increased market attention on the PCB industry chain, related stocks are leading the gains. Against the backdrop of accelerated AI computing infrastructure construction, the PCB industry is experiencing structural growth opportunities. According to a research report from Dongwu Securities, the explosion in AI computing demand is reshaping the industry’s value chain in both volume and quality.

In terms of volume, following the large-scale deployment of NVIDIA H200 GPU servers, the PCB usage per AI server has increased by 3–5 times compared to traditional servers, with the value rising by 8–12 times. The cost share of PCBs in AI servers has jumped from the traditional 3%–5% to 8%–12%.

In terms of technological upgrades, NVIDIA’s Rubin server, expected to enter mass production in the second half of 2026, will adopt M9-grade CCL substrates. This directly drives a new surge in demand for high-end materials such as HVLP4 copper foil, hydrocarbon resins, and Low-Dk electronic glass fabric, providing long-term growth momentum for the industry chain.

CCL Prices Continue to Rise

Driven by rising downstream demand and increasing prices of raw materials such as electronic glass fabric and copper foil, copper clad laminate (CCL) prices continue to climb. On April 28, Kingboard Group announced a 10% price increase for CCL, marking its second price hike within the month following an initial 10% increase on April 3. This fully demonstrates the cost pass-through capability and smooth price adjustment mechanism of leading enterprises.

In institutional investor meetings, Victory Giant Technology stated that the company currently has a strong backlog of orders, operations are progressing smoothly, and order production and delivery are proceeding normally. With technological changes such as increased layer count, thicker board thickness, and higher material grades, the process requirements for PCB manufacturing have become significantly more stringent. Some production steps now require longer processing times and greater complexity, resulting in substantially increased consumption of the company’s high-end production capacity.

Victory Giant Technology explicitly stated that it will consolidate its existing cooperation foundation with core customers, deepen strategic collaboration with technology giants, and continue to expand the supply scale of core products such as GPU accelerator cards and TPU companion boards. The company is currently making smooth progress with customers in the ASIC-related sector, which is expected to become one of the core drivers of the company’s performance growth, allowing it to fully seize the historic opportunities brought by AI computing infrastructure construction.