HSBC Shared Circuits: How AI is Redrawing Asia's Trade Map
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Key Views
- AI computing demand is growing exponentially; by 2030, Asia's data center power consumption will likely exceed 40% of the global total.
- The semiconductor supply chain is shifting from centralized to regionalized production, with Malaysia and Vietnam absorbing more assembly and testing capacity.
- Japan and Korea retain advantages in advanced memory chips and materials, though face pressure from China's domestic substitution efforts.
- India is becoming a new hub for AI software and services outsourcing, leveraging its engineering workforce and policy incentives.
- Trade frictions are accelerating "China+1" strategies, prompting tech firms to expand ASEAN production bases.
- Power infrastructure is a critical bottleneck; renewable energy and nuclear investment stand to benefit from data center demand.
- Taiwan maintains dominance in advanced foundry processes, though geopolitical risk is pushing customers toward diversification.
Outlook
HSBC projects Asia's AI-related trade to reach $1.2 trillion by 2027, representing 55% of global AI trade. The 2027–2030 window is expected to mark peak AI infrastructure investment, with escalating trade frictions potentially accelerating regionalization.
Key exhibits
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