Understanding the Market | VGT rises over 5%, Morgan Stanley optimistic about its direct benefits from NVIDIA's platform upgrade cycle

Zhitong
2026.06.11 07:32

VGT rose over 5%, as of the time of writing, up 5.57%, reported at HKD 379, with a transaction volume of HKD 973 million. According to recent news from the Science and Technology Innovation Board Daily, a relevant person from VGT's securities department stated to reporters that the Huizhou base mainly focuses on AI PCBs and will see capacity deployment in the second half of the year; the Thailand base has started production of AI product verification boards, with the main mass production currently focused on automotive electronics and power products. Due to the long product certification and verification cycle for clients such as AI servers and high-end automotive companies, the mass production timeline for related new products has not yet been clarified, with breakthroughs expected in the second half of the year at the earliest. JP Morgan's research report pointed out that it has given VGT an "Overweight" investment rating for the first time, with a target price of HKD 600 by June next year. Morgan Stanley is optimistic about the growth of global PCB demand (especially high-end PCBs), mainly driven by strong demand for artificial intelligence (AI) and significant content value growth, as well as specification upgrades for achieving high-performance computing. The firm expects VGT to be a direct beneficiary of NVIDIA's platform upgrades from Blackwell to Rubin/Rubin Ultra and subsequent series

According to the Zhitong Finance APP, Victory Giant Technology (02476) has risen over 5%, currently up 5.57% at HKD 379, with a trading volume of HKD 973 million.

On the news front, according to a recent report from the Science and Technology Innovation Board Daily, a relevant person from the securities department of Victory Giant Technology stated to reporters that the Huizhou base mainly focuses on AI PCBs and will see capacity deployment in the second half of the year; the Thailand base has started production of AI product verification boards, with the main production currently focused on automotive electronics and power products. Due to the long product certification and verification cycle for clients such as AI servers and high-end automotive companies, the mass production timeline for related new products has not yet been clarified, with breakthroughs expected in the second half of the year at the earliest.

JP Morgan's research report pointed out that it has given Victory Giant Technology an "Overweight" investment rating for the first time, with a target price of HKD 600 by June next year. Morgan Stanley is optimistic about the growth of global PCB demand (especially high-end PCBs), mainly driven by strong demand for artificial intelligence (AI) and significant content value growth, as well as specification upgrades for high-performance computing. The firm expects that Victory Giant Technology will directly benefit from NVIDIA's platform upgrades from Blackwell to Rubin/Rubin Ultra and its subsequent series

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