Vishay is ‘hidden’ winner in Nvidia’s AI servers supply chain, says Ming-Chi Kuo

TF International Securities analyst Ming-Chi Kuo said in a new post on Medium that his latest research shows that Vishay (VSH) is the “hidden” winner as the tech industry focuses on Nvidia’s (NVDA) AI server and RTX 50 series supply chain. Vishay, Kuo says, has secured better-than-expected orders for Nvidia’s Blackwell AI servers and RTX 50 series graphics cards, with the component orders including MOSFET/DrMOS, vPolyTan, Current Shunt Resistors, Transient Voltage Suppressors, and Schottky Barrier Diodes. For GB200 NVL72/36’s 8kW 54V-to-12V power supply, the analyst says Nvidia has switched to a Renesas and Vishay combination, replacing power management modules from Flextronics and Delta. Kuo further states that Vishay’s current MOSFET production capacity in 2025 is fully loaded, and it is expected to contribute approximately 20-30% of revenue, with a higher-than-average gross profit margin. Vishay 3.0 stands to capitalize on robust demand for Nvidia’s AI servers and the new RTX 50 series, with meaningful results anticipated in 2025, and is also well-positioned to benefit from the automotive sector’s rebound and the expanding IoT market, Kuo adds.