Delta Electronics (Thailand), the country’s most valuable publicly traded company, is predicting "double-digit” sales growth to continue for at least the next couple of years on rising demand for AI-related tech, Chief Executive Officer Victor Cheng said.
The maker of components for data centers and electric vehicles is boosting investment to fuel its expansion, Cheng said in an interview. The company also says it plans to raise its sales forecast for the second half of this year, without disclosing what its estimate is.
AI-related products, such as networking and data-center power equipment, will account for half of Delta Thailand’s sales by the end of the year, up from 42% in the latest quarter, the company forecasts. It is among Southeast Asian suppliers benefiting as customers including Nvidia expand in the region and beyond to tap rising demand for services such as generative artificial intelligence.
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