South Korean export data showed a sharp shift in high-bandwidth memory, or HBM, shipments toward Malaysia and away from Taiwan, according to SemiAnalysis ChipBook. The shift suggested that some HBM shipments previously sent to Taiwan for TSMC's CoWoS packaging might be redirected to packaging plants in Malaysia.
The shift came as Intel expanded its advanced packaging footprint in Malaysia through Project Pelican, which entered its final stage at the end of 2025 as part of a US$7 billion expansion. The site was designed to add die sort and die prep capabilities and support EMIB and Foveros packaging, potentially giving Intel more capacity to handle customer demand.
Export data cited in the report showed HBM shipments to Malaysia at about US$1.3 billion, while shipments to Taiwan fell to less than US$3 billion. That compared with a few months earlier, when HBM shipments to Taiwan had exceeded US$5 billion. The change pointed to a notable reallocation in packaging-related supply flows across the region.
According to recent reports, several global technology companies were evaluating Intel's EMIB and Foveros technologies, and the increase in HBM moving into Malaysia may indicate growing use of Intel's advanced packaging services. TSMC has said its advanced packaging capacity remained tight, and it welcomed more packaging capacity in the market during a July 2026 earnings call.
Intel's EMIB demand has also risen, mainly from customers building AI accelerators. Reports said Intel had begun EMIB assembly at Amkor's facility in Incheon, South Korea, to meet rising orders from major AI customers, while the Malaysian expansion could give the site more than twice the advanced packaging capacity of Intel's New Mexico facility.
Article edited by Ysi Chen
