Thailand's Delta sees AI boom boosting sales
BANGKOK: Delta Electronics (Thailand) Pcl, 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 artificial intelligence (AI)-related tech, says chief executive officer Victor Cheng.
The maker of components for data centres and electric vehicles is boosting investment to fuel its expansion. The company planned to raise its sales forecast for the second half of this year.
AI-related products, such as networking and data-centre 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 South-East Asian suppliers benefiting as customers including Nvidia Corp expand in the region and beyond to tap rising demand for services such as generative AI.
'All the applications involving AI will continue to grow,' Cheng said. 'This business is not slowing down.'
Among challenges is a US tariff of 19% on Thai exports, though Cheng said he isn't too worried as the company can 'pretty much pass on all the tariffs to customers.'
The United States accounts for as much as 35% of Delta Thailand's sales, he said. — Bloomberg
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