Serenity: Chinese power semiconductor firms raise prices for the second time this year, driven by AI data center demand, a boon for U.S. power semiconductor stocks

In 2026, nearly all major Chinese power semiconductor manufacturers have announced price hikes. Yangjie Technology announced it will raise prices across its entire product line by 10% to 15% starting July 1, marking its second price increase this year; Chongqing CR Microelectronics, Shilan Microelectronics, and NCE Power have also followed suit with price adjustments. Serenity notes that the driving force behind this round of price hikes has shifted from the cost side to the demand side: AI data center construction, energy storage system expansion, and the popularization of new energy vehicles are collectively driving sustained strong demand for power semiconductors. Serenity believes this trend sends a positive signal to the U.S. power semiconductor sector: tight Chinese production capacity will reduce price pressure on similar U.S. products, coupled with sustained demand validation and improved pricing power, U.S. power semiconductor stocks such as Alpha & Omega Semiconductor (AOSL) and Power Integrations (POWI) are expected to benefit, with these advantages emerging ahead of the full adoption of 800V DC architectures. Additionally, upstream material suppliers for power semiconductors are also poised to benefit, with demand for related materials including non-ferrous metals like copper and tin, as well as molding compounds, chemicals, and packaging consumables, likely rising in tandem.