17 August 2026 | 8:30AM HKT Equity Research Gigabyte (2376.TW): AI server in expansion; Strong capex commitment to capture the demand; July and 2Q26 beat; Neutral Gigabyte's Jul revenue was up 60% YoY / 3% MoM, or 18% higher than our estimate, which we attribute to the strong shipments performance of both baseboard and rack-level AI servers. We model sequential revenue growth in Aug-Sep, supported by the rising AI server shipments, and we expect revenues to stay high in 3Q / 4Q26E post strong growth in 1H26 ...