VGT (02476) saw a rise of over 7% in morning trading. At the time of writing, the stock was up 5.82% to HKD 36.0, with a turnover of HKD 416 million. The catalyst for the move was an announcement from the Shanghai Stock Exchange on May 15. It stated that VGT will be added to the list of eligible securities for the Southbound Stock Connect, effective from the next trading day of the scheme. This adjustment follows the completion of the company's market stabilization period in Hong Kong on May 16, 2026, and after its corresponding A-shares have been listed for ten trading days, in accordance with the relevant rules of the Shanghai-Hong Kong Stock Connect program.

Nomura's analysis highlights VGT's position as a leader in the global AI PCB market. The firm believes VGT stands to benefit from aggressive infrastructure investments and accelerated product upgrade cycles by global AI clients. Nomura identifies VGT as one of the most critical PCB suppliers for NVIDIA. It is projected that VGT will capture approximately 50% to 55% of NVIDIA's next-generation Rubin platform (2026-2028) business. The value of PCBs per NVIDIA GPU unit is expected to increase from around USD 400 for the Blackwell platform to over USD 1,000 for the Rubin Ultra platform. This shift is anticipated to drive a significant increase in VGT's revenue contribution from NVIDIA, rising from an estimated 9% in 2024 to 38% by 2028.