VGT's stock price surged 5.02% during intraday trading on Tuesday, marking a significant upward movement for the Hong Kong-listed printed circuit board manufacturer.

The rally appears driven by industry-wide supply chain pressures and company-specific growth catalysts. A global disruption in the supply of PPE resin—a key material for manufacturing high-end printed circuit boards—has been triggered by shipping issues in the Strait of Hormuz, forcing a major Saudi industrial zone offline since late March. This has led to substantial price increases across the PCB industry, with Goldman Sachs reporting PCB prices rose up to 40% in April alone compared to March.

Specific to VGT, a Nomura report identifies the company as one of NVIDIA's most critical PCB suppliers, projecting it will capture approximately 50%-55% of the supply for NVIDIA's next-generation Rubin platform (2026-2028). The analysis forecasts the PCB value per NVIDIA GPU unit will rise from $400 for the current Blackwell architecture to over $1,000 for Rubin Ultra, potentially boosting VGT's revenue contribution from NVIDIA from 9% in 2024 to 38% by 2028.