Shares of SICC (ASX: 02631) surged more than 11% during the trading session. At the time of writing, the stock was up 10.28%, trading at HK$103 with a turnover of HK$732 million.

Catalyst for the surge

The explosive growth in AI computing power is creating significant new demand for silicon carbide (SiC). The transition of AI data centers to 800V HVDC power supply architectures positions SiC as a critical technology for overcoming efficiency bottlenecks. One research forecast suggests the SiC market will expand from $3.5 billion in 2024 to $12.4 billion by 2030, with AI infrastructure expected to account for nearly half of this demand. Another analysis projects that by 2030, the demand for SiC substrates for power supplies could approach 70 billion yuan, representing nearly an eightfold increase. The substantial expansion of 8-inch fabrication lines is anticipated to significantly boost demand for substrates and related equipment.

Market position and partnerships

In 2025, SICC achieved a global market share of 27.6% for conductive SiC substrates, surpassing Wolfspeed to become the industry leader. Notably, the company holds a dominant 51.3% market share in the 8-inch SiC substrate segment, while other manufacturers each hold less than 15%. The company has established collaborations with more than half of the world's top ten power semiconductor device manufacturers and has entered the supply chains of leading international semiconductor firms.