'Phl on fringes of Asia's AI boom'

The Philippines is likely to capture fewer direct gains from the region's artificial intelligence build-out as Asia's Al-driven investment and export surge continues to favor economies that are more deeply embedded in the global technology supply chain, according to Nomura Global Markets Research.

- Keisha Ta-asan

In its latest report, Nomura said the benefits of the US-led AI capex boom are spreading across Asia but are unevenly distributed, with the biggest winners concentrated in economies that dominate high value-added manufacturing, memory chips, advanced packaging and data center infrastructure.

“Strong AI demand, a memory supercycle and spillovers from a weak China are driving a North-South divide. Don’t paint all of Asia with the same brush,” Nomura said, underscoring that not all economies are positioned to benefit equally from the Al wave.

The bank said Asia is benefiting “significantly from rising US AI capex,” with the impact occurring primarily through increased exports, with some investment benefits also evident.