In 2026, price increase signals in the semiconductor market are extending from advanced computing and memory to 8-inch foundry, some 12-inch mature nodes, and power devices. Manufacturing platforms that previously endured price competition are regaining pricing power.
Behind this trend are the growth in AI power supply demand, adjustments in legacy production lines, changes in product mix, and material cost pressures. However, the boom levels vary across different sizes, processes, and devices: localized tightness has been verified, but a comprehensive shortage cannot be generalized. Observing this round of changes requires looking at quotes, actual transaction prices, lead times, and available capacity simultaneously.
I. From Price-Cut Competition to Consecutive Price Hikes: What Happened in 2026?
1. January to March: 8-Inch Wafers Bottom Out and Reverse First
Signals for this round emerged by the end of 2025. According to a report by the SSE STAR Market Daily on December 24, 2025, downstream customers received price increase notices from SMIC (Semiconductor Manufacturing International Corporation), mainly concerning the 8-inch BCD platform, with an increase of about 10%. Entering 2026, a January survey by TrendForce showed that some wafer fabs planned to raise prices by 5% to 20%; this is the planned margin, which does not equal the actual transaction price increase for all customers.
Adjustments have also begun on the device side. A summary of February reports from IC Trading Network shows that manufacturers such as Huarun Micro, Jiejie Microelectronics, Silan Micro, Xinjieneng, and Hongwei Technology have successively released price adjustment plans, involving MOSFETs, IGBTs, and related products. The price recovery of domestic power products is beginning to converge with changes in upstream manufacturing costs.
2. April to July: Price Hikes Spread from China to the Global Market
According to Securities Times, Infineon notified customers in February that new prices for some power switches and related chips would take effect on April 1. Jiemian News reported that after STMicroelectronics announced price adjustments in March, it also arranged for some products to increase in price starting June 28. The product ranges covered by different manufacturers cannot be directly equated.
Figure 1: TrendForce's Forecast on Foundry Price Trends
A late June survey by TrendForce pointed out that 8-inch foundry saw an average price increase of about 5% to 15% in the first and second quarters, and some supply-tight 12-inch mature nodes also showed signs of a 5% to 10% price hike in the second and third quarters. Price pressures have crossed wafer sizes but remain concentrated on specific process platforms.
3. After August: Second and Third Rounds of Price Hikes Emerge
Jiemian News reported in August that STMicroelectronics notified customers of another price adjustment across multiple product lines starting August 23, calling it the third price adjustment of the year. Securities Times reported in September that onsemi's new price arrangement would take effect on October 10, and Renesas announced in September that its new prices are scheduled to take effect in January 2027. As of September 28, the latter two remain future implementation plans. Repeated notifications indicate that bargaining is still ongoing, and the ultimate improvement in revenue and profit still depends on order fulfillment.
II. Why Exactly Mature Nodes?
1. Advanced Node Expansion and Adjustment of Some Mature Capacity
TrendForce projected in January that TSMC (Taiwan Semiconductor Manufacturing Company) and Samsung are reducing 8-inch capacity, and the moderate additions by SMIC and Shijie Xianjin cannot fully offset this, so global 8-inch capacity may drop by 2.4% year-on-year in 2026. This judgment targets 8-inch wafers and cannot be extended to mean that all mature nodes are reducing production.
12-inch mature nodes are still expanding capacity, but new and existing resources are flowing towards higher-return products. Thus, overall capacity growth and tight supply for certain types of customers can occur simultaneously. What is useful for purchasers is capacity that is qualified, process-matched, and can be delivered on time, not just the total number of wafer starts in the industry.
2. Mature Nodes Have Not Lost Value Just Because They Are "Old"
Power and analog chips focus on voltage resistance, on-resistance, reliability, and cost, rather than blindly pursuing the minimum line width. STMicroelectronics' BCD technology integrates analog, digital control, and power devices on the same chip, serving as a typical carrier for such demands.
Here, three concepts need to be distinguished: 8-inch and 12-inch refer to wafer sizes; 55nm and 90nm are nodes; BCD and HV are process platforms. MOSFETs and IGBTs also have dedicated power processes and cannot all be evaluated by logic line width. Platform migration requires redesign, verification, and mass production ramp-up, and an idle alternative production line often cannot provide an immediate substitute.
III. AI Does Not Only Need GPUs; It Is Also "Consuming" Mature Nodes
1. AI Servers Bring Demand for the Entire Power Supply Chain
As computing density rises, electrical energy must go through power distribution, rectification, isolated conversion, and board-level step-down before being supplied to processors. From PMICs (Power Management ICs) and gate drivers to MOSFETs, DrMOS, and smart power stages (SPS), multiple links in power conversion require semiconductors. Infineon's publicly available data center solutions use silicon, SiC, and GaN simultaneously, indicating that incremental demand spans multiple materials and processes.
This does not mean that for every additional GPU, the same type of power chip is increased in a fixed proportion. The number of devices, voltage resistance, and value depend on the rack architecture, power level, and integration degree. A more reliable judgment is: the expansion of computing power raises the scale and performance requirements of power supply systems, bringing more demand for high-performance power devices.
2. AI Competes with Traditional Applications for Matching Manufacturing Resources
Automotive, industrial, home appliance, and display products have long used mature platforms. After AI power supply orders increase, if they share equipment and process resources with these products, it may change production scheduling priorities. TrendForce has observed that some foundries are shifting resources to PMICs, power discrete devices, and other high-value-added products.
Therefore, the impact of AI is both new orders and a reallocation of product structure. Infineon's August earnings announcement stated that AI data center power solutions remain the main growth driver and disclosed that multi-year capacity reservation agreements have been signed or are under negotiation. This shows that competition is extending to long-term supply security, but it cannot be inferred from this that all mature nodes benefit directly.
IV. Why Have Power Semiconductors Become One of the Most Obvious Sectors for Price Hikes?
1. Price Recovery Requires Support from Orders and Utilization Rates
Previous inventory digestion and fierce competition have compressed the profit margins of some products. When orders improve and production line loads rise, manufacturers are in a better position to reduce low-price orders and push for price negotiations. However, announcing a price hike is just the starting point; customer discounts, product mix, and delivery pace will all affect the final average selling price.
2. Cost Pressures Transmit Along the Industry Chain
Power chip companies that purchase wafers externally face foundry quote changes directly; IDM companies with their own manufacturing lines bear more of the costs for materials, energy, equipment, and depreciation, and their outsourced parts are also affected by foundry prices. The cost transmission mechanisms of the two types of companies are different, and foundry price hikes cannot be directly equated with a proportional increase in costs for all IDMs.
Reports on price adjustments by Infineon, STMicroelectronics, and onsemi all mention supply-demand or cost factors. Whether price hikes can be translated into profits depends on whether the revenue increase can cover the new costs, and whether the capacity utilization rate and yield improve simultaneously.
3. Power Semiconductor Prices Remain Differentiated
There are specific price adjustment cases for silicon MOSFETs, IGBTs, and power ICs, but this does not mean that all part numbers are rising universally. SiC and GaN are also affected by their own capacity expansion, substrate and epitaxy costs, product introduction, and technology substitution. The growth of AI applications can coexist with price competition for some general-purpose products, and should be observed separately by material, voltage resistance, application, and customer.
V. How Is This Round of Price Hikes Different from the 2021 "Chip Shortage"?
The supply tightness in 2021 was closely related to the production and logistics disruptions caused by the pandemic, changes in end-market demand, and stockpiling behavior. The price hikes observed in 2026 are more of an overlay of AI power supply increments, mature capacity reallocation, and cost pressures. Both cycles have supply-demand mismatches; the difference lies in the sources and coverage of the mismatches, and they cannot be simply attributed to one "abnormal" and one "permanent" event.
Subsequent judgments should track comparable transaction prices, lead times, utilization rates, and the release of new capacity. If price hikes remain only at the notification stage, or if customers cut orders after stockpiling in advance, the sustainability will be weaker than expected.
Conclusion: Mature Nodes Are Turning from "Legacy Capacity" into "Scarce Capacity"
The scarcity of mature nodes is emerging on specific platforms. In the AI era, advanced processes enhance computing power, while mature specialty processes support power conversion and control. What is truly worth paying attention to is which manufacturers hold verified supply, which products have continuous orders, and whether price recovery can be translated into stable profitability. Structural tightness may continue, but it still needs to be verified by delivery and demand.