AI Infrastructure Power Semiconductor QHD-CXLGAN-20260316-IND
OW
Overweight
+36.6
Net Signal Score

CXL × GaN — Two Pillars of AI Infrastructure, Memory Fabric and Power Revolution

Industry Analysis | CXL (Compute Express Link) + GaN (Gallium Nitride) | 2026.03.16
CXL TAM 2030
$12.3B
CAGR 32%
GaN TAM 2030
$3.0B
CAGR 42%
AI CapEx 2026
$690B
+36% YoY
Gallium Price
$2,100
/kg · +123%
Section 01
Executive Summary

As the AI infrastructure investment cycle accelerates in 2026, two key bottlenecks in data center architecture — memory bandwidth and power efficiency — are simultaneously highlighted. FACT Hyperscalers' AI CapEx will increase by 36% year-on-year to $690B in 2026, with a significant portion of this investment flowing into CXL-based memory fabrics and GaN-based power conversion infrastructure.

CXL (Compute Express Link) is a next-generation interconnect standard that resolves CPU-memory bottlenecks, and the market, which was $1.3~1.9B in 2024, is expected to grow to $12.3B (CAGR 32%) by 2030. NARRATIVE Starting with Microsoft Azure's commercial CXL deployment, more than 90% of new servers will be shipped CXL-compatible in 2026, entering an ecosystem tipping point. The CXL 4.0 specification was announced in November 2025, providing 128 GT/s bandwidth, further strengthening its competitiveness as an alternative to HBM.

GaN (Gallium Nitride) is a