JPMorgan Raises Server Shipment Forecasts to 22% for 2026, 25% for 2027 on AI Inference Demand

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According to JPMorgan Chase on July 15, the bank significantly raised server shipment growth forecasts to 22% for 2026 (from 15%) and 25% for 2027 (from 8%), driven by AI inference deployments. The bank estimates server CPU shipments will grow to 68 million units by 2028, with 53 million units tied to Agentic AI demand. Meanwhile, PC shipments face headwinds from rising memory costs, with 2026 PC shipments forecast down 8% and consumer PC down 14%.
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