Asian Semis August WSTS: Logic growth accelerates on AI compute momentum; memory maintains elevated pricing

Overall semi revenues rose 156% YoY in August (vs 131% YoY in July), with logic semis increasing 45% YoY (vs 37% YoY in July) and memory increasing 412% YoY (vs 435% YoY in July). Key drivers include: 1) robust logic momentum supported by surging AI accelerator and CPU demand, with continued capacity expansion, broader price hikes in 2027, and TSMC indicating AI demand visibility now extending into 2029-30; 2) memory's sustained strength underpinned by structurally tight HBM supply-demand through 2028E;