In its fiscal Q1 earnings call recently, Inventec projected expansion for all products, including demand-challenged smart devices and notebook computers. Counting partly on the calendar H2 resumption of expenditures from key cloud services providers. General-purpose servers are indeed seeing demand upticks in the form of upgraded CPUs from Intel and AMD. The original design manufacturer expects most server growth for AI servers, suggesting that its AI-server revenue 2024 will more than double. Inventec also indicates an upswing in AI-enabled PCs in the second half of 2024. This commentary from the leading ODM puts further upward pressure on already short GPUs and memory devices.