According to SemiAnalysis Chipbook data, a large portion of high‑bandwidth memory (HBM) exports from South Korea now head to Malaysia, cutting shipments to Taiwan. This shift signals that HBM used by TSMC’s CoWoS family—CoWoS‑S, CoWoS‑L and CoWoS‑R—is increasingly routed to a Malaysian facility.

With TSMC lacking advanced‑packaging sites there, the logical choice is Intel, known for EMIB and Foveros. Intel recently finished its Project Pelican facility, a $7 billion build‑out that supports die‑sort and die‑prep for both packaging flows, speeding delivery for customers.

The influx is reflected in the data: roughly $1.3 billion of HBM is now headed to Malaysia, while shipments to Taiwan have fallen below $3 billion—a steep drop from the $5 billion that flowed there a few months ago. This realignment underscores Malaysia’s emerging status as a hub for high‑performance semiconductor packaging.

Intel has also begun EMIB assembly at Amkor’s Incheon plant to meet વિક orders, and the Pelican site has reportedly doubled the capacity of its New Mexico campus. Yet details on package counts and yield remain scarce.