3 Malaysia AI Chip Stocks Backed By Data Centre Demand

Malaysia’s AI semiconductor and data centre story has moved from concept to headline, with Q2 GDP at 6% and chip focused manufacturing at 7.5%, and investors are paying attention. Rapid foreign investment, Johor’s rise as a data centre hub and Malaysia’s role in the global AI supply chain are reshaping expectations. This article explores how that news touches 3 stocks that could matter to your portfolio decisions.

The stocks covered below are just a starting sample. The full screen surfaced 32 more Malaysian companies tied to semiconductors and data centre themes with equally compelling narratives that are not included in this article. To identify and analyze your own highest conviction angles on this theme, head straight into the Malaysia AI Semiconductor & Data Centre Infrastructure screener.

Unisem (M) Berhad (KLSE:UNISEM)

Overview: Unisem (M) Berhad is a Malaysia headquartered provider of semiconductor assembly and test services, handling packaging, wafer bumping, and chip level testing for global electronics companies. It works with both fabless designers and integrated device manufacturers across Asia, Europe, and the United States as a pure back end outsourcing partner.

Operations: Unisem generates about MYR2.0 billion from manufacturing semiconductor devices and related services, selling mainly into Asia (MYR895.5 million), the United States (MYR820.8 million), and Europe (MYR291.8 million).

Market Cap: MYR7.2 billion

Unisem is positioned in Malaysia’s AI focused semiconductor industry, providing the assembly and test services that AI chips and data centre hardware need before they ship to end customers. Forecast earnings growth is described as strong and recent Q2 2026 sales of MYR570.1 million indicate that customers are still sending volume through its plants, even though H1 2026 came with a small loss and thin 3.4% margins. The key issues are valuation and funding. The stock trades on a very high P/E and relies heavily on external borrowings, while also raising fresh equity through sizeable private placements. If Unisem translates sector tailwinds and its new COO’s efficiency initiatives into better returns on equity, the current premium could be viewed differently.

Unisem’s premium P/E, fresh equity raises and reliance on borrowings suggest something is brewing beneath the surface. Before sentiment swings either way, get the full picture with the 1 key reward and 1 important warning sign

Build your own AI semiconductor shortlist

Unisem (M) Berhad and the other two Malaysian AI semiconductor stocks in this article all surfaced from a single screen, which is exactly where you can start shaping your own ideas. Use our flexible Screener to mix filters like valuation, growth, balance sheet strength, risks and dividends, or jump straight into our curated Investing Ideas for ready made themes.

Inari Amertron Berhad (KLSE:INARI)

Overview: Inari Amertron Berhad is a Malaysia based outsourced semiconductor and electronics manufacturer that assembles and tests radio frequency chips, fiber optic components, sensors, memory modules and custom IC packages for global customers across communications and data intensive applications.

Operations: Inari Amertron generates most of its revenue from Singapore at about MYR1.0 billion, with smaller contributions from China at MYR78.5 million and Malaysia at MYR65.7 million, plus MYR16.6 million from other markets.

Market Cap: MYR9.2 billion

Inari Amertron Berhad operates within Malaysia’s AI focused semiconductor ecosystem, with its radio frequency and optoelectronics packaging closely tied to the chips that power data centres and high bandwidth devices. Forecast earnings and revenue growth are described as strong, yet the stock trades on a P/E below the semiconductor industry and peer averages. This may appeal to investors who accept a premium but also seek some relative value. However, recent earnings and margins have softened and dividends are not well covered by earnings, so investors may be paying a higher multiple while profitability resets. In addition, the company relies on external borrowing, resulting in a profile where it is a quality operator in a favorable theme, but execution and capital discipline will be important in the next phase.

Inari Amertron’s earnings reset and below industry P/E hint at a story that is still forming. Get the full context in the 2 key rewards and 1 important warning sign and see what the current multiple might be missing.

ViTrox Corporation Berhad (KLSE:VITROX)

Overview: ViTrox Corporation Berhad designs and manufactures automated vision inspection equipment and embedded electronics that help semiconductor and electronics packaging companies check chips and circuit boards for defects at high speed and accuracy. It also sells related software, industrial embedded solutions and equipment for electronics assembly and agriculture, serving customers worldwide from its base in Penang.

Operations: ViTrox generates about MYR1.2 billion from the sale of vision inspection solutions and related technical support services.

Market Cap: MYR17.6 billion

ViTrox Corporation Berhad sits at a critical point in Malaysia’s AI semiconductor chain because its inspection systems are closely tied to rising chip volumes and complexity, especially in AI and data centre hardware. Recent Q2 2026 results show Q2 sales of MYR374.9 million and net income of MYR85.0 million, with net profit margins of 18.1%. The company combines this with long tenured leadership, solid board independence and relatively modest CEO pay, which may be relevant if you focus on governance. The trade off is a very high P/E, elevated reliance on external borrowings and a history of earnings volatility. That mix of quality, growth and balance sheet risk may make ViTrox a candidate for closer review by AI focused investors.

ViTrox’s high P/E and strong Q2 2026 profitability suggest investors see something bigger brewing in its inspection systems. Get the full story from the 2 key rewards and 1 important major warning sign and what that premium might really be pricing in.

Seeking Fresh Alternatives Before Others Do

Fresh ideas do not stay quiet for long. Stocks can move from quiet accumulation to full breakout while you watch from the sidelines. Before the crowd catches them, consider acting earlier in your research process.

• Spot companies building early momentum in cash rich niches and scan the 260 high quality undervalued stocks that balance quality, resilience and pricing that still looks reasonable.
• Explore potential compounding from strong finances and steady operations by reviewing the list of solid balance sheet and fundamentals (434 results) that highlight robust balance sheets and consistent fundamentals.
• Position ahead of possible infrastructure shifts by checking the 38 power grid technology and infrastructure stocks featuring businesses tied to grid upgrades, transmission tech and long run electrification themes.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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