In 2024, Taiwan's Weighted Stock Index rose by 28.47%, leading global major stock markets. However, after the Lunar New Year, entering the Year of the Snake, uncertainty in Trump's tariff policy caused fluctuating trends, leading to cautious investor sentiment. Fidelity International fund manager Bai Fangping stated that in 2025, it is expected that Taiwan's stock market will maintain a volatile bullish trend. With the continuous release of new products and applications, the demand for AI is expected to become the main driving force behind Taiwan's stock market performance. It is recommended that investors seize the investment opportunities of "snake-like upward trends" and continue to seek upward momentum during fluctuations. Bai Fangping pointed out that the development of AI technology is expected to continue to be a key driving force for Taiwan's stock market, promoting upgrades in industries such as semiconductors, AI computers, and robotics, especially the improvement of advanced packaging technology and high-speed transmission demand, which in turn drives investment opportunities in related supply chains. Firstly, as AI technology evolves, advanced packaging becomes a trend for high-precision chips. In order to meet the computational power and high-speed transmission demands required by AI, the technology of Co-Packaged Optics (CPO) is gradually fermenting. The business opportunities from the evolution of AI will make high-speed transmission technologies an important direction for the development of the semiconductor industry. Secondly, cloud service providers are still actively expanding self-developed chips to better meet their business needs and reduce dependence on general-purpose GPUs. According to Broadcom's forecast, the overall potential market for AI ASIC services will grow from $12.2 billion in 2024 to $60 billion to $90 billion in 2027, and the huge future business opportunities are expected to continue to drive trends in Taiwan's related supply chains. Thirdly, the development of edge AI applications, including AI smartphones, AI laptops, autonomous driving, smart manufacturing, is expected to be a key catalyst for commercializing AI. For example, technology giants like Tesla and NVIDIA have mentioned the application of robotics, expressing optimism that robotics technology can drive the enormous business opportunities brought by the full digitalization and automation. According to the research report from TrendForce, it is estimated that the compound annual growth rate of the robotics industry from 2024 to 2027 will reach 154%. In addition, with the continuous release of new products and applications, the variety of AI computers will be further segmented, attracting consumers to upgrade, coupled with the wave of device upgrades after the COVID-19 pandemic and the end of support for Windows 10, it is expected that the penetration rate and shipment volume of AI computers will continue to increase, with expected operating momentum for related manufacturers. Fourthly, the main trend in semiconductors is towards advanced processes and advanced packaging. In addition to the high demand for 3-nanometer technology and the upcoming mass production of 2-nanometer technology in the second half of this year, the new N2P 2-nanometer technology and A16 technology are also expected to begin production in the second half of 2026. TSMC continues to lead the trend in semiconductor development, providing significant investment opportunities for various components or equipment. Chinese mainland startup DeepSeek has developed low-cost, high-performance AI models, prompting the market to reevaluate the capital expenditure structure for AI, leading to continuing short-term market fluctuations. However, with the trend towards low-cost AI, it will drive more regions, small and medium-sized enterprises, and individual users to participate, accelerating the penetration of AI and driving the overall demand and market size for related products. In particular, edge AI solution providers are expected to significantly benefit, especially as enterprises are more inclined to use local AI models due to information security concerns, driving a wave of overall edge AI hardware upgrades. In addition, AI software developers will also benefit from the democratization of AI. As AI gradually becomes mainstream, various users joining the deployment of AI will increase and diversify the market demand for AI applications. Overall, in 2025, AI development will continue to lead other applications, with Fidelity continuing to see the support of overall specification upgrades. Taiwan's stock market, especially the hardware-centric supply chain, has continuous growth in operational development opportunities. It is recommended to pay attention to investment opportunities in supply chains such as AI computers, industrial computers, and robotics, and also to be mindful of investment opportunities brought by secondary industries with strong demand, including upstream materials, wafer manufacturers, and packaging companies, downstream hardware components, contract manufacturers, and brand factories.