KUALA LUMPUR, Jan 15 — YTL Power International Bhd is expected to be able to attain national validated end-user (NVEU) status under the new United States (US) global artificial intelligence (AI) chip control policy, according to CIMB Securities Sdn Bhd.
In a note, CIMB Securities said this is due to the off-takers for YTL Power’s AI data centres (DCs) being US hyper-scalers, including Nvidia, which are not subject to the limits.
“YTL Power is the only non-US company selected by Nvidia in Asia to deploy its latest chips on the DGX Cloud AI platform,” it said.
CIMB Securities noted that based on the latest Framework for AI Diffusion, the US has set the cumulative installed base allocation of total processing performance (TPP) per NVEU per country at 1.58 billion for the fourth quarter of 2025 (4Q 2025), 4.27 billion for 4Q 2026, and 5.06 billion for 1Q–4Q 2027.
“We estimate this is equivalent to about 43,000, 118,000, and 140,000 B200 graphic processing units (GPUs), respectively.
“Currently, for YTL Power, we have factored in cumulative deliveries of 12,000 B200 GPUs in mid-2025, 36,000 at end-2025, and 60,000 at end-2026,” it added.
Meanwhile, CIMB Securities has maintained its ‘buy’ call for YTL Power with a four per cent higher target price of RM5.20 per share, following higher earnings from its UK-based unit, Wessex Water, following the Water Services Regulation Authority’s (Ofwat) final determination on the 2024 price review (PR24).
At 11.28 am, YTL Power’s share price fell four sen to RM3.77 per share with a total of 13.83 million shares traded. — Bernama
