AI server demand is rapidly absorbing high‑end MLCC capacity and manufacturers are considering price increase of the high end MLCC capacitors needed for these applications.
AI server demand: from forecast to capacity stress
The MLCC industry has been discussing the impact of AI servers on capacitor demand for several years, but 2025–2026 is when this demand is visibly stressing available high‑end capacity. Murata has highlighted that AI‑server‑related MLCC demand is on track for a strong double‑digit CAGR toward 2030, driven by the much higher MLCC counts per accelerator board and per rack compared with conventional servers.
An AI accelerator board can easily integrate tens of thousands of MLCCs across point‑of‑load converters, decoupling networks and auxiliary circuits, and a fully populated AI rack multiplies this into the hundreds of thousands of units. This is not just a volume story: data‑center power‑delivery networks favor high‑CV, low‑ESR MLCCs with tight tolerances, which are precisely the segments where effective capacity is hardest to expand quickly.
In recent comments, Murata president Norio Nakajima confirmed that the company has started internal discussions about raising prices for its more advanced MLCCs used in AI servers. Demand from AI data centers is so strong that it is increasingly difficult to match it with existing capacity while also supporting other strategic markets.
At the same time, Murata emphasizes that it is still in the process of gauging the “true demand” profile for AI infrastructure. The company wants better visibility into whether current order momentum is sustainable, or whether there is a risk of a short‑term spike followed by digestion. As of mid‑February 2026, this means that a decision on specific price actions is pending, and there is no formal corporate notice detailing MLCC price revisions.
Spot MLCC prices already moving
Even without an official Murata list‑price change, the broader MLCC market is already showing the typical symptoms of a tightening cycle. Industry reports from Korea and other regions indicate that spot prices for certain MLCC categories have risen by up to roughly 20% in early 2026, led by high‑grade parts for AI, industrial and automotive applications.
Production line utilization for high‑end MLCCs at leading suppliers is reported to be running at very high levels, effectively close to full for some high‑CV and high‑reliability product segments. At the same time, major manufacturers have remained cautious about adding large new bricks‑and‑mortar capacity after the last boom–bust cycle. The result is a more measured capacity response, where incremental debottlenecking is favored over aggressive greenfield expansions, and where pricing has more room to firm when demand concentrates in specific, higher‑value niches.
What this means for MLCC users in AI and beyond
For OEMs, Tier‑1s and EMS providers, the combination of doubled inquiries, high utilization and rising spot prices suggests that contractual MLCC pricing for high‑end AI‑server parts is likely to come under upward pressure over the next few quarters. Designs that depend on advanced high‑CV MLCCs for GPU/accelerator power rails, VRMs and board‑level decoupling will be particularly exposed.
From a design‑in and supply‑chain perspective, several measures become advisable:
- Review second‑source options and footprint flexibility for critical MLCC positions in AI and server platforms.
- Engage early with distributors and manufacturers to secure allocations and forecast commitments for data‑center‑grade MLCCs.
- Consider the total cost of ownership of power‑delivery architectures, as incremental improvements in layout or derating can sometimes reduce the absolute MLCC count in hot spots.
For other sectors—automotive, industrial, and consumer—the immediate impact will depend on product mix. Commodity, low‑capacitance MLCCs may remain relatively stable, while high‑CV and special‑construction parts (high temperature, high voltage, high reliability) can see knock‑on effects as capacity is prioritized toward AI‑server demand. The MLCC market is effectively splitting between high‑end segments with structural tightness and more commoditized ranges where pricing remains more competitive.
For the passive components community, AI servers are becoming a key structural driver that interacts with existing trends in automotive electrification and industrial digitalization. Even if Murata ultimately adopts a gradual approach to list‑price adjustments, the signal to the market is clear: high‑end MLCCs for AI infrastructure should be treated as strategic components, with corresponding attention to design, qualification and supply‑chain planning.
References
- Digitimes – “AI server MLCC orders double capacity; Murata considers price increase,” February 18, 2026.
- Bloomberg – “Murata Explores Raising Prices of Key AI Server Component,” February 17, 2026.
- Meyka – “Murata Manufacturing Stock Today, February 18: MLCC Price Hike Talks on AI Boom,” February 17, 2026.
- Investing.com – “Murata raises MLCC growth forecast for AI servers to 30% CAGR,” December 2, 2025.
- Biz Chosun – “AI server boom drives MLCC prices higher as Murata, Samsung split …,” February 7, 2026.
- Market and distributor commentary on MLCC spot price increases and supply tightness, early 2026