Thailand¡¯s stock market is having the best year among Southeast Asian peers, as investors discover an unlikely source of exposure to the global artificial-intelligence boom.
Much of that gain has come from Delta Electronics (Thailand). The maker of power systems for AI data centers has surged more than 80% this year and became Thailand¡¯s first $100 billion company, large enough to be worth more than the next four largest Thai stocks combined.
It¡¯s also Southeast Asia¡¯s second-most valuable company in the MSCI Asean Index, behind DBS Group Holdings.
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