According to Morgan Stanley, the launch of Intel's latest artificial intelligence chip is expected to benefit three global semiconductor companies. Intel unveiled its third-generation AI accelerator, Gaudi 3, earlier this month. The semiconductor giant says this latest chip is twice as power efficient and can run AI models one and a half times faster than Nvidia's H100 GPU – the company's flagship product, which is currently leading the AI chip market. in. Intel says high demand for AI chips means major OEMs such as Dell, Hewlett Packard Enterprise, Lenovo and Supermicro have announced adoption of Gaudi 3. Past supply constraints have meant Intel has struggled to turn its order backlog into confirmed sales, but Morgan Stanley believes these issues will be resolved from the second half of 2024 onwards. In a research note on Monday, the Wall Street bank said Taiwanese companies TSMC, Alchip and Wistron would likely be the biggest beneficiaries of demand for Intel's Gaudi chips. Shares of all three companies are also traded in the United States. Fabrication of the Gaudi 3 chip will be handled by TSMC using its latest generation 5 nanometer process, while Alchip is expected to be the main beneficiary in the semiconductor supply chain by providing design services for both Gaudi 2 and Gaudi 3. Wistron plans to become the main baseboard supplier. “According to our supply chain audit, total Gaudi shipment volume (including 2 and 3) could go up to 300-400k units by 2025 (implying 2-3 billion USD revenue for Intel) if TSMC can provide enough CoWoS capacity,” said Morgan Stanley analysts led by Charlie Chan in a note to clients on April 22. The investment bank's forecast is based on a survey on the semiconductor supply chain and suggests that other major cloud companies such as Amazon, Microsoft and Google are also interested in adopting Gaudi chips. In its note, Morgan Stanley reiterated its appreciation for Alchip and TSMC, viewing them as long-term winners of AI semiconductor demand. Analysts were also bullish on Wistron, noting that Nvidia's new Blackwell GB200 AI chip should also boost immediate growth for the Taiwanese electronics maker. – CNBC's Michael Bloom contributed reporting.