GF Securities Overseas Electronics Communication reports on NVIDIA's H200 and Vera Rubin products. They observe strong demand for H200, leading to an upward revision of TSMC's CoWoS-S capacity plans by 30,000 wafers, primarily in Q2 2026, implying roughly 800,000 H200 units. Combined with existing inventory, the estimated H200 shipment plan is around 1.5 million units. They forecast H200 volumes of 250k, 450k, and 1.1 million units for the April quarter, July quarter, and FY2027, respectively. The report also reiterates that Vera Rubin 200 (VR200) production will start in June, with a full ramp in Q3 2026.