The production of AI servers has been repeatedly stalled by a shortage of tantalum capacitors—a critical component required before servers can be rolled out from factories. The usage of these capacitors has surged, with each AI server now requiring 2,000 to 3,000 units, a dramatic increase from the dozens used in traditional servers. Currently, the global supply of tantalum capacitors is under dual pressure from overseas sources. Over 80% of the world's tantalum ore reserves are located in Africa, characterized by limited supply flexibility. Moreover, a collapse in a key mining region in the Democratic Republic of the Congo in early 2026 led to a 15% global deficit in tantalum raw materials. Simultaneously, over 70% of high-end tantalum capacitor manufacturing capacity is dominated by overseas giants, who are not prioritizing the expansion of AI-grade products. These overseas cloud vendors have already secured a substantial portion of the high-end production capacity. Additionally, factors such as fragmented demand, information asymmetries, and lengthy verification processes have further inflated the prices of tantalum-related products. Domestically produced tantalum capacitors are making progress towards substitution and are currently undergoing small-scale delivery trials. A significant uptick is anticipated in 2027, with large-scale production potentially commencing from late 2027 to 2028. However, these local alternatives still grapple with challenges, including inconsistent batch quality and dependence on imported high-end tantalum powder. While policies are offering support in terms of research and verification, the substitution process remains a gradual one.