Besi posts strong bookings as AI drives demand for hybrid bonding tech
Investors are banking on growing orders for Besi's hybrid bonding solutions, a critical chip technology allowing two chips to be bonded directly on top of each other, and its first-mover advantage amid a surge in demand for AI-enabling technology.
"We received hybrid bonding orders from two leading memory (chip) producers for HBM 4 applications as well as follow-on orders from a leading Asian foundry for logic applications," CEO Richard Blickman said in a statement.
The Dutch group's quarterly order bookings, an important indicator of future growth, grew 8.2 per cent to 131.9 million euros ($150.1 million) compared to the fourth quarter of 2024.
Besi's shares, which had fallen 30 per cent this year as of the last close, were up 9 per cent by 0730 GMT.
Analysts from KBC Securities said in a note that Besi's new orders were "very positive", underscoring its long term potential even if there will be some volatility in the short run.
Besi's revenue fell 6.1 per cent quarter-on-quarter to 144.1 million euros, weighed down by muted shipments for mobile and automotive applications. It expects the metric to remain at a similar level in the second quarter, with a possible deviation of 5 per cent into either direction.
The timing and trajectory of the expected demand upturn is more difficult to predict now given the uncertainties around the escalating trade war, Blickman said.
Besi had said in February it expected mainstream assembly markets to start to recover only in the second half of the year, depending on end market trends and the course of the global trade restrictions.
"However, demand for advanced packaging for AI applications remains strong given upcoming new device introductions and use cases planned in the 2026-2028 period," Blickman added.
Degroof Petercam analysts said the upturn, which they expect to materialise in late 2025 or early 2026, should be stronger for Besi given its lead in hybrid bonding technology.
($1 = 0.8787 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
2 hours ago
- CNA
GE Vernova to buy France's Alteia for enhancing AI tools for utilities
Power equipment maker GE Vernova will buy France-based Alteia, which makes artificial intelligence-based tools that allow utility companies to review their grids, it said on Monday. GE Vernova already offers Alteia's software to customers through its GridOS Visual Intelligence. The tool helps utilities assess damage and inspect assets along thousands of miles of electrical lines. The acquisition will enhance this system through visual and operational data, allowing the companies to "see and sense" the grid, GE Vernova said. The company did not disclose the financial terms of the acquisition, which is expected to close on August 1. GE Vernova has highlighted that growth in its electrification software segment — which includes the GridOS system — could rapidly accelerate, RBC Capital Markets analyst Christopher Dendrinos said. The segment has been growing at mid-single digit percentage rates in the past couple of years, he said. Surging power demand from data centers used for AI and cryptocurrency technologies has boosted GE Vernova, which was spun off from General Electric last year. The power demand is expected to hit an all-time high this year. The company is expected to release its second-quarter earnings report on July 23 before the bell.
CNA
2 hours ago
- CNA
Number of preschoolers in Singapore learning with AI programmes jumps 75%
The number of preschoolers taking up AI programmes has jumped by as much as 75 per cent over the past year. This comes as some preschools are adopting twice as many early education apps in classes to help children learn languages easily and spark creativity. Yet, experts warn that exposing kids to AI so early has its issues - in particular, excessive screen time. Muhammad Bahajjaj with more.
Business Times
3 hours ago
- Business Times
Trump Media buys US$2 billion in Bitcoin for crypto treasury plan
[NEW YORK] Trump Media & Technology Group, the firm behind Truth Social, has acquired about US$2 billion in Bitcoin and related securities as part of its previously announced plan to become a crypto treasury company. In addition, about US$300 million in capital was allocated to an options acquisition strategy for Bitcoin-related securities, the company said in a statement on Monday (Jul 21). Trump Media plans to continue acquiring Bitcoin and Bitcoin-related assets and to convert its options into Bitcoin, depending on market conditions. In May, Trump Media joined the scores of companies emulating the crypto treasury strategy pioneered by Michael Saylor's Strategy. It's not the only company linked to the US President Donald Trump's family that has jumped to the Bitcoin treasury play. PSQ Holdings, a firm that counts Donald Trump Jr as a board member, also announced plans to explore a digital asset treasury strategy. 'These assets help ensure our company's financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we're planning to introduce across the Truth Social ecosphere,' said Devin Nunes, chief executive officer and president of Trump Media, in the press release. The Sarasota, Florida-based company said it will also use its Bitcoin and Bitcoin-related securities to generate revenue and potentially 'acquire additional crypto assets.' Shares of Trump Media jumped more then 7 per cent in pre-market trading following the announcement. The stock has slumped around 45 per cent so far this year. BLOOMBERG
