更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha CPO on the Rise: ASE's Role in the Next Heterogeneous Revolution Original Articles By SemiVision Research (IEEE ECTC , ASE ) JUN 18, 2025 ∙ PAID SEMI VISION As AI computing scales beyond imagination, traditional electrical interconnects are approaching their physical limits. In this data-driven technological revolution, photonic packaging is no longer a vision of the future—it is the solution of today. 更多一手调研纪要和海外投行研报数据加V：shuinu9870 更多一手调研纪要和海外投行研报数据加V：shuinu9870 更多一手调研纪要和海外投 ...

11 June 2025 | 9:06AM HKT Allen Chang +852-2978-2930 | allen.k.chang@gs.com Goldman Sachs (Asia) L.L.C. Verena Jeng +852-2978-1681 | verena.jeng@gs.com Goldman Sachs (Asia) L.L.C. Xuan Zhang +852-2978-1478 | xuan.zhang@gs.com Goldman Sachs (Asia) L.L.C. Taiwan Technology: May review: ASIC AI servers & Components in strong growth; model transition in 3Q25 ASIC / baseboard-based AI servers, and components stay strong: (1) ASIC AI servers in strong growth: Wiwynn delivered +187% YoY of revenues growth in May, ...

GLOBALFOUNDRIES (GFS) 2025 Conference June 03, 2025 02:20 PM ET Speaker0 Good morning, everyone. Welcome to this session. I'm Vivek Arya from BofA's semiconductor and semi cap equipment team. I'm really happy that you could join us for the session and really excited to introduce the team from GlobalFoundries, Tim Green, CEO and Sam Franklin, the Senior Vice President of Finance, Operations and Investor Relations. And as usual, I'll go through a quick fireside format, my questions. But if you have anything y ...

Core Insights - Soitec reported a high-single digit decline in full-year revenue for fiscal year 2025, closing at €891 million, down 9% from €978 million in fiscal year 2024, in line with revised guidance [3][21][22] - The company maintained a robust EBITDA margin of 33.5% and generated positive free cash flow of €26 million, despite the revenue decline [3][7][24] - Soitec is focusing on diversifying its product offerings beyond RF-SOI and Mobile Communications, with new products like POI and Photonics-SOI gaining traction [4][6] Financial Performance - Q4'25 revenue reached €327 million, stable at constant exchange rates compared to Q4'24, reflecting a 3% decline on a reported basis [7][8] - Full-year revenue for FY'25 was €891 million, down 9% both on a reported basis and at constant exchange rates [21][22] - The company recorded a current operating income of €136 million, down 35% from €208 million in FY'24, with a current EBIT margin of 15.2% [24][26] Product Segments - Mobile Communications revenue was €546 million in FY'25, down 11% year-on-year, primarily due to weaker RF-SOI volumes [21][22] - Automotive & Industrial revenue decreased by 21% to €129 million, driven by lower Power-SOI volumes amid ongoing automotive market challenges [21][22] - Edge & Cloud AI revenue increased by 6% to €216 million, supported by higher sales of Photonics-SOI wafers [23] Market Outlook - The company has suspended all previously issued guidance due to limited visibility and market uncertainties, opting to provide revenue guidance on a quarterly basis [5][35] - Q1'26 revenue is expected to decline by around 20% year-on-year, impacted by the phase-out of Imager-SOI [5][36] - Soitec anticipates its addressable market to grow from approximately 5 million wafers in 2024 to around 12 million by 2030, driven by technology megatrends such as 5G and AI [6][38] Cash Flow and Balance Sheet - Soitec generated a positive free cash flow of €26 million in FY'25, a significant improvement from a negative €43 million in FY'24 [29][30] - The company maintained a strong balance sheet with shareholders' equity of €1.6 billion as of March 31, 2025, up from €1.5 billion a year earlier [33][34] - Financial debt increased slightly to €782 million, with a net debt position of €94 million, reflecting a moderate level of leverage [34]

Summary of Lightwave Logic (LWLG) Conference Call - May 21, 2025 Company Overview - **Company**: Lightwave Logic (LWLG) - **Industry**: AI Hardware and Electro-Optic Polymers - **Market Size**: AI market valued at over $20 billion, projected to reach $30 billion by 2028 [2][3] Core Technology and Business Model - **Unique Material**: Lightwave Logic has developed electro-optic polymers with unique properties that enhance connectivity and bandwidth in AI data centers [2][3] - **Revenue Streams**: The company generates revenue through material sales and licensing/royalty fees, targeting gross margins exceeding 60% at scale [5][39] - **Modulator Functionality**: The electro-optic polymer acts as a modulator, enabling data transmission over fiber optics at speeds exceeding 100 billion times per second [7][8] Market Challenges and Opportunities - **AI Data Centers**: The need for high-speed interconnections in AI factories creates a demand for advanced optical solutions, with a projected market for optical transceivers exceeding $25 billion by 2028 [13][14] - **Competitive Landscape**: Traditional technologies are reaching their limits, creating an opportunity for Lightwave Logic's unique materials to fill the gap [35][36] - **Total Addressable Market**: The company estimates a serviceable market of $1 to $2.5 billion for its modulators within the broader optical communication market [14][39] Customer Engagement and Development Timeline - **Customer Traction**: The company is targeting multiple design wins by 2028, with a focus on major silicon photonics design houses [15][16] - **Development Cycle**: The typical cycle from customer engagement to revenue generation takes 18 to 24 months, with current progress indicating potential for three to five customers in prototype stage by the end of 2025 [21][22] Financial Position and Capitalization - **Financial Health**: Lightwave Logic has a solid balance sheet with no debt, having invested over $100 million in technology and production capabilities [3][41] - **Operational Expenses**: The company has been burning approximately $20 million annually, with adequate financing in place for the next couple of years [42][43] Investor Considerations - **Market Positioning**: The company is positioned to address a significant industry challenge with a unique material, which is rare in the market [48][49] - **Transparency and Credibility**: The CEO emphasizes the importance of transparency regarding customer traction and progress to rebuild investor confidence [45][49] Conclusion - **Value Proposition**: Lightwave Logic presents a compelling investment opportunity due to its innovative technology, strong market demand, and strategic positioning within the rapidly growing AI infrastructure sector [48][49]

Tower Semiconductor (TSEM) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Company Participants Noit Levy - Senior Vice President of Investor Relations & Corporate CommunicationsRussell Ellwanger - CEOOren Shirazi - CFO & Senior VP of FinanceMatthew Bryson - MD - Equity Research Conference Call Participants Cody Acree - Equity Research AnalystRichard Shannon - Senior Research AnalystLisa Thompson - Senior Analyst Operator Good day, and thank you for standing by. Welcome to the Tower Semiconductor First Quart ...

Tower Semiconductor (TSEM) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Company Participants Noit Levy - Senior Vice President of Investor Relations & Corporate CommunicationsRussell Ellwanger - CEOOren Shirazi - CFO & Senior VP of FinanceMatthew Bryson - MD - Equity Research Conference Call Participants Cody Acree - Equity Research AnalystRichard Shannon - Senior Research AnalystLisa Thompson - Senior Analyst Operator Good day, and thank you for standing by. Welcome to the Tower Semiconductor First Quart ...

Tower Semiconductor (TSEM) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Tower Semiconductor First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer speakers' there'll a Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Ms. Noit L ...

GLOBALFOUNDRIES (GFS) FY Conference May 13, 2025 11:30 AM ET Speaker0 All right. Good morning and welcome to JPMorgan's fifty third Annual Technology Media and Communications Conference. Again, my name is Harlan Sur. I'm the semiconductor and semiconductor capital equipment analyst for the firm. Very pleased to have John Hollister, Chief Financial Officer at GlobalFoundries. For those of you that don't know, GlobalFoundries, third or fourth largest semiconductor foundry in the world, leader in specialty and ...

MIGDAL HAEMEK, Israel, May 08, 2025 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will participate in the 22nd Annual Craig-Hallum Institutional Investor Conference in Minneapolis on Wednesday, May 28 and in the 53rd Annual TD Cowen Technology, Media & Telecom Conference in New York on Thursday, May 29. There will be an opportunity for investors to meet one-on-one with company representatives. Interested investors should contact the conference o ...