Company Overview - Advanced Energy is headquartered in Denver, Colorado, and has been operating for approximately 45 years, initially providing power solutions for etch chamber manufacturers like Applied Materials and Lam [3] - Currently, about 50% of the company's business is in semiconductor equipment, where it supplies critical subsystems [3] - The other half of the business is categorized as system power, primarily serving AI data centers, along with significant contributions from industrial and medical products [4] Revenue Composition - Over 70% of Advanced Energy's revenue is derived from sole-source products, indicating a strong market position in high-end applications [4]