Besi leans on AI to keep bookings coming in

As is the case for other Dutch semiconductor equipment makers, AI continues to prop up Besi’s results as the mainstream chip market remains weak. The Duiven-headquartered firm reported revenue of 144 million euros in Q1 2025, down 6.1 percent sequentially and down 1.5 percent year-on-year. Orders saw an 8.2 percent uptick sequentially (3.3 percent YoY) thanks to bookings for AI-related data center applications.

“Our business development this year reflects the contrasting growth trends seen in the assembly equipment market between AI and mainstream applications. The timing and trajectory of a mainstream assembly upturn is more difficult to predict now, given new tariff uncertainties. However, demand for advanced packaging for AI applications remains strong, given upcoming new device introductions and use cases planned in the 2026-2028 time period. We continue to assess the potential impact of tariffs on Besi’s customers, supply chain and end user markets,” commented Besi CEO Richard Blickman.

Besi reported “significant progress” in hybrid-bonding adoption, noting orders from “two leading memory producers” for HBM4 applications. Furthermore, “a leading US logic manufacturer” has successfully integrated Besi’s gear in its production lines. Finally, the announcement of TSMC and Nvidia to start using co-packaged optics may benefit the Dutch firm.

Last week, Applied Materials announced the acquisition of a 9-percent stake in Besi, fueling speculation about a potential takeover down the road.