Aehr Test Systems
AEHRQ2 2023(AEHR Q4 FY2023)Estimated1% AI
AI Revenue %
1%
AI Fair Value
$6.9M
AI Revenue (Q)
$214,310
Total Revenue (Q)
$21.4M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
AEHR's FY2023 10-K (ended May 2023) still does not mention AI as a dedicated market. The business remained dominated by SiC/EV burn-in: top 2 customers = 79% + 10% = 89% of revenue. Total FY2023 revenue was approximately $66M. Silicon photonics is discussed for 'data center infrastructure and worldwide 5G infrastructure' and mentions 'co-packaged photonics integrated circuits with microprocessors, graphics processors' but does not specifically call out AI demand. No Incal acquisition yet. Conservative estimate: ~1% of revenue (~$0.7M) from silicon photonics orders that were at least partially AI data center-adjacent. This is speculative -- no direct AI disclosure.
Analyzed by claude-opus-4-6
Quoted Figures
During fiscal 2023, two customers accounted for approximately 79% and 10% of our net sales.
10-K FY2023, Item 1A Risk Factors
The application of silicon photonics integrated circuits for use in optical chip-to-chip communication in addition to the current photonics as multiple companies have made announcements regarding their product roadmaps for co-packaged photonics integrated circuits with microprocessors, graphics processors, chip sets for computing as well as artificial intelligence applications.
10-K FY2023, Item 1 Business - Silicon Photonics section
AI Products Identified (Ring 1)
FOX-P systems for silicon photonics wafer-level burn-in (partial AI adjacency)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Silicon photonics burn-in for AI data center optical interconnectsGeneral SiC/GaN burn-in equipment (non-AI)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix