Advantest (ADR)

Q3 FY2024 (Oct-Dec 2023): Advantest reported approximately ¥175B in quarterly revenue, up strongly as AI-driven test demand accelerated. NVIDIA H100/H200 production was at record levels, AMD MI300X was entering volume production, and Google TPU v5 and Amazon Trainium2 were ramping — all requiring Advantest V93000 testing. HBM demand was explosive: SK Hynix HBM3E was entering production, Samsung and Micron were ramping HBM3, and all HBM stacks require extensive testing. Advantest management noted that AI-related demand was 'significantly driving' SoC tester orders. Semi Test approximately ¥140B. AI estimate: ~18% of Semi Test = ¥140B x 0.18 = ~¥25.2B for AI GPU/accelerator test. HBM test contribution approximately ¥3-4B. Total AI-related ~¥28.5B / ¥175B = ~16.3%, rounded conservatively to 15.0%. This marks a significant step-up as multiple AI chip programs entered volume production simultaneously.