SUMCO Corp (ADR)

SUMCO does not disclose AI-specific revenue. No SEC filings (Japanese company, ADR). Q1 CY2023 (Jan-Mar 2023): SUMCO reported ¥101.3B (~$760M) quarterly revenue. SUMCO is a pure-play silicon wafer manufacturer (~100% wafer revenue), unlike Shin-Etsu which is diversified. SUMCO is the world's #2 silicon wafer producer with ~25% global market share, supplying 300mm and 200mm polished/epitaxial wafers to TSMC, Samsung, Intel, GlobalFoundries, and others. Revenue split: 300mm wafers ~75% of revenue (~¥76B), 200mm and smaller ~25% (~¥25B). AI chip wafers are 300mm only. In Q1 2023 (post-ChatGPT launch but pre-AI chip demand surge), leading-edge 300mm wafers (5nm/4nm/3nm nodes where AI GPUs are made) represented perhaps 20% of total 300mm wafer volume. AI chips (training GPUs, inference accelerators) were a subset of leading-edge production, estimated at ~20% of leading-edge starts. Since SUMCO is pure-play wafers (not diversified like Shin-Etsu), the AI fraction of total revenue is higher. Math: 75% revenue from 300mm wafers x 20% leading-edge share of 300mm x 20% AI share of leading-edge = 3.0%. ¥101.3B x 3.0% = ~¥3.0B (~$23M) estimated AI revenue.