SUMCO Corp (ADR)
SUMCYQ4 2022(SUMCY Q2 FY2023)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$96.0M
AI Revenue (Q)
$22.5M
Total Revenue (Q)
$750.0M
Analysis
Q2 CY2023 (Apr-Jun 2023): SUMCO reported ¥103.2B (~$750M) quarterly revenue. The semiconductor downturn was easing but wafer shipments remained soft. AI GPU demand was surging at TSMC (H100 production at scale) but the wafer demand impact was still limited — AI chips use relatively few wafers compared to smartphone SoCs and memory chips by volume. NVIDIA's data center revenue inflection (guiding $11B for Jul quarter) signaled massive AI chip demand, but wafer pull-through is a lagging indicator. 300mm wafer demand for AI remained ~20% of leading-edge, and leading-edge was ~20% of total 300mm volume. No change from Q1 estimate. Math: 75% from 300mm x 20% leading-edge x 20% AI = 3.0%. ¥103.2B x 3.0% = ~¥3.1B (~$22M) estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
SUMCO maintained long-term agreement pricing with major foundry and memory customers despite volume softness in 2023
SUMCO Corporation 2023 management commentary
NVIDIA guided Q2 FY2024 revenue to $11B, signaling massive AI GPU demand pull-through to TSMC wafer consumption
NVIDIA Q1 FY2024 earnings call, May 2023
AI Products Identified (Ring 1)
300mm epitaxial wafers for TSMC N5/N4 AI GPU production300mm polished wafers for HBM DRAM
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.
300mm wafers for smartphone SoCs300mm wafers for non-HBM memory200mm wafers (automotive, IoT, industrial)150mm and smaller wafers
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix