SUMCO Corp (ADR)
SUMCYQ1 2024(SUMCY Q3 FY2024)Estimated7% AI
AI Revenue %
7%
AI Fair Value
$224.0M
AI Revenue (Q)
$52.5M
Total Revenue (Q)
$750.0M
Analysis
Q3 CY2024 (Jul-Sep 2024): SUMCO reported ¥101.2B (~$680M) quarterly revenue, showing recovery. AI infrastructure buildout was at unprecedented scale. TSMC leading-edge utilization at record levels — N3/N4 booked out for AI accelerators (NVIDIA Blackwell B200, AMD MI325X, Google TPU v6, custom ASICs). HBM demand was supply-constrained; SK Hynix fully allocated through 2025. All three DRAM makers were converting existing DRAM lines to HBM, increasing wafer consumption per bit shipped (HBM uses more wafer area due to TSV keep-out zones and smaller die yields). 300mm wafer supply tightening — SUMCO and Shin-Etsu both signaling capacity constraints for leading-edge wafers. However, AI wafers remain a minority of total 300mm wafer consumption: smartphones still ~30% of total wafer demand, automotive ~15%, PC ~10%. Math: 75% from 300mm x 28% leading-edge x 33% AI share of leading-edge = ~6.9%, rounded to 7.0%. ¥101.2B x 7.0% = ~¥7.1B (~$48M) estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
SK Hynix HBM capacity fully allocated through 2025, with Samsung and Micron also expanding HBM production requiring additional 300mm wafers
Industry reports, Q3 2024
300mm silicon wafer industry saw tightening supply in H2 2024, with leading-edge logic and HBM driving incremental demand
SEMI SMG data, H2 2024
AI Products Identified (Ring 1)
300mm epitaxial wafers for N3/N4 AI accelerator production300mm polished wafers for HBM3E/HBM4 DRAMAdvanced 300mm SOI wafers for AI networking chips
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 DRAM/NAND200mm wafers (automotive, IoT, industrial, power)150mm and smaller wafers
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix