Alphawave Semi reported robust Q2 2024 results, with bookings reaching $107.4 million, reflecting a 27% increase year-over-year. This growth is largely due to the rising demand for chiplet-based designs in AI and data centre applications. During this period, Alphawave secured 14 new design wins, including a significant deal with a major hyperscaler for its 112G and UCIe-based solutions.
CEO Tony Pialis emphasised the company’s leadership in advanced connectivity solutions, particularly in chiplets for AI and data infrastructure markets. Alphawave now has seven designs utilising advanced packaging and chiplet-based designs on cutting-edge nodes, with most expected to enter production in 2025. The company is on track to ship its first connectivity silicon products by the end of 2024, with potential sales exceeding $300 million over multiple years to a leading hyperscaler.
Additional key achievements for Q2 2024 include securing deals with hyperscalers and leading semiconductor companies. Alphawave’s advanced packaging and chiplet-based designs are now featured in seven designs. The first connectivity silicon products are scheduled for shipment by the end of 2024, with projected sales potentially reaching $300 million over several years. The company also amended its debt facility to provide greater flexibility for future growth and anticipates nearly half a billion dollars in backlog by the end of the year.
Alphawave IP Group plc (LON:AWE) is a semiconductor IP company focused on providing DSP based, multi-standard connectivity Silicon IP solutions targeting both data processing in the Datacenter and data generation by IoT end devices.
