Alphawave Semi reported strong Q2 2024 results, with bookings reaching $107.4 million, up 27% year-over-year. The company attributed its success largely attributed to the growing demand for chiplet-based designs in AI and data center applications. Alphawave secured 14 new design wins in Q2, including a significant deal with a major hyperscaler for its 112G and UCIe-based solutions.
CEO Tony Pialis highlighted the company’s leadership in advanced connectivity solutions, particularly in chiplets for AI and data infrastructure markets. Alphawave now boasts seven designs leveraging advanced packaging and chiplet-based designs on cutting-edge nodes, with most expected to enter production in 2025. The company is also 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.
Key points:
- Q2 2024 bookings reached $107.4 million, up 27% year-over-year
- Secured 14 new design wins, including deals with hyperscalers and leading semiconductor companies
- Seven designs now leverage advanced packaging and chiplet-based designs
- First connectivity silicon products on schedule for shipment by end of 2024
- Potential $300 million in sales over multiple years for first silicon products
- Amended debt facility to provide more flexibility for future growth
- Company expects to have nearly half a billion dollars in backlog by year-end