Besi lifts targets and posts record orders on AI hybrid bonding demand
Long-term targets raised on AI packaging demand Besi raised its long-term revenue target to €1.7–2.2 billion and lifted the low end of its operating margin goal to 45%, citing stronger hybrid bonding demand for AI data centres and photonics. Higher expected sales and profits support a higher share price.
This is a new, company-specific upgrade to future growth and profitability that directly lifts the value investors place on Besi.
Q2 orders more than double to €292.9 million Second-quarter orders more than doubled from a year earlier to €292.9 million, driven by AI, hybrid bonding, photonics and data centres. The number of customers using its hybrid bonding tools rose to 21 from 15, and management sees momentum continuing into the third quarter.
Surging orders and wider customer adoption are the clearest evidence that demand for Besi's key AI packaging technology is accelerating.
Q2 profit jumps 177% on higher sales and margins Net income surged 177% to €89 million as revenue rose 68.7% to €249.9 million, helped by hybrid bonding, photonics, data centres and mobile demand. The company guided third-quarter revenue 10–15% higher than the second quarter, pointing to continued growth.
The profit surge and upbeat guidance show the AI-driven demand is already flowing into earnings, which is what ultimately drives the share price.
China AI model jitters hit chip equipment shares Besi fell 4.5% as European tech stocks sold off on fears that China's new Kimi K3 AI model rivals top US models, potentially reducing demand for semiconductor equipment. This is a sentiment-driven risk, not a change in Besi's own business.
It is a real counterweight: a broad, external fear that can pressure Besi's shares even when its own orders and profits are strong.