BE Semiconductor raises long-term targets to €2.2B on AI chip demand

BE Semiconductor Industries raised its long-term revenue and profitability targets, citing surging demand for AI-related chip assembly equipment that has transformed its order pipeline since mid-2025.

"Overall market conditions and order momentum have improved significantly since the second quarter of 2025," the company said in a statement Thursday.

The Dutch supplier of semiconductor assembly equipment, also known as Besi, now targets total revenue ranging from €1.7 billion ($1.96 billion) to €2.2 billion ($2.53 billion) over the long term, up from a previous range of €1.5 billion to €1.9 billion. The company also raised its profitability targets, though it did not disclose the new margin figures.

The guidance upgrade positions Besi to capture a larger share of the AI infrastructure buildout, as chipmakers race to expand capacity for advanced packaging — a critical step in producing high-bandwidth memory and processor chiplets used in AI accelerators. Besi shares rose 3.75% on the Euronext Amsterdam exchange.

The raised targets reflect increased demand for AI-related data-center and photonics applications as well as new use cases, the Duiven-based company said. Besi specializes in die-attach and packaging equipment, technologies essential for assembling the complex chip stacks used in processors from Nvidia and Advanced Micro Devices.

The semiconductor assembly equipment market has tightened as AI chip demand outpaces supply. ASML Holding, Besi's larger Dutch peer and the dominant supplier of lithography systems, has similarly benefited from the AI boom, with its order backlog swelling to record levels. ASM International, another Dutch semiconductor equipment maker, has also flagged strong demand for its deposition tools used in advanced chip manufacturing.

Besi's upgraded outlook aligns with broader industry momentum. Bank of America last week raised its estimate for the global server CPU market to more than $170 billion from $125 billion, citing the rise of agentic AI — systems capable of carrying out complex tasks with limited human input. The brokerage named Nvidia its top sector pick while upgrading Intel and raising price targets on AMD and Arm Holdings.

Besi trades at roughly 30 times forward earnings, a premium to ASM International but below ASML's multiple, reflecting its smaller scale in the equipment value chain. The raised targets, if achieved, would imply revenue growth of 15% to 45% above the previous ceiling, giving investors a clearer upside case as AI-driven packaging demand accelerates through 2027.

This article is for informational purposes only and does not constitute investment advice.