IQE wins USD14 million order from AI and data-centre customer
IQE PLC on Tuesday said it has secured a USD14 million multi-year production order from a "strategic global technology customer".
The Cardiff-based supplier of advanced compound semiconductor wafer products and material solutions said the order supports applications for the artificial intelligence and data centre markets.
The order will be manufactured at IQE's Newport foundry.
IQE added that it continues to work with the customer, which it didn't name, on "future opportunities" including developing next-generation technologies for the customer's data lifecycle.
"We are pleased to have secured this production order with a strategic global technology leader, supporting the rapid growth of AI and datacentre markets from IQE's volume manufacturing facility at Newport and expected to build over the coming years," said Chief Executive Officer Jutta Meier.
"This highlights the role IQE plays supporting high-performance infrastructure from the datacentre to the edge, enabled by our differentiated epitaxy portfolio, which also includes indium phosphide optical communications, silicon photonics and gallium arsenide VCSEL-based datacom applications."
Shares in IQE were up 5.3% at 41.60 pence on Tuesday morning in London.
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