Semiconductors
Case studies in semiconductors.
AMD: How Much Capacity Should AMD Commit Before Demand Is Certain?
Advanced Micro Devices (AMD) enters the fall of 2026 with accelerating data-center demand, several large customer deployment announcements and substantial existing supply commitments. The company has signed an agreement to acquire AI research company World Labs, pending closing and regulatory/customary conditions. Read case
Analog Devices: Setting the Next Capacity Rule
At 7:01 a.m. on August 19, Analog Devices (ADI) reported third-quarter fiscal 2026 revenue of $4.02 billion, up 40% year over year, and forecast fourth-quarter revenue of $4.3 billion, plus or minus $100 million. The company’s call was scheduled for 10:00 a.m. This case uses the release and filings available before the call; it does not use the call or any later information. Read case
Broadcom and VMware: How Far Should the Bundle Go?
On December 20, 2024, Broadcom filed its fiscal 2024 annual report. It was the first full fiscal year in which Broadcom’s results included VMware, acquired in November 2023. VMware brought a large infrastructure software business into a company whose other major business was semiconductors. Read case
Canadian Solar: Sell the Project or Keep the Asset?
Canadian Solar’s second-quarter results showed two distinct businesses under one corporate umbrella. Manufacturing sold solar modules and battery energy storage systems; Recurrent Energy developed solar and storage projects, sold some assets, operated a portfolio that generated electricity revenue, and provided power services. Read case
Everspin Technologies: Where to Place the Next Commercialization Dollar?
Everspin released its FY2024 results on 26 February 2025; it filed its FY2024 Form 10-K the next day, on 27 February. The company had two visible product-development paths. Its 28nm xSPI STT-MRAM family served industrial and embedded applications; its 1Gb DDR4 STT-MRAM was selected for IBM's FlashCore Module 4, a data-storage system. Read case
First Solar, Inc. — Sequencing the Next Expansion
On March 1, 2024, a hypothetical First Solar strategy team is preparing a recommendation on what should follow the company’s current manufacturing buildout. The company has reported an approximately 8 GW expansion in progress, a dedicated U.S. research and development facility under construction, a large contracted backlog, and higher planned production for 2024. Read case
Intel — Funding the Foundry
At 4:04 p.m. on September 16, Intel CEO Pat Gelsinger sent employees a public update on the company’s next phase. Intel would move toward making its manufacturing operation—Intel Foundry—an independent subsidiary within Intel. The stated aim was to give external customers and suppliers clearer separation while preserving collaboration with Intel’s product businesses. Read case
Microchip Technology: Capacity Choices Through a Downturn
On March 1, 2024, Microchip Technology’s operating and strategy leaders are reviewing how to plan capacity as customers work through excess inventory. Management says most factory expansion activity remains paused, while the company continues selective equipment and facility investment. Read case
Micron Technology: Where to Place the Next Memory Dollar?
On December 18, 2024, Micron Technology reported record quarterly revenue. Its data-center business had become a larger part of the company, and its high-bandwidth memory (HBM) products were part of the hardware supporting artificial-intelligence computing. Read case
Monolithic Power Systems: The Next Power Roadmap
Monolithic Power Systems (MPS) designs semiconductor-based power electronics. It is a fabless company: outside suppliers manufacture, assemble, and test its products, while MPS focuses on design, engineering, system knowledge, integration, and packaging. Its leadership has described a continuing shift from a chip-only supplier toward a full-solution provider. Read case
NVIDIA: Where Should NVLink Fusion Draw the Platform Boundary?
NVIDIA has announced a way for partners and customers to connect custom compute silicon to NVLink and NVIDIA rack-scale systems. It has also expanded its relationship with Marvell and invested $2 billion in the company. Read case
NXP Semiconductors: Building a Singapore Supply Option
At 8:30 a.m. Central European Summer Time on 5 June 2024, NXP Semiconductors and Vanguard International Semiconductor (VIS) announced a plan to establish VisionPower Semiconductor Manufacturing Company (VSMC), a joint venture that would build a 300-mm wafer fab in Singapore. The announcement called for VIS to own 60% and operate the facility, while NXP would own 40%. Read case
onsemi: How fast to scale silicon-carbide capacity?
By 6 February 2024, ON Semiconductor Corporation (onsemi) had published its 2023 results and annual report. The company had reported a fourfold year-over-year increase in silicon-carbide (SiC) revenue, record automotive revenue, and more than $1.5 billion of capital expenditures in 2023. Read case
Qualcomm: Where to place the next engineering dollar?
On the afternoon of November 1, Qualcomm Incorporated released results for fiscal 2023 and filed its annual report. The company had just reported a sharp contraction in its handset business, while automotive revenue continued to grow. Read case
Skyworks and Qorvo: Integrating the Work, Protecting the Edge
On September 19, 2026, Skyworks Solutions' leadership team was preparing for a possible combination with Qorvo. Shareholders had approved the transaction, but the merger had not closed. Regulatory and customary closing conditions remained, and the latest public update did not say otherwise. Read case
Texas Instruments: When Should Modular Capacity Become Installed Capacity?
In October 2026, Texas Instruments (TI) was entering a new phase of its manufacturing program. The company had spent heavily on U.S. fabrication sites and was now describing a more modular approach: build or prepare the physical space, then install equipment and ramp production as customer demand justified it. Read case