BE Semiconductor Industries (BESI) reported a significant increase in quarterly orders in the first quarter, driven by growth across all markets and particularly strong demand for hybrid bonding technology. Hybrid bonding is a chip technology that allows two chips to be bonded directly on top of each other, and investors are optimistic about Besi’s position as a first-mover in this space amid a surge in demand for AI-enabling technology.
The company’s order bookings jumped 104.5% to 269.7 million euros in the first quarter, compared to 131.9 million euros in the previous year. Analysts at J.P. Morgan noted that there is progress in hybrid bonding adoption, especially in the memory market, with a second customer starting qualification in high bandwidth memory.
Besi delivered a strong order intake at the beginning of the year, exceeding consensus estimates by around 4%, and guided for stronger sales in the second quarter. As a result, the company’s shares, which have already gained 79% this year, were up around 3% in early trading, outperforming the Dutch AEX index.
Despite weak demand in automotive, PC, and memory chips, investments in AI have been driving growth in the semiconductor industry. Recent results from key players in the chip industry, such as TSMC, ASML, and ASM International, have shown that the sector is benefiting from the increasing demand for AI chips.
Besi forecasts its revenue to grow between 30% and 40% in the second quarter, compared to 184.9 million euros in the first quarter of 2026. Additionally, Franco-Italian chipmaker STMicroelectronics also reported first-quarter results above estimates, indicating signs of recovery in its semiconductor markets.
Overall, the semiconductor industry is experiencing strong growth driven by demand for AI chips, and companies like Besi are well-positioned to capitalize on this trend. With a strong order intake and positive outlook for the future, Besi is poised for continued success in the coming quarters.
