Semiconductor RF power · AI-datacenter power
Advanced Energy Industries
Advanced Energy Industries makes the RF and power supplies that drive plasma processes in semiconductor equipment. Its plasma power products go into dry etch and deposition tools, and about half of revenue comes from the semiconductor equipment market. Total 2025 revenue was $1,798.8 million, and the company depends heavily on a few large equipment makers such as Lam Research, Tokyo Electron, and Applied Materials, with its top three customers accounting for 23%, 19%, and 12% of revenue. More recently, surging demand for AI data center server-rack power drove Data Center Computing revenue up more than double (+106.7%) to $587.3 million in 2025, and the company is pursuing hyperscalers with converters built for 800V DC power architectures.
AEIS Updated Jul 12, 2026 3 AI consumers· 3 recurring
Per the valuechain.wiki graph, Advanced Energy Industries is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 17 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Segments · Semiconductor (RF/plasma power) · Data Center (AI server power) · Industrial & Medical · Telecom & Networking
Revenue from
- Tokyo Electron (TEL) High confidence
Tokyo Electron process tools are supplied with Advanced Energy plasma power products.Confirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K - Applied Materials High confidence
Applied Materials etch/deposition systems incorporate Advanced Energy RF and power supplies.Confirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K - Lam Research High confidence
Lam Research etch/deposition tools carry Advanced Energy RF and plasma power supplies; one of the major equipment makers among the top-3 customers at 23/19/12% of revenue.Confirms EN MarketBeat Published Jun 15, 2026: Advanced Energy Industries (AEIS) Stock Forecast and Price Target 2026Confirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K - 데이터센터·하이퍼스케일러 (AI 서버 전원) Medium confidence· revenue by market $587M · FY2025 · Data Center Computing revenue $587.3M, +106.7% YoY, 32.6% of total
AI data center server-rack power demand more than doubled Data Center Computing revenue in 2025. Advanced Energy works with hyperscalers such as Microsoft, Amazon, and Alphabet on 800V DC architecture converters, with high concentration among a small set of hyperscale customers.Confirms EN StockTitan Published Jun 4, 2026: Advanced Energy Introduces 800 V DC Converters for Next-Generation AI Data CentersConfirms KO Investing.com Published May 5, 2026: Advanced Energy Q1 2026: data center revenue doubles, guidance raisedConfirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K
Pays to
- 위탁생산(EMS)·기계부품 (비공개) Medium confidence
Advanced Energy uses numerous companies, including contract manufacturers, to supply mechanical and electrical parts for its products.Confirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K - 전력반도체·전자부품 (비공개) Medium confidence
Products require a wide variety of electrical and electronic components; some key parts are sourced only from a sole or limited group of suppliers.Confirms EN U.S. SEC / Advanced Energy Industries Published Feb 13, 2026: Advanced Energy Industries FY2025 Form 10-K
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| SanDisk | lead2 | · | · | · | · | · | +633 |
| Micron Technology | lead2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| United Microelectronics (UMC) | lead2 | +43.2 | -40.3 | +39.2 | -19 | +28.8 | +168.9 |
| Kioxia | lead2 | · | · | · | · | +1082.1 | +155 |
| Tower Semiconductor | lead2 | +53.7 | +8.9 | -29.4 | +68.8 | +128 | +89.4 |
| ROHM | lead2 | -9 | +10.9 | +1.7 | -40.8 | +86.1 | +82 |
| SK hynix | lead2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Samsung Electronics | lead2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Nanya Technology | lead2 | -8.3 | -14.2 | +22.5 | -56.2 | +984.7 | +52.4 |
| Texas Instruments | lead2 | +17.5 | -9.9 | +6.4 | +13.1 | -4.5 | +51.5 |
| TSMC | lead2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| onsemi | lead2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| GlobalFoundries | lead2 | · | -17.1 | +12.5 | -29.2 | -18.6 | +29.7 |
| SMIC | lead2 | -29.6 | -7.4 | -18.3 | +169.9 | +98.4 | -10.9 |
| Lam Research | lead1 | +53.7 | -40.7 | +88.6 | -6.8 | +139.2 | +80.1 |
| Applied Materials | lead1 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +77.6 |
| Tokyo Electron (TEL) | lead1 | +40.4 | -14.5 | +89.8 | -4.4 | +61.6 | +30.3 |
| Advanced Energy Industries | node | -5.7 | -5.4 | +27.5 | +6.6 | +81.6 | +34.3 |
YTD as of 2026-09-04 · source: Yahoo Finance
Advanced Energy Industries operates across NASDAQ, Semiconductor RF power, AI-datacenter power. Momentum stayed firm and it is +34.3% in 2026. The demand side (avg +62.7%) leads the stock (+34.3%), so customer moves come first here. Among connected nodes the furthest ahead is Lam Research (+80.1%) and the furthest behind is Tokyo Electron (TEL) (+30.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. More recently, surging demand for AI data center server-rack power drove Data Center Computing revenue up more than double (+106.7%) to $587.3 million in 2025, and the company is pursuing hyperscalers with converters built for 800V DC power architectures.
Analysis generated from returns as of 2026-09-04