{"slug":"arteris","name":"Arteris","name_en":"Arteris","ticker":"AIP","updated_at":"2026-07-12T04:08:44.924215+00:00","canonical":"https://valuechain.wiki/arteris","same_as":["https://finance.yahoo.com/quote/AIP","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1667011"],"citable":"밸류체인 그래프 기준 Arteris의 직접 연결 기업은 4곳(관계 기준 공급 0·매출 4)이고, 사슬을 2차까지 넓히면 14곳에 닿는다. 링크의 근거 출처는 7건이며 그중 1차공시가 4건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Arteris is directly linked to 4 companies (0 supply, 4 revenue relationships) and reaches 14 companies within two hops; the links are backed by 7 dated sources, 4 of them primary filings (as of 2026-07-12).","kicker":"NoC 인터커넥트 IP · 칩 내부 배선","kicker_en":"NoC interconnect IP · on-chip wiring","lead":"네트워크온칩(NoC) 인터커넥트 IP 기업. FlexNoC·FlexGen·Ncore로 칩·칩렛 내부의 데이터 전송을 설계한다. AMD가 칩렛 AI용으로 FlexGen을 라이선스했고, 2025년 매출 $70.6M·ACV+로열티 $83.6M(+28%), 로열티 +50%. Arm·시놉시스 옆에서 SoC 내부 배선을 담당하는 IP 레이어.","lead_en":"A network-on-chip (NoC) interconnect IP firm. Its FlexNoC, FlexGen and Ncore design data transport inside chips and chiplets. AMD licensed FlexGen for chiplet AI; 2025 revenue $70.6M, ACV+royalties $83.6M (+28%), royalties +50%. An IP layer handling on-SoC wiring beside Arm and Synopsys.","segments":{"parts":[{"desc":"온칩 인터커넥트 IP(FlexNoC·FlexGen). 설계 라이선스가 양산 로열티로 이어지는 주력으로, SoC 복잡도 상승이 구조적 수요.","name":"NoC IP(FlexNoC·FlexGen)"},{"desc":"SoC 통합·자동화·기능안전 툴. 차량용 등 기능안전 요구가 큰 SoC에서 NoC와 함께 채택되는 부가 축.","name":"SoC 자동화·보안"}],"total":"2025 매출 $70.6M, ACV+로열티 $83.6M","concentration":"AMD 칩렛 라이선스. 로열티 +50%."},"segments_en":{"parts":[{"desc":"On-chip interconnect IP (FlexNoC, FlexGen) — the flagship where design licenses lead to production royalties, with rising SoC complexity as structural demand.","name":"NoC IP (FlexNoC/FlexGen)"},{"desc":"SoC integration, automation and functional-safety tools — an adjacent axis adopted alongside NoC in safety-critical SoCs such as automotive.","name":"SoC automation/security"}],"total":"2025 revenue $70.6M, ACV+royalties $83.6M","concentration":"AMD chiplet license; royalties 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Technologies","tier":1,"returns_yearly":{"2021":10.4,"2022":-8.6,"2023":3.4,"2024":-4,"2025":31,"2026":75.5}}],"benefiting":[],"analysis":"투자 논점은 칩렛·AI SoC 시대에 온칩 인터커넥트 IP 로열티가 복리로 커지느냐다. FlexNoC·FlexGen·Ncore로 칩·칩렛 내부 데이터 배선을 설계하며, AMD가 칩렛 AI용 FlexGen을 라이선스하고 인피니언·GigaDevice·SiEngine이 차량 MCU/SoC에 채택했다 — 설계 단계 라이선스가 양산 로열티로 이어지는 구조라 로열티(+50%)가 실적 레버리지다. SoC가 복잡해질수록(칩렛·멀티코어) NoC의 필요성이 커지는 구조적 수요이고, 차량용 확장이 새 성장축이다. 리스크는 소수 대형 고객(AMD·삼성) 의존과, Arm·시놉시스 등 IP 대기업과의 경쟁이다.","analysis_en":"The thesis is whether on-chip interconnect IP royalties compound in the chiplet and AI-SoC era. FlexNoC, FlexGen and Ncore design the data wiring inside chips and chiplets; AMD licensed FlexGen for chiplet AI, and Infineon, GigaDevice and SiEngine adopted it for automotive MCUs/SoCs — design-stage licenses lead to production royalties, so royalties (+50%) are the earnings leverage. As SoCs grow more complex (chiplets, multicore), the need for NoC rises, a structural demand, with automotive expansion the new growth axis. The risks are dependence on a few large customers (AMD, Samsung) and competition from IP giants like Arm and Synopsys.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"반도체·전장 설계사 (NoC IP 로열티)","counterparty_slug":null,"confidence":"high","metric":{"type":"share","unit":"%","as_of":"2024-12","basis":"10-K — 매출 $57.7M 중 라이선스 91%·로열티 7.6%","value":15,"period":"FY2024 최대 고객(Customer C)","basis_en":"10-K - revenue $57.7M: licenses 91%, royalties 7.6%"},"note":"칩·전장 설계사에 NoC IP 라이선스·로열티(누적 40억+ SoC).","note_en":"NoC IP licenses and royalties to chip and automotive designers (4B+ SoCs shipped).","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"research","lang":"en","published_at":"2026-02-12","url":"https://www.stocktitan.net/sec-filings/AIP/10-k-arteris-inc-files-annual-report-4edc314938e9.html","title":"Arteris 2025 매출 $70.6M(AI 칩 수요)","title_en":"Arteris 2025 revenue $70.6M on AI chip demand","excerpt":"ACV+로열티 $83.6M(+28%), 로열티 +50%.","excerpt_en":"ACV+royalties $83.6M (+28%); royalties +50%."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/0001667011/000162828026007669/exhibit991fy258-k.htm","title":"Arteris FY2025 실적(8-K)","title_en":"Arteris FY2025 results (8-K)","excerpt":"ACV+로열티 $83.6M(+28%), 로열티 +50%.","excerpt_en":"ACV+royalties $83.6M (+28%); royalties +50%."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-01","url":"https://www.sec.gov/Archives/edgar/data/1667011/000166701125000010/aip-20241231.htm","title":"Arteris 10-K FY2024","title_en":"Arteris 10-K FY2024","excerpt":"FY2024 매출 $57.7M = 라이선스·지원 $52.8M + 변동 로열티 $4.4M. 10% 이상 고객 1곳(Customer C 15%, 2023년 13%).","excerpt_en":"FY2024 revenue $57.7M: licensing/support $52.8M plus variable royalties $4.4M; one customer above 10% (Customer C at 15%)."}]},{"direction":"revenue","counterparty":"AMD","counterparty_slug":"amd","confidence":"high","metric":null,"note":"AMD가 칩렛 AI SoC용으로 FlexGen NoC IP를 라이선스 — 칩렛 아키텍처가 확산될수록 온칩 배선 IP의 필요성이 커지는 구조적 채택. 대형 고객 디자인윈이 양산 로열티로 이어진다.","note_en":"AMD licensed FlexGen NoC IP for chiplet AI SoCs — a structural adoption as chiplet architectures spread and on-chip wiring IP becomes more essential; a large-customer design win that leads to production royalties.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/0001667011/000162828026007669/exhibit991fy258-k.htm","title":"Arteris FY2025 실적(8-K)","title_en":"Arteris FY2025 results (8-K)","excerpt":"AMD가 칩렛 AI용으로 FlexGen NoC IP 라이선스.","excerpt_en":"AMD licensed FlexGen NoC IP for chiplet AI."},{"stance":"confirms","publisher":"BriefGlance","publisher_en":"BriefGlance","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://briefglance.com/companies/arteris-inc/pulses/23658","title":"Arteris, AMD 칩렛 라이선스·로열티 +50%","title_en":"Arteris: AMD chiplet license, royalties +50%","excerpt":"AMD가 칩렛 AI용으로 FlexGen NoC IP 라이선스.","excerpt_en":"AMD licensed FlexGen NoC IP for chiplet AI."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-01","url":"https://www.sec.gov/Archives/edgar/data/1667011/000162828025048868/exhibit991q3fy258-k.htm","title":"Arteris Q3 FY2025 실적 발표(8-K)","title_en":"Arteris Q3 FY2025 earnings release (8-K)","excerpt":"AMD ordered additional licenses of Arteris technology in the third quarter, following its multi-project license of FlexGen in the second quarter. (AMD가 FlexGen 멀티프로젝트 라이선스에 이어 추가 주문)","excerpt_en":"AMD ordered additional licenses in Q3, following its multi-project FlexGen license in Q2."}]},{"direction":"revenue","counterparty":"인피니언","counterparty_slug":"infineon","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"MCU 1위 인피니언이 차량 Tier1·OEM향 마이크로컨트롤러에 아르테리스 인터커넥트 IP 라이선스(2024). MCU 시장 진입의 전략적 확장 건.","note_en":"Infineon, the leading MCU maker, licensed Arteris interconnect IP for automotive microcontrollers (2024) - Arteris's strategic expansion into MCUs.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-01","url":"https://www.sec.gov/Archives/edgar/data/1667011/000166701125000009/exhibit991fy248-k.htm","title":"Arteris Q4/FY2024 실적 발표(8-K)","title_en":"Arteris Q4/FY2024 earnings release (8-K)","excerpt":"Licensing Arteris interconnect to Infineon, the leading MCU company, serving the world's top automotive Tier 1 vendors and OEMs.","excerpt_en":"Licensed Arteris interconnect to Infineon, the leading MCU company."}]},{"direction":"revenue","counterparty":"GigaDevice","counterparty_slug":"gigadevice","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"차량용 마이크로컨트롤러 디자인윈(2024). 중국 MCU·메모리 업체의 차량 SoC에 NoC IP 채택.","note_en":"Automotive MCU design win (2024): GigaDevice adopted Arteris NoC IP for its automotive chips.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-01","url":"https://www.sec.gov/Archives/edgar/data/1667011/000166701125000009/exhibit991fy248-k.htm","title":"Arteris Q4/FY2024 실적 발표(8-K)","title_en":"Arteris Q4/FY2024 earnings release (8-K)","excerpt":"Announced design wins with GigaDevice for automotive microcontrollers.","excerpt_en":"Design win with GigaDevice for automotive microcontrollers."}]},{"direction":"revenue","counterparty":"SiEngine","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"ECARX·싱지메이주 합작 차량 SoC 업체. 차세대 콕핏·ADAS SoC 플랫폼에 FlexNoC 라이선스(2026.6, 재계약 고객).","note_en":"SiEngine (ECARX/Xingji-Meizu JV) licensed FlexNoC for its next-generation automotive cockpit/ADAS SoC platform (June 2026, repeat customer).","sources":[{"stance":"confirms","publisher":"GlobeNewswire","publisher_en":"GlobeNewswire","kind":"ir","lang":"en","published_at":"2026-06-24","url":"https://www.globenewswire.com/news-release/2026/06/24/3316867/0/en/Arteris-Technology-Licensed-by-SiEngine-for-Next-Generation-Automotive-SoCs.html","title":"SiEngine, 차세대 차량 SoC에 아르테리스 라이선스","title_en":"Arteris technology licensed by SiEngine for next-gen automotive SoCs","excerpt":"SiEngine Technology has licensed Arteris FlexNoC network-on-chip interconnect IP for its next-generation automotive SoC platform.","excerpt_en":"SiEngine licensed Arteris FlexNoC for its next-gen automotive SoC platform."}]},{"direction":"revenue","counterparty":"삼성전자","counterparty_slug":"samsung-electronics","confidence":"mid","metric":null,"note":"삼성전자 SoC에 NoC IP를 라이선스 — 모바일·오토모티브 SoC의 코어 수·복잡도가 늘수록 채택이 확대되는 매출선. 대형 고객 의존이 곧 집중 리스크다.","note_en":"Licenses NoC IP into Samsung SoCs — a revenue line expanding as core counts and complexity in mobile/automotive SoCs rise; large-customer dependence is also concentration risk.","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"research","lang":"en","published_at":"2026-02-12","url":"https://www.stocktitan.net/sec-filings/AIP/10-k-arteris-inc-files-annual-report-4edc314938e9.html","title":"Arteris 2025 매출 $70.6M(AI 칩 수요)","title_en":"Arteris 2025 revenue $70.6M on AI chip demand","excerpt":"삼성 SoC에 NoC IP 라이선스.","excerpt_en":"NoC IP licensed for Samsung SoCs."}]},{"direction":"cost","counterparty":"R&D·EDA (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"NoC IP·SoC 자동화 R&D와 EDA 툴 비용 — 칩렛·기능안전 등 새 요구를 IP에 반영하는 개발이 곧 로열티 파이프라인의 원천이다(비공개).","note_en":"R&D in NoC IP and SoC automation plus EDA-tool costs — development that folds new requirements (chiplets, functional safety) into the IP is the source of the royalty pipeline (undisclosed).","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/0001667011/000162828026007669/exhibit991fy258-k.htm","title":"Arteris FY2025 실적(8-K)","title_en":"Arteris FY2025 results (8-K)","excerpt":"FlexNoC·FlexGen·Ncore 개발.","excerpt_en":"Develops FlexNoC, FlexGen, Ncore."}]},{"direction":"cost","counterparty":"인력·운영 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"설계 인력·운영 비용이 IP 기업 원가의 축. 라이선스 매출이 인건비를 넘어서는 시점부터 로열티가 고정비 위로 복리 레버리지를 낸다(비공개).","note_en":"Design headcount and operating costs are the cost core of an IP company — once license revenue exceeds payroll, royalties compound as leverage above fixed costs (undisclosed).","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"research","lang":"en","published_at":"2026-02-12","url":"https://www.stocktitan.net/sec-filings/AIP/10-k-arteris-inc-files-annual-report-4edc314938e9.html","title":"Arteris 2025 매출 $70.6M(AI 칩 수요)","title_en":"Arteris 2025 revenue $70.6M on AI chip demand","excerpt":"IP 투자로 적자.","excerpt_en":"Net loss amid IP investment."}]}]}