NoC interconnect IP · on-chip wiring
Arteris
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.
AIP Updated Jul 12, 2026 5 AI consumers· 3 recurring
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).
Financials & Segments
- Total revenue · 2025 revenue $70.6M, ACV+royalties $83.6M
- Customer concentration · AMD chiplet license; royalties +50%.
- Segments · NoC IP (FlexNoC/FlexGen) · SoC automation/security
Revenue from
- Semiconductor · automotive electronics designers (NoC IP royalties) High confidence· Market share 15% · FY2024 최대 고객(Customer C) · 10-K - revenue $57.7M: licenses 91%, royalties 7.6%
NoC IP licenses and royalties to chip and automotive designers (4B+ SoCs shipped). - AMD High confidence
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. - Infineon Technologies High confidence
Infineon, the leading MCU maker, licensed Arteris interconnect IP for automotive microcontrollers (2024) - Arteris's strategic expansion into MCUs. - GigaDevice High confidence
Automotive MCU design win (2024): GigaDevice adopted Arteris NoC IP for its automotive chips. - SiEngine High confidence
SiEngine (ECARX/Xingji-Meizu JV) licensed FlexNoC for its next-generation automotive cockpit/ADAS SoC platform (June 2026, repeat customer).Confirms EN GlobeNewswire Published Jun 24, 2026: Arteris technology licensed by SiEngine for next-gen automotive SoCs - Samsung Electronics Medium confidence
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.
Pays to
- R&D · EDA (undisclosed) Low confidence
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). - Personnel · operations (undisclosed) Low confidence
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).
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 |
|---|---|---|---|---|---|---|---|
| Marvell | lead2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| ASUSTeK Computer | lead2 | +35.5 | -12.9 | +72 | +41.1 | -14.1 | +119.8 |
| Hewlett Packard Enterprise | lead2 | +37.4 | +4.5 | +9.7 | +29.1 | +15.5 | +118.5 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Apple | lead2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +18 |
| Microsoft | lead2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Broadcom | lead2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +3.8 |
| Qualcomm | lead2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +0.2 |
| Meta Platforms | lead2 | +23.1 | -64.2 | +194.1 | +66 | +13.1 | -6.4 |
| Oracle | lead2 | +36.9 | -4.6 | +30.9 | +60 | +18.1 | -17.8 |
| AMD | lead1 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +123 |
| Samsung Electronics | lead1 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Infineon Technologies | lead1 | +10.4 | -8.6 | +3.4 | -4 | +31 | +37.7 |
| GigaDevice | lead1 | +7.3 | -17 | -45.1 | +103.8 | +147.9 | +18.3 |
| Arteris | node | · | -79.6 | +37 | +73 | +52.1 | +37.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Arteris operates across NoC interconnect IP, on-chip wiring. It stayed steadily positive in recent years and is +37.9% in 2026. The demand side (avg +59.7%) leads the stock (+37.9%), so customer moves come first here. Among connected nodes the furthest ahead is AMD (+123%) and the furthest behind is GigaDevice (+18.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. An IP layer handling on-SoC wiring beside Arm and Synopsys.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target $38 · Price $21.37 (09-04) · Upside +78%