{"slug":"keysight","name":"Keysight","name_en":"Keysight Technologies","ticker":"KEYS","updated_at":"2026-07-12T04:04:25.875+00:00","canonical":"https://valuechain.wiki/keysight","same_as":["https://finance.yahoo.com/quote/KEYS","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1601046"],"citable":"밸류체인 그래프 기준 Keysight의 직접 연결 기업은 2곳(관계 기준 공급 0·매출 2)이고, 사슬을 2차까지 넓히면 9곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Keysight Technologies is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 9 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"뉴욕증시 · 전자 계측·검증 1위 · AI 인프라 검증","kicker_en":"NYSE · #1 electronic test & measurement · AI-infra validation","lead":"전자 설계·검증 계측 1위. 칩·네트워크·통신을 측정·검증하며 AI 데이터센터·차세대 반도체·5G/6G·방산이 성장축. FY2025 매출 $53.8억(+8%), 통신 부문(CSG)이 AI 인프라로 두 자릿수 성장. R&D 연 $10억.","lead_en":"The leader in electronic-design test and measurement. It measures and validates chips, networks and comms, with AI datacenters, next-gen semiconductors, 5G/6G and defense as growth drivers. FY2025 revenue $5.38B (+8%); the Communications group grew double digits on AI infrastructure. ~$1B R&D.","segments":{"fy":2025,"parts":[{"desc":"칩·네트워크·통신 검증 — AI 인프라 수요로 두 자릿수 성장. 브로드컴 800G·엔비디아 AI 패브릭 검증.","name":"통신 계측(CSG)"},{"desc":"차세대 반도체·일반 전자·방산 계측.","name":"전자·반도체 계측(EISG)"}],"total":"FY2025 매출 $5.38B (+8%)","concentration":"AI·반도체·통신 계측 수요 견인."},"segments_en":{"fy":2025,"parts":[{"desc":"Chip/network/comms validation — double-digit growth on AI-infra demand; validates Broadcom 800G and NVIDIA AI fabric.","name":"Communications (CSG)"},{"desc":"Next-gen semiconductor, general-electronics and defense test.","name":"Electronic/semi (EISG)"}],"total":"FY2025 revenue $5.38B (+8%)","concentration":"AI/semi/comms test demand."},"returns_yearly":{"2021":56.3,"2022":-17.2,"2023":-7,"2024":1,"2025":26.5,"2026":58.5},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"planet-labs","name":"플래닛랩스","name_en":"Planet Labs","tier":3,"returns_yearly":{"2022":-29.3,"2023":-43.2,"2024":63.6,"2025":388.1,"2026":32.1}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"costco","name":"Costco Wholesale","name_en":"Costco Wholesale","tier":3,"returns_yearly":{"2021":51.8,"2022":-19,"2023":49,"2024":39.6,"2025":-5.4,"2026":6.6}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":3,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":6.3}},{"slug":"procter-gamble","name":"Procter & Gamble","name_en":"Procter & Gamble","tier":3,"returns_yearly":{"2021":20.5,"2022":-5,"2023":-0.9,"2024":17.3,"2025":-12.3,"2026":4.1}},{"slug":"walmart","name":"Walmart Inc","name_en":"Walmart Inc","tier":3,"returns_yearly":{"2021":2,"2022":-0.5,"2023":12.9,"2024":74,"2025":24.5,"2026":2.6}},{"slug":"mercadolibre","name":"MercadoLibre","name_en":"MercadoLibre, Inc.","tier":3,"returns_yearly":{"2021":-19.5,"2022":-37.2,"2023":85.7,"2024":8.2,"2025":18.5,"2026":-8}},{"slug":"uber","name":"Uber","name_en":"Uber","tier":3,"returns_yearly":{"2021":-17.8,"2022":-41,"2023":149,"2024":-2,"2025":35.5,"2026":-8.8}},{"slug":"mcdonalds","name":"McDonald's","name_en":"McDonald's","tier":3,"returns_yearly":{"2021":27.8,"2022":0.5,"2023":15.1,"2024":0.1,"2025":7.9,"2026":-9}},{"slug":"lvmh","name":"LVMH","name_en":"LVMH Moet Hennessy Louis Vuitton","tier":3,"returns_yearly":{"2021":46.6,"2022":12.7,"2023":-1.8,"2024":-7.3,"2025":-20.4,"2026":-9}},{"slug":"recursion","name":"Recursion Pharmaceuticals","name_en":"Recursion Pharmaceuticals","tier":3,"returns_yearly":{"2022":-55,"2023":27.9,"2024":-31.4,"2025":-39.5,"2026":-13}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":-20}},{"slug":"shopify","name":"Shopify","name_en":"Shopify","tier":3,"returns_yearly":{"2021":21.7,"2022":-74.8,"2023":124.4,"2024":36.5,"2025":51.4,"2026":-23.9}},{"slug":"eoptolink","name":"Eoptolink","name_en":"Eoptolink","tier":2,"returns_yearly":{"2021":-10.1,"2022":-27.7,"2023":136.6,"2024":197,"2025":368.8,"2026":74.9}},{"slug":"arista","name":"Arista Networks","name_en":"Arista Networks","tier":2,"returns_yearly":{"2021":97.9,"2022":-15.6,"2023":94.1,"2024":87.7,"2025":18.5,"2026":42.7}},{"slug":"apple","name":"Apple","name_en":"Apple","tier":2,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":2,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"meta","name":"메타 플랫폼스","name_en":"Meta Platforms","tier":2,"returns_yearly":{"2021":23.1,"2022":-64.2,"2023":194.1,"2024":66,"2025":13.1,"2026":1.6}},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":2,"returns_yearly":null},{"slug":"openai","name":"OpenAI","name_en":"OpenAI","tier":2,"returns_yearly":null},{"slug":"broadcom","name":"Broadcom","name_en":"Broadcom","tier":1,"returns_yearly":{"2021":56.5,"2022":-13.3,"2023":104.2,"2024":110.5,"2025":50.6,"2026":16}}],"benefiting":[],"analysis":"전자 설계·검증 계측 1위 기업으로, 칩·네트워크·통신을 측정·검증하는 '설계의 관문'에 위치해 특정 고객보다 기술 세대 전환에 실적이 연동된다. FY2025 매출 $53.8억(+8%)에서 통신 부문(CSG)이 AI 인프라 수요로 두 자릿수 성장했고, 브로드컴 800G 울트라이더넷·엔비디아 AI 패브릭 검증처럼 AI 데이터센터 고속 인터커넥트 검증이 신성장축이다. 리스크는 반도체·통신 R&D 투자 사이클에 계측 수요가 연동된다는 점이며, 연 $10억 R&D로 5G/6G·차세대 반도체 계측 리더십을 방어한다. 그래프상 이 노드는 칩·네트워크 설계자 전반의 공통 검증 상류에 위치해, AI·통신 설계 활동의 파급이 수렴한다.","analysis_en":"The #1 electronic-design test-and-measurement firm, positioned at the 'gateway of design' measuring and validating chips, networks and comms, so results track technology-generation shifts more than any single customer. In FY2025 revenue of $5.38B (+8%), the Communications group grew double digits on AI-infrastructure demand, and AI-datacenter high-speed interconnect validation — e.g. Broadcom 800G Ultra Ethernet and NVIDIA AI-fabric validation — is a new growth axis. The risk is that test demand tracks the semiconductor/comms R&D investment cycle, defended by ~$1B/yr R&D sustaining 5G/6G and next-gen semiconductor test leadership. On the graph, this node sits upstream of nearly all chip and network designers as a common validation gate where AI/comms design activity converges.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"반도체·네트워킹·통신 (계측)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue","unit":"USD","basis":"FY2025 매출(+8%)","value":5375000000,"period":"2025","basis_en":"FY2025 revenue (+8%)","qualifier":"approx"},"note":"칩·네트워크·통신 설계자에 계측·검증 장비 공급.","note_en":"Supplies test/validation to chip, network and comms designers.","sources":[{"stance":"confirms","publisher":"Keysight","publisher_en":"Keysight","kind":"ir","lang":"ko","published_at":"2026-01-01","url":"https://www.keysight.com/kr/ko/home.html","title":"키사이트 테크놀로지스 코리아(계측)","title_en":"Keysight Technologies Korea (test & measurement)","excerpt":"AI 데이터센터·차세대 반도체·5G/6G 계측 수요.","excerpt_en":"AI-datacenter, next-gen semi and 5G/6G test demand."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-24","url":"https://www.sec.gov/Archives/edgar/data/0001601046/000160104625000121/exhibit991-q425pressrelease.htm","title":"Keysight FY2025 실적(8-K)","title_en":"Keysight FY2025 results (8-K)","excerpt":"FY2025 매출 $53.8억(+8%), 통신 부문 두 자릿수 성장.","excerpt_en":"FY2025 revenue $5.38B (+8%); Communications grew double digits."}]},{"direction":"revenue","counterparty":"방산·일반 전자 (계측)","counterparty_slug":null,"confidence":"mid","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"방산 현대화·일반 전자 계측.","note_en":"Defense modernization and general-electronics test.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-24","url":"https://www.sec.gov/Archives/edgar/data/0001601046/000160104625000121/exhibit991-q425pressrelease.htm","title":"Keysight FY2025 실적(8-K)","title_en":"Keysight FY2025 results (8-K)","excerpt":"방산·일반전자도 성장.","excerpt_en":"Defense and general electronics also grow."}]},{"direction":"revenue","counterparty":"Broadcom","counterparty_slug":"broadcom","confidence":"mid","metric":null,"note":"Broadcom 800G Ultra Ethernet 칩 검증·계측 공급.","note_en":"Supplies validation/test for Broadcom 800G Ultra Ethernet.","sources":[{"stance":"confirms","publisher":"Converge Digest","publisher_en":"Converge Digest","kind":"news","lang":"en","published_at":"2025-01-01","url":"https://convergedigest.com/keysight-broadcom-validate-800g-ultra-ethernet/","title":"Keysight·Broadcom 800G Ultra Ethernet 검증","title_en":"Keysight and Broadcom validate 800G Ultra Ethernet","excerpt":"Broadcom 800G Ultra Ethernet 칩 검증·계측 공급.","excerpt_en":"Supplies validation/test for Broadcom 800G Ultra Ethernet."}]},{"direction":"revenue","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"mid","metric":null,"note":"엔비디아 AI 패브릭·고속 인터커넥트 검증 계측.","note_en":"Test/validation for NVIDIA AI fabric and high-speed interconnects.","sources":[{"stance":"confirms","publisher":"Keysight","publisher_en":"Keysight","kind":"news","lang":"en","published_at":"2025-04-01","url":"https://www.keysight.com/us/en/about/newsroom/news-releases/2025/0401-pr25-052-keysight-unveils-architecture-for-scaling-ai-data-centers.html","title":"Keysight KAI AI 데이터센터 검증 아키텍처","title_en":"Keysight KAI architecture for scaling AI datacenters","excerpt":"엔비디아 AI 패브릭·고속 인터커넥트 검증 계측.","excerpt_en":"Test/validation for NVIDIA AI fabric and high-speed interconnects."}]},{"direction":"cost","counterparty":"제조·부품 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"계측장비 제조·부품.","note_en":"Instrument manufacturing and parts.","sources":[{"stance":"confirms","publisher":"Keysight","publisher_en":"Keysight","kind":"ir","lang":"ko","published_at":"2026-01-01","url":"https://www.keysight.com/kr/ko/home.html","title":"키사이트 테크놀로지스 코리아(계측)","title_en":"Keysight Technologies Korea (test & measurement)","excerpt":"계측 장비 제조.","excerpt_en":"Instrument manufacturing."}]},{"direction":"cost","counterparty":"부품·SW·R&D (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"계측 SW·부품·R&D($10억).","note_en":"Test software, parts and R&D ($1B).","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-24","url":"https://www.sec.gov/Archives/edgar/data/0001601046/000160104625000121/exhibit991-q425pressrelease.htm","title":"Keysight FY2025 실적(8-K)","title_en":"Keysight FY2025 results (8-K)","excerpt":"연 $10억 R&D.","excerpt_en":"~$1B annual R&D."}]}]}