Veeco Announces Over $50 Million in Wet Processing System Orders Supporting Advanced Packaging for AI

Rhea-AI Summary

Veeco Instruments (NASDAQ: VECO) has secured over $50 million in orders for its WaferStorm® system in 2024, with deliveries extending into first half of 2025. The orders are driven by AI-related Advanced Packaging demands from a leading foundry, HBM manufacturer, and OSATs. The company's Wet Processing business is experiencing year-over-year growth and expects continued expansion in 2025. The WaferStorm system, featuring proprietary ImmJET™ solvent technology, provides solutions for flux cleaning, photoresist strip, and other advanced packaging processes.

Positive

• Secured over $50 million in new orders for WaferStorm® system
• Year-over-year growth in Wet Processing business
• Expected growth continuation in AI-related business for 2025
• Orders from major industry players (leading foundry, HBM manufacturer, OSATs)

Negative

• None.

Wet Processing business delivering year-over-year growth in Advanced Packaging, driven by a leading foundry, HBM manufacturer, and OSAT’s

PLAINVIEW, N.Y., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced it’s received over $50 million of orders in 2024 for its WaferStorm® system for Advanced Packaging driven by AI. Scheduled deliveries for the most recent orders are extending into the first half of 2025.

Veeco’s Wet Processing business is delivering year-over-year growth primarily driven by capacity expansions by a leading foundry, HBM manufacturer and OSAT’s to meet growing demand from AI. Based on recent order activity, Veeco expects growth in its Wet Processing business for AI in 2025.

“We’re excited to see leading customers choose our wet processing technology for leading edge applications such as high-performance computing and high-bandwidth memory,” commented Adrian Devasahayam, Ph.D., Senior Vice President, Product Line Management. "Our wet processing systems are critical for the most advanced heterogenous and 3D packaging schemes primarily due to our proprietary ImmJET™ solvent technology. Veeco has been working collaboratively with our customers for a number of years to enable cost-effective and high-performance solutions for their roadmaps."

WaferStorm’s unique ImmJET™ solvent technology provides customers with the best overall process performance, flexibility and production capability in its class compared to conventional batch or spray-only approaches. WaferStorm offers proven, reliable solutions for flux cleaning, photoresist strip, dry film resist strip, via cleans and other advanced packaging processes.

About Veeco
Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2023 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

Veeco Contacts:                                
Investors: Anthony Pappone | (516) 500-8798 | apappone@veeco.com
Media: Brenden Wright | (410) 984-2610 | bwright@veeco.com

FAQ

What is the value of Veeco's (VECO) recent WaferStorm system orders in 2024?

Veeco (VECO) received over $50 million in orders for its WaferStorm system in 2024.

When will Veeco (VECO) deliver the recent WaferStorm system orders?

Deliveries for the most recent orders are scheduled to extend into the first half of 2025.

What is driving the growth in Veeco's (VECO) Wet Processing business?

The growth is primarily driven by capacity expansions from a leading foundry, HBM manufacturer, and OSATs to meet growing demand from AI applications.

What technologies does Veeco's (VECO) WaferStorm system use for advanced packaging?

The WaferStorm system uses proprietary ImmJET™ solvent technology for advanced packaging processes including flux cleaning, photoresist strip, and via cleans.