Transcend Information reported consolidated revenue of NT$2.33 billion (US$71.05 million) for the second quarter of 2024, a 14.7% decrease from the previous quarter and a 5.6% decrease year-on-year. The company also posted a net profit of NT$716 million, down 11.3% from the first quarter.
Protect AI Inc., a security and artificial intelligence startup, has raised US$60 million from investors betting that the intersection of AI and security will be big business.
Compound semiconductor epitaxial wafer (epi-wafer) manufacturer IQE is swiftly adjusting its global strategy by expanding outside its UK base in response to geopolitical volatility and supply chain restructuring. The company has also applied for government subsidies in the US and EU to increase its gallium nitride (GaN) capacity.
SK Hynix is set to showcase its latest advancements in its memory technologies and products at the upcoming Future Memory and Storage (FMS) 2024 event.
Silicon Motion Technology has reported revenues exceeding the top margin of its guidance, with gross margins also hitting the ceiling of its expectation range for the second quarter of 2024. The revenue amounted to approximately US$211 million in the second quarter, reflecting an 11% growth compared to the previous quarter and a significant 50% increase year-on-year. The gross margin for the quarter was 46%, and the net profit after tax was US$32.46 million.