Fab toolmaker All Ring Tech, which is reportedly involved in the supply chain for TSMC's chip-on-wafer-on-substrate (CoWoS) packaging, is expected to post significant revenue growth in 2024 as it begins fulfilling new orders for CoW and oS section equipment early next year, according to market sources.
All Ring has received more orders from TSMC, which is rapidly increasing CoWoS production capacity, the sources indicated. Currently, orders from the IC backend industry account for around 76% of All Ring's overall revenue, with ASE Technology being another key customer, the sources said.
All Ring contributes at least fifteen items to the CoWoS equipment supply chain, including automated machines, heat sink machines, AOI inspections, and dispensing machines, the sources said.
Recent reports indicate that TSMC's primary client will supply a 3nm GPU by 2024. Graphene will be utilized as the heat dissipation substance of the packaging, replacing conventional heat dissipation glue. Prominent orders for heat sink laminating machines have been received by All Ring, which plans to commence manufacturing in the first half of 2024, according to the sources.
While declining to comment on specific customers and orders, All Ring expressed optimism about its operations next year, citing customers' completion of inventory correction and strong demand for AI devices.
All Ring reported revenue hit a 13-month high of NT$117 million (US$3.7 million) in October. Revenue for the first 10 months of 2023 totaled NT$953 million, down 54.1% on year.
