SINGAPORE: Semiconductor equipment maker Grand Venture Technology Ltd (GVT) is trying to turn the world’s hunger for advanced memory chips into a chance to become a major supplier, as giants from Micron Technology Inc to Infineon Technologies AG build new factories in Asia.
Demand for artificial intelligence (AI) chips is set to grow in the coming years as health care, education and financial sectors adopt more services from AI agents such as Microsoft Corp’s Copilot, said Singapore-based GVT chief executive officer Julian Ng.
That’s a boon for up-and-coming equipment suppliers such as GVT, as chipmakers need to invest in their production systems.
Those saying AI is a bubble are wrong because many industries are yet to adopt the technology, he said.
While still a niche player in the chip ecosystem, GVT has tripled its annual revenue – and stock price – since its 2019 stock market debut in Singapore.
It’s benefited from the industry’s growth in Asia, selling chipmaking tools for factories from Malaysia to China.
Asia will remain the primary location for the global chip supply chain despite efforts from the United States and Europe to build chip plants on their home turf, according to Ng
“Moving back will not be that straightforward, because you will need years of qualification and understanding where your ecosystem is,” he said. — Bloomberg
