Cohu secures $5M in orders for GaN power device testing as AI data centers drive demand

Cohu Lands $5M in Orders for AI Data Center Testing Equipment

Cohu Inc. announced it has secured multiple orders totaling approximately $5 million from a semiconductor manufacturer for its DiamondX testing platform, marking a significant push into the AI data centers market 1

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. The San Diego-based company, which supplies semiconductor manufacturing equipment to the semiconductor industry, will deploy these systems specifically for development and manufacturing of GaN power devices intended for AI data center power architectures 1

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. The unnamed semiconductor manufacturer's investment signals growing industry recognition of gallium nitride technology's role in next-generation power management solutions.

DiamondX Testing Platform Targets Power Conversion Applications

The DiamondX testing platform delivers high-current capability, ultra-low resistance measurement accuracy, and multi-site throughput, positioning it as a critical tool for testing next-generation GaN power devices 1

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. These test configurations support both characterization and production testing of GaN devices used in AC-DC conversion, high-voltage DC-DC modules, and power management integrated circuits. Cohu's solutions consist primarily of two platforms for the system-on-chip market: the Diamondx tester and PAx testers, alongside interface products, inspection metrology, and data analytics software 2

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. The company's automated test equipment is used for both wafer level testing and device package testing, providing comprehensive coverage across the manufacturing process.

AI Infrastructure Demands Drive GaN Device Adoption

"AI data centers are fundamentally changing the performance requirements for power semiconductors," said Luis Müller, Cohu President and CEO 1

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. Müller emphasized that GaN devices offer compelling efficiency and power density advantages, while the DiamondX platform enables customers to test accurately and economically at scale as they transition from device characterization to high-volume production. This shift reflects broader industry trends where AI workloads demand more efficient power conversion to manage the massive energy requirements of high-performance computing infrastructure. Cohu stated it continues to invest in power test architectures aligned with AI infrastructure requirements and industrial and automotive electrification markets 1

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Strong Stock Performance Despite Recent Losses

With a market capitalization of $2.42 billion, Cohu's stock has surged 191% over the past year and is currently trading near its 52-week high of $52.43 1

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. This strong performance comes despite the company posting a loss of $1.19 per share over the last twelve months. However, analysts predict a return to profitability this year with earnings forecast at $0.61 per share 1

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. The company holds more cash than debt on its balance sheet, providing financial flexibility as it pursues growth opportunities. Cohu reported revenue of $481 million over the last twelve months, representing 23% year-over-year growth, and provided guidance for the second quarter of 2026 projecting revenue of $144.0 million, indicating a 15% sequential increase 1

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. Analysts from Stifel, Needham, and Jefferies have responded positively, with Jefferies raising its price target to $60, noting momentum in AI and high-performance computing test infrastructure. The company has projected significant year-over-year growth of 20% to 25% for calendar year 2026, suggesting sustained demand for its testing solutions as the AI infrastructure buildout accelerates. Founded in 1947, Cohu also provides handlers, test contactors, probe heads, and probe pins as part of its comprehensive portfolio serving the semiconductor industry 2

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