Semiconductor IP
ModerateLicensable CPU, GPU, interconnect, and memory-controller architectures used as building blocks for custom silicon.
As hyperscalers build their own chips, licensable IP becomes the tax that everyone pays. Custom AI silicon almost always embeds licensed cores or interconnects.
Companies
6
6 pub · 0 priv
Public mcap
$1.26T
Public revenue
$57.63B
Wtd YoY
36%
Wtd GM
69%
Wtd OM
19%
Avg fund
74
Avg tech
71
Market structure
Current TAM
$7.00B
5y TAM
$15.00B
5y CAGR
16.0%
Companies
6
Margin structure
Software-like
Concentration
Concentrated
Capex intensity
Low
Commoditization
Medium
Drivers
What grows the pie
- ↑Hyperscaler ASICs
- ↑Edge AI proliferation
- ↑Auto compute
Constraints
What can break the thesis
- ↓Customer concentration risk
- ↓Open-source ISA pressure (RISC-V)
Upstream dependencies
Downstream consumers
Companies in Semi IP
Ranked by composite score| Company | Mkt Cap | Growth | FCF% | Val | 1Y | Tech | Fund | AI | Score | View |
|---|---|---|---|---|---|---|---|---|---|---|
| SNPSSynopsys | $95.58B | 65.5% | 38.7% | 29x | 55 | 74 | 78 | 70 | Strategic Compounder | |
| CDNSCadence Design Systems | $96.78B | 18.7% | 27.1% | 37x | 54 | 75 | 76 | 67 | Strategic Compounder | |
| AMDAMDSA Put | $729.82B | 37.8% | 19.2% | 35x | 82 | 73 | 88 | 65 | High-growth Infrastructure Bet | |
| ALABAstera Labs | $49.28B | 93.4% | 24.0% | 68x | 71 | 78 | 80 | 65 | Overextended Momentum Trade | |
| ARMArm Holdings | $273.16B | 20.1% | 15.7% | 84x | 81 | 72 | 80 | 63 | Overextended Momentum Trade | |
| RMBSRambus | $14.44B | 8.1% | 34.6% | 37x | 81 | 72 | 62 | 62 | High-growth Infrastructure Bet |