● Covered by 1 source · 1 reportLow impact1 neutral
PieceMakers, a DRAM designer, begins trading on Taiwan's Emerging Stock Board
Key points
- PieceMakers started trading on Taiwan's Emerging Stock Board at NT$740 reference price.
- The company is valued at around $1.4 billion with 60.4 million shares outstanding.
- PieceMakers specializes in custom memory designs for AI inference, not HBM.
- AI custom design revenue is projected to reach 40% by mid-2026.
Market Debut and Valuation
PieceMakers, a DRAM designer, commenced trading on Taiwan's Emerging Stock Board on September 16. The reference price was NT$740, and the stock closed its first session at NT$915, a 23.6% increase. With approximately 60.4 million shares outstanding, the company's valuation is around NT$44.7 billion, or about $1.4 billion.
Focus on AI Inference Memory
PieceMakers is not an HBM company; instead, it focuses on memory solutions for AI inference. President Lee Hsiao-wen stated that the company believes inference memory will diverge from training memory. Their approach involves directly stacking DRAM on the processor using hybrid bonding, positioning it as an alternative to HBM.
Business Model Shift and Revenue Growth
Historically, PieceMakers designed standard SDR/DDR DRAM. The company is transitioning its business model from direct product sales to custom design services, paid as non-recurring engineering (NRE) fees. Revenue from AI custom design work is projected to increase from 4% in 2024 to nearly 40% in the first half of 2026. The company plans to move towards IP licensing, royalties, and turnkey production from 2027.
Key Products and Customer Base
The company's key products include HBLL (High Bandwidth, Low Latency RAM), a 2D die, and HiBaLL, a 3D-stacked version. PieceMakers describes its customers as developers of cloud AI inference accelerators, international semiconductor players, and North American customers. Nanya Technology is the largest shareholder, holding 33.96% of PieceMakers.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
PieceMakers, a DRAM designer backed by Nanya Technology, began trading on Taiwan's Emerging Stock Board, valuing the company at approximately $1.4 billion. The company focuses on custom memory designs for AI inference, proposing an alternative to HBM by directly stacking DRAM on processors using hybrid bonding.