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On August 25, 2023, Aehr Test Systems (NASDAQ: AEHR) experienced a nearly 36% surge in shares following the announcement of a follow-on order for six Sonoma “ultra-high-power packaged part burn-in systems” from a major AI hyperscaler. This order indicates the effectiveness of Aehr’s technology in quality control for custom AI chips, critical for maintaining reliability in hyperscale data centers.
Aehr’s Sonoma system is pivotal for identifying defective chips that could fail once deployed, minimizing costly disruptions. With robust investment in AI infrastructure and demand for application-specific integrated circuits (ASICs), Aehr’s role becomes increasingly vital. The firm is also pursuing revenue opportunities at the wafer fabrication stage, as indicated by a recent evaluation order for its FOX-XP system.
Aehr currently trades at a forward price-to-earnings ratio of around 222x, though its price-to-sales ratio stands at 13x after a notable 89% increase in stock value over the past year. The company’s growth potential remains significant, especially given its current engagement with just one hyperscaler while numerous others are exploring ASICs.
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