Besi shares gain more than 10 per cent as Applied Materials plans larger stake
Applied Materials plans to raise its holding to about 20 per cent from 9 per cent, with delivery of the additional shares subject to a US antitrust review.
Shares in Dutch semiconductor equipment maker BE Semiconductor Industries (Besi) traded above €160 by early afternoon on 27 October, gaining more than 10 per cent after Applied Materials announced plans to increase its investment.
Applied said it had entered an accelerated share purchase agreement that would lift its stake to about 20 per cent. The California-based company has held 9 per cent since April 2025. Delivery of the additional shares depends on a review under US antitrust law.
The company described the holding as a long-term investment, saying it did not currently intend to go beyond approximately 20 per cent or seek board representation at Besi.
Prabu Raja, president of Applied's semiconductor products group, linked the increased investment to the growing importance of hybrid bonding and next-generation chip connections for energy-efficient AI computing. Hybrid bonding connects chips directly without tiny solder bumps, enabling tighter stacking.
The two companies began collaborating on hybrid bonding in 2020. On 1 October, they announced an expansion into other packaging technologies, with Besi joining Applied's EPIC Center research and development hub in Silicon Valley as an innovation partner.
Despite the latest gain, Besi shares have lost about half their value since reaching a €317 peak in June, amid a broader decline in chip stocks.
