British chip maker IQE reports first-half core profit of £6 million, guided for AI data centre growth
Wales-based company IQE swung to a profit in the first half of the year driven by demand for indium phosphide used in laser technology for AI data centres. Management raised its annual revenue guidance and plans to list shares on the London Main Market.
British chip components manufacturer IQE posted a core profit of £6 million (£8.11 million) for the six months ended June 30, according to financial results released Monday. This result marks a sharp turnaround from a prior-year loss of £0.4 million. Demand from artificial intelligence infrastructure, data centres, and defence customers supported the growth despite earlier headwinds from U.S. tariffs and an electronics market slowdown. IQE supplies epitaxy for wafers that become lasers deployed in data centre systems. Management stated positive momentum extended into the second half after first-half performance exceeded expectations. In July, the company raised its annual revenue guidance. CEO Jutta Meier confirmed plans to seek admission of shares on London's Main Market, targeting completion in the first half of 2027. The firm intends to expand manufacturing capacity for indium phosphide across its sites to address current supply bottlenecks.
