IQE plc secured a $14 million multi-year production order from a strategic global technology customer. The British semiconductor wafer manufacturer will fulfill the contract at its facility in Newport.
The order targets applications within the artificial intelligence and datacenter markets. These sectors require advanced storage technologies to support hyperscale infrastructure and rapid data generation.
IQE is also collaborating with the customer to develop next-generation technologies. Company shares rose 6.3% on Tuesday following the announcement.