Soitec shares jumped more than 22% on Thursday. The semiconductor materials supplier reported first-quarter revenue of €113 million. This figure represents a 23% year-over-year increase. The results surpassed both internal guidance and analyst expectations.
Accelerating demand for Photonics-SOI substrates used in AI data centers drove the performance. The company expects second-quarter revenue to grow by more than 30% year-on-year. This forecast significantly exceeds the 4% growth previously anticipated by analysts.
Soitec projects its Photonics-SOI revenue will more than double by fiscal year 2027. This target follows the approximately $100 million generated in fiscal 2026. Sustained demand in the AI market remains the primary driver for this growth.