ASMPT Limited just locked in another order for eight Thermo-Compression Bonding tools from one of the world’s largest chip manufacturers. The deal, announced on June 8, covers chip-to-wafer configurations used to build next-generation CPUs with chiplet-based architectures.

This isn’t a one-off win. ASMPT secured two separate orders in late 2025, totaling 34 chip-to-substrate TCB tools dedicated specifically to AI chip manufacturing. The company now holds sole-supplier status, known in the industry as Process of Record, for multiple programs across AI chips and high-bandwidth memory stacking.

Why TCB tools matter more than you think

ASMPT’s installed base now exceeds 500 TCB tools worldwide. The company commands an estimated 35-40% market share in advanced packaging. Group CEO Robin Ng has projected that the total addressable market for TCB technology will exceed $1 billion by 2027, driven almost entirely by artificial intelligence and high-performance computing.

The AI packaging arms race

On December 3, 2025, ASMPT received an order for 19 chip-to-substrate TCB tools. Less than three weeks later, on December 22, another 15 tools followed. Both were earmarked for AI chip production. Now, six months later, the same playbook is repeating with chip-to-wafer tools for CPU manufacturing.

Beyond bonding chips to substrates and wafers, ASMPT has been advancing its capabilities in high-bandwidth memory stacking. The company’s fluxless Active Oxide Removal technology, first demonstrated for HBM 16H stacks in December 2024, represents a technical capability for stacking 16 layers of HBM dies cleanly and reliably.

What this means for investors

The projected $1 billion TAM for TCB technology by 2027 provides a useful benchmark. If ASMPT maintains even its current market share, that translates to $350-400 million in TCB-related revenue from a single product category.