What are the most valued startups in the semiconductor industry?

Last updated: 9 June 2026

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The semiconductor industry has become one of the most important technology markets in the world, with startups and public challengers building chips, memory, foundry capacity, AI accelerators, photonic interconnects, sensors and power semiconductors.

This list ranks the top startups and growth companies in the semiconductor industry by valuation, using the latest reported or estimated data available in our database.

We update this list every month, so the ranking can reflect new funding rounds, public-market moves, acquisitions and fresh valuation signals.

And if you want to better understand this new industry, you can download our pitch covering the semiconductor industry.

A quick summary table

Metric Value
Most valuable semiconductor startup Kioxia, $266.2B
Second most valuable semiconductor startup Cambricon, $115.7B
Median semiconductor valuation $1.95B
Share of total semiconductor valuation captured by the top 10 About 67%
Top semiconductor startup valuation vs. median About 137x
Median semiconductor valuation-to-capital-raised ratio About 4.8x
Semiconductor startups valued at $1B+ 65
Market map chart showing top companies and startups in the semiconductor industry

This market map, featured in our semiconductor industry deck, highlights top companies and startups in the semiconductor industry

Top startups in the semiconductor industry ranked by valuation

Here is an updated table that ranks the top startups in the semiconductor industry based on their latest reported or estimated valuations.

If you want more detaild about their fundraising activity, you can check our list of the startups who have raised the most funding in the semiconductor industry.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Kioxia NAND flash memory $266.2B Full Confidence Public Market Cap Observed $184M Strong Confidence
2 Cambricon AI accelerator chips $115.7B Full Confidence Public Market Cap Observed $1.0B+ Partial Confidence
3 Astera Labs AI connectivity chips $62.7B Full Confidence Public Market Cap Observed $943M Partial Confidence
4 Cerebras Systems Wafer-scale AI chips $52.2B Full Confidence Public Market Cap Observed $9.3B Strong Confidence
5 GigaDevice Flash memory and MCUs $49.5B Full Confidence Public Market Cap Observed $1.3B Strong Confidence
6 Montage Technology Memory interface chips $43.6B Full Confidence Public Market Cap Observed $1.4B Strong Confidence
7 GlobalFoundries Contract chip foundry $42.6B Full Confidence Public Market Cap Observed $2.1B Partial Confidence
8 Moore Threads China GPU chips $42.1B Full Confidence Public Market Cap Observed $1.7B Partial Confidence
9 MetaX Integrated Circuits AI GPU chips $40.9B Full Confidence Public Market Cap Observed $900M+ Partial Confidence
10 Hua Hong Semiconductor Specialty wafer foundry $38.5B Full Confidence Public Market Cap Observed $3.3B Strong Confidence
11 ChangXin Memory Technologies DRAM memory manufacturer $28B–$44B Partial Confidence IPO or Listing Range Valuation Estimated $5.0B Strong Confidence
12 Yangtze Memory Technologies 3D NAND memory manufacturer $24B–$42B Partial Confidence IPO or Listing Range Valuation Estimated $25.3B Partial Confidence
13 Tower Semiconductor Specialty analog foundry $26.9B Full Confidence Public Market Cap Observed $83M Partial Confidence
14 OmniVision Technologies CMOS image sensors $18.7B Full Confidence Public Market Cap Observed $681M Partial Confidence
15 Biren Technology AI GPGPU accelerators $17.8B Full Confidence Public Market Cap Observed $1.5B Partial Confidence
16 Iluvatar CoreX AI GPUs and accelerators $15.0B Full Confidence Public Market Cap Observed $1.2B+ Partial Confidence
17 Nexchip 12-inch wafer foundry $11.8B Full Confidence Public Market Cap Observed $1.7B Partial Confidence
18 Rockchip Multimedia processor SoCs $10.7B Full Confidence Public Market Cap Observed $58M Partial Confidence
19 Unisoc Mobile connectivity chipsets $9.7B–$11.0B Partial Confidence Active Raise Valuation Estimated $1.9B Partial Confidence
20 Powerchip Semiconductor Manufacturing Taiwan memory foundry $10.1B Full Confidence Public Market Cap Observed $690M Strong Confidence
21 Vanguard International Semiconductor Specialty wafer foundry $9.6B Full Confidence Public Market Cap Observed Not provided Low Confidence
22 Phytium Technology Domestic CPU chips $7B–$12B Low Confidence Proxy-Based Estimate Estimated $12M Low Confidence
23 Horizon Robotics Smart-vehicle AI chips $9.4B Full Confidence Public Market Cap Observed $3.7B Partial Confidence
24 Loongson Technology Domestic CPU processors $8.3B Full Confidence Public Market Cap Observed $367M Partial Confidence
25 Innoscience GaN power semiconductors $7.9B Full Confidence Public Market Cap Observed $315M Partial Confidence
26 Groq AI inference processors $6.8B–$7.1B Strong Confidence Announced Private Round Valuation Observed $1.8B Strong Confidence
27 Ampere Computing Arm server CPUs $6.5B Full Confidence Acquisition Value Observed $426M Partial Confidence
28 ASR Microelectronics Wireless communication SoCs $6.1B Full Confidence Public Market Cap Observed $1.4B Partial Confidence
29 Amlogic Multimedia SoC chips $5.6B Full Confidence Public Market Cap Observed $375M Partial Confidence
30 Navitas Semiconductor GaN/SiC power semiconductors $5.6B Full Confidence Public Market Cap Observed $550M Partial Confidence
31 GalaxyCore Image sensor chips $5.0B Full Confidence Public Market Cap Observed $556M Strong Confidence
32 Allwinner Technology Application processor SoCs $4.8B Full Confidence Public Market Cap Observed $82M Low Confidence
33 Lightmatter Photonic AI interconnects $4.0B–$5.5B Strong Confidence Announced Private Round Valuation Estimated $822M Strong Confidence
34 MatX LLM AI chips $3.5B–$5.5B Partial Confidence Implied Valuation from Raise Implied $605M Strong Confidence
35 GTA Semiconductor Automotive analog IC foundry $3.8B–$5.0B Partial Confidence Proxy-Based Estimate Estimated $3.1B Strong Confidence
36 DB HiTek Analog specialty foundry $4.0B Full Confidence Public Market Cap Observed Not provided Low Confidence
37 Espressif Systems Wi-Fi Bluetooth IoT chips $3.9B Full Confidence Public Market Cap Observed $185M Partial Confidence
38 Ayar Labs Optical AI chip interconnects $3.8B Full Confidence Announced Private Round Valuation Observed $870M Strong Confidence
39 Bestechnic Smart audio SoCs $3.8B Full Confidence Public Market Cap Observed $744M Partial Confidence
40 Goodix Technology Touch and biometric chips $3.6B Full Confidence Public Market Cap Observed $132M Partial Confidence
41 Tenstorrent AI and RISC-V chips $2.7B–$3.4B Partial Confidence Announced Private Round Valuation Estimated $1.2B Partial Confidence
42 Ambarella Edge AI video processors $3.0B Full Confidence Public Market Cap Observed $74M Partial Confidence
43 Celestial AI Photonic AI interconnects $2.3B–$3.2B Strong Confidence Announced Private Round Valuation Estimated $586M Strong Confidence
44 Axelera AI Edge AI accelerators $1.7B–$3.1B Partial Confidence Implied Valuation from Raise Implied $370M+ Strong Confidence
45 Rebellions AI inference chips $2.3B–$2.4B Strong Confidence Announced Private Round Valuation Observed $850M Strong Confidence
46 SemiDrive Automotive SoC chips $2.0B–$2.6B Partial Confidence Implied Valuation from Raise Implied $601M Partial Confidence
47 Rivos RISC-V AI servers $1.8B–$2.3B Partial Confidence Acquisition Value Estimated $370M Partial Confidence
48 d-Matrix Data-center inference chips $1.9B–$2.1B Strong Confidence Announced Private Round Valuation Observed $450M Partial Confidence
49 Tachyum Universal AI/HPC processor $1.5B–$2.4B Partial Confidence Implied Valuation from Raise Implied $300M+ Partial Confidence
50 Upscale AI AI networking infrastructure chips $1.8B–$2.1B Partial Confidence Active Raise Valuation Estimated $300M+ Strong Confidence
51 Zhaoxin Domestic CPU processors $1.7B–$2.2B Partial Confidence IPO or Listing Range Valuation Estimated Not provided Low Confidence
52 Ambiq Low-power edge AI chips $1.6B Full Confidence Public Market Cap Observed $481M Partial Confidence
53 X-FAB Silicon Foundries Mixed-signal specialty foundry $1.5B Full Confidence Public Market Cap Observed $266M Strong Confidence
54 Nuvia Arm server CPUs $1.4B Full Confidence Acquisition Value Observed $293M Full Confidence
55 Empower Semiconductor AI processor power delivery $0.9B–$1.8B Partial Confidence Implied Valuation from Raise Implied $215M Full Confidence
56 Black Sesame Technologies Autonomous-driving AI chips $1.3B Full Confidence Public Market Cap Observed $702M Partial Confidence
57 InvenSense MEMS motion sensors $1.25B–$1.35B Strong Confidence Acquisition Value Observed $113M Strong Confidence
58 Telink Semiconductor Wireless IoT chips $1.3B Full Confidence Public Market Cap Observed $231M Partial Confidence
59 Calterah Semiconductor Millimeter-wave radar chips $1.0B–$1.5B Partial Confidence Implied Valuation from Raise Implied $300M+ Low Confidence
60 Gowin Semiconductor FPGA devices $0.9B–$1.6B Low Confidence Comparables-Based Estimate Estimated $132M Strong Confidence
61 Mythic Analog AI processors $830M–$1.6B Partial Confidence Implied Valuation from Raise Implied $290M Partial Confidence
62 Canaan ASIC bitcoin mining chips $1.2B Full Confidence Public Market Cap Observed $335M+ Partial Confidence
63 Positron AI AI inference hardware $1.0B–$1.2B Strong Confidence Announced Private Round Valuation Observed $305M Full Confidence
64 Innovium Cloud Ethernet switch silicon $1.0B–$1.2B Strong Confidence Acquisition Value Observed $350M Partial Confidence
65 Enfabrica AI networking silicon fabric $0.8B–$1.3B Partial Confidence Implied Valuation from Raise Implied $290M Partial Confidence
66 indie Semiconductor Automotive semiconductor platforms $925M Full Confidence Public Market Cap Observed $433M Partial Confidence
67 EnCharge AI Analog in-memory AI chips $650M–$1.2B Partial Confidence Implied Valuation from Raise Implied $144M Full Confidence
68 StarFive Technology RISC-V chip solutions $700M–$1.1B Low Confidence Comparables-Based Estimate Estimated $146M Partial Confidence
69 Kneron Edge AI NPU chips $700M–$1.0B Partial Confidence Active Raise Valuation Estimated $226M Partial Confidence
70 SiMa.ai Edge AI SoC platform $570M–$1.1B Partial Confidence Implied Valuation from Raise Implied $355M Partial Confidence
71 Hejian Technology China wafer foundry $700M–$850M Partial Confidence Acquisition Value Implied Not provided Low Confidence
72 Beken Wireless IoT chips $748M Full Confidence Public Market Cap Observed $96M Partial Confidence
73 FuriosaAI Datacenter AI accelerators $700M–$770M Strong Confidence Announced Private Round Valuation Observed $246M Partial Confidence
74 Retym Coherent DSP networking chips $500M–$940M Partial Confidence Implied Valuation from Raise Implied $180M Partial Confidence
75 Achronix Semiconductor AI FPGA and eFPGA IP $500M–$850M Partial Confidence Revenue or ARR Multiple Estimate Estimated $142M Partial Confidence
76 Morse Micro Wi-Fi HaLow IoT chips $390M–$740M Partial Confidence Implied Valuation from Raise Implied $208M Partial Confidence
77 Graphcore AI intelligence processors $500M–$600M Partial Confidence Acquisition Value Estimated $767M Partial Confidence
78 Aquantia Multi-gig Ethernet chips $500M–$560M Strong Confidence Acquisition Value Observed $270M Strong Confidence
79 Cornami Privacy computing processors $500M–$560M Partial Confidence Proxy-Based Estimate Estimated $236M Partial Confidence
80 EFFECT Photonics Coherent optical chips $410M–$620M Partial Confidence Implied Valuation from Raise Implied $174M Partial Confidence
81 pSemi RF front-end chips $471M Strong Confidence Acquisition Value Observed $255M Partial Confidence
82 Hailo Edge AI accelerators $400M–$500M Partial Confidence Active Raise Valuation Estimated $341M Strong Confidence
83 Atmosic Technologies Energy-harvesting IoT chips $270M–$500M Partial Confidence Implied Valuation from Raise Implied $162M Full Confidence
84 Annapurna Labs AWS infrastructure chips $350M–$400M Partial Confidence Acquisition Value Estimated $40M Low Confidence
85 Uhnder Digital imaging radar chips $250M–$500M Partial Confidence Implied Valuation from Raise Implied $195M Partial Confidence
86 Icera Mobile soft modem chipsets $367M Strong Confidence Acquisition Value Observed $270M Low Confidence
87 Alif Semiconductor AI-enabled microcontrollers $250M–$450M Low Confidence Comparables-Based Estimate Estimated $72M Strong Confidence
88 Kinara Edge AI neural processors $307M Full Confidence Acquisition Value Observed $54M Partial Confidence
89 Valens Semiconductor High-speed connectivity chips $237M Full Confidence Public Market Cap Observed $407M Partial Confidence
90 eSilicon ASIC design services $205M–$225M Strong Confidence Acquisition Value Observed $118M Partial Confidence
91 Blaize Edge AI compute chips $209M Full Confidence Public Market Cap Observed $272M Partial Confidence
92 Everactive Batteryless industrial IoT sensors $120M–$260M Low Confidence Proxy-Based Estimate Estimated $161M Partial Confidence
93 GreenWaves Technologies Low-power RISC-V AI chips $90M–$180M Low Confidence Comparables-Based Estimate Estimated $30M Partial Confidence
94 Rain AI Neuromorphic AI chips $50M–$150M Low Confidence Proxy-Based Estimate Estimated $38M Partial Confidence
95 Perceive Edge AI inference chips $80M Full Confidence Acquisition Value Observed Not provided Low Confidence
96 Flex Logix Embedded FPGA IP $40M–$120M Low Confidence Acquisition Value Estimated $82M Partial Confidence
97 Arbe Robotics 4D imaging radar chipsets $69M Full Confidence Public Market Cap Observed $255M Strong Confidence
98 GrAI Matter Labs Neuromorphic edge AI chips $40M–$90M Low Confidence Acquisition Value Estimated $29M Strong Confidence
99 Esperanto Technologies RISC-V AI chips $20M–$80M Low Confidence Acquisition Value Estimated $63M Partial Confidence
100 Untether AI At-memory AI accelerators $0M–$25M Low Confidence Acquisition Value Estimated $152M Partial Confidence
Chart comparing the 2026 size of the semiconductor industry with other markets of similar size

This chart, featured in our semiconductor industry deck, compares the 2026 size of the semiconductor industry with other markets of similar size

Key valuation trends in the semiconductor industry

Insights

  • The semiconductor industry is extremely concentrated, with the top 10 companies representing about 67% of the total valuation in this dataset.
  • Kioxia alone is worth about 137 times the median company in the ranking, which shows how memory-scale public listings can dominate the semiconductor valuation landscape.
  • AI compute companies such as Cerebras, Groq, Rebellions and Positron AI have raised about $12.3B combined, making frontier AI chips one of the most capital-intensive semiconductor categories.
  • Photonic AI infrastructure is now a major semiconductor theme, with Lightmatter, Ayar Labs and Celestial AI totaling roughly $11.3B in combined valuation.
  • Specialty and mixed-signal foundries remain durable infrastructure assets, with Hua Hong, Powerchip and X-FAB together representing about $50.1B in valuation.
  • Public semiconductor companies can be repriced sharply after listing, as Arbe Robotics shows with a $69M valuation against $255M in total funding.
Chart showing TSMC’s strategy in the semiconductor industry

This chart, featured in our semiconductor industry deck, looks at TSMC’s strategy in semiconductors

A few word about our methodology

As you can see, we built a database that ranks startups and growth companies in the semiconductor industry based on their current valuation.

Estimating semiconductor startup valuations is not always straightforward. Many chip companies do not publicly disclose their valuation, and the available information can vary widely depending on the company, its geography, its technology category and its stage.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed semiconductor companies, or official acquisition prices.

When a semiconductor company is publicly listed, we use its current market capitalization as the reference valuation.

If a company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a semiconductor startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.

In some cases, we also estimate valuations using operating metrics such as revenue, ARR, chip shipment volume, foundry capacity, design wins, customer traction or licensing activity, combined with valuation multiples from comparable companies in the same market.

When direct financial data is not available, we may rely on carefully selected comparable semiconductor startups and other signals such as hiring growth, investor quality, product traction, manufacturing partnerships or strategic customer relationships.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by public-market data, acquisition prices, strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because semiconductor valuation data is not always fully public, each company in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.

This reflects how we conduct all our research, including the work behind our report covering the semiconductor industry.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Chart showing the projected CAGR of the semiconductor industry

This chart, featured in our semiconductor industry deck, shows annual funding in semiconductor startups

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