# Who are AT&S's customers? Who does AT&S earn revenue from?
Canonical: https://valuechain.wiki/at-s · Facet: customers · Updated: 2026-07-12T08:22:44.684+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: AT&S's confirmed revenue counterparties include AMD, Intel. Per the valuechain.wiki graph: 2 revenue edges, backed by 5 dated sources, 2 of them primary filings (as of 2026-07-12).

### AMD (high)  → /amd.md
- metric: Market share 10% · 2024 · global FC-BGA share
- note: Supplies high-end IC substrates to AMD — advanced-packaging demand for its GPUs and MI accelerators is a core customer driving large-area substrate growth.
- [confirms] AT&S / earnings (EN, filing, published 2026-05-01) https://finance.yahoo.com/quote/ASAAF/earnings/ASAAF-Q4-2026-earnings_call-422702.html: "AT&S FY2025/26 (ended Mar 2026) revenue EUR 1.8B (+21% cc), EBITDA margin 23.3% (+560bps), operating FCF turned positive at EUR 236M. FC-BGA high-performance substrates for AI accelerators/HBM (Kulim, Hinterberg ramp). Per-customer revenue undisclosed."
- [confirms] AT&S (EN, ir, published 2025-05-01) https://ams.at-s.com/: "Provides high-end IC substrates to AMD."
- [confirms] IMR (EN, analysis, published 2025-01-01) https://www.intelmarketresearch.com/global-package-substrates-forecast-market-27111: "Provides high-end IC substrates to AMD."

### Intel (mid)  → /intel.md
- note: Supplies high-end IC substrates to Intel — demand tied to Intel's advanced-packaging strategy (e.g., Foveros).
- [confirms] AT&S / earnings (EN, filing, published 2026-05-01) https://finance.yahoo.com/quote/ASAAF/earnings/ASAAF-Q4-2026-earnings_call-422702.html: "AT&S FY2025/26 (ended Mar 2026) revenue EUR 1.8B (+21% cc), EBITDA margin 23.3% (+560bps), operating FCF turned positive at EUR 236M. FC-BGA high-performance substrates for AI accelerators/HBM (Kulim, Hinterberg ramp). Per-customer revenue undisclosed."
- [confirms] Sisa Journal e (KO, news, published 2025-06-01) https://www.sisajournal-e.com/news/articleView.html?idxno=295754: "Substrate industry incl. Taiwan/Austria"
- [confirms] AT&S (EN, ir, published 2025-05-01) https://ams.at-s.com/: "Provides high-end IC substrates to Intel."
- [confirms] Company IR / exchange filing (EN, filing, published 2025-04-01) https://ams.at-s.com/financial-reports: "Annual report: revenue, customers, business."
- [confirms] IMR (EN, analysis, published 2025-01-01) https://www.intelmarketresearch.com/global-package-substrates-forecast-market-27111: "Provides high-end IC substrates to Intel."

Reverse side: https://valuechain.wiki/at-s/suppliers.md · Ripple: https://valuechain.wiki/at-s/ripple.md

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