Glass Core Substrates

Qualifying

Next-gen advanced packaging — 2027 mass production

Qualification → Volume Orders H2 2026 → Mass Production 2027

TAM Projection
$2B
Today
$20B
2030
900% TAM growth

Thesis

Glass core substrates are the next-generation advanced packaging medium replacing organic substrates for AI chiplet integration. They offer lower loss, higher density, and better thermal management. The commercialization inflection is 2027. LPKF holds a functional monopoly over Laser Induced Deep Etching (LIDE) — the key manufacturing process. 80%+ of major global semiconductor players have chosen LPKF for validation. Intel, Samsung, SKC Absolics, Corning, AGC, Schott all qualifying. Volume orders expected H2 2026 — not included in any analyst guidance.

Picks in this Sector (1 active, 1 rejected)

$LPK
LPKF Laser & Electronics
High Conviction
Glass Core Substrate LIDE Monopoly

LPKF holds a functional monopoly over Laser Induced Deep Etching (LIDE) — the key manufacturing process for glass core substrates, the next-generation advanced packaging substrate after organic. Glass core substrates are required for CPO architectures and advanced chiplet packaging. 80%+ of major global semiconductor players have selected LPKF equipment for process validation. Mass production inflection point: 2027. Volume orders H2 2026 — not included in any current analyst forecasts. Called as potential 10× at $362M MC.

Glass Core SubstratesQualifying
$360M$3.6B

Rejected

$SHMD
Sievert Larson
Rejected
Glass Core Substrate (Diluted)

Rejected. Concerning dilution overhang (45M → 95M share vote).

Glass Core Substrates