Chipmaker IQE raises annual sales growth forecast on AI, data centre demand

July 21 (Reuters) - UK semiconductor wafer maker IQE on Tuesday raised its full-year revenue growth forecast after its first-half trading beat expectations, driven by rising demand for its semiconductor products used in AI infrastructure and data centres.

Here are some details:

• IQE upgraded its 2026 revenue growth forecast to above 30%, from 20% previously and said core profit would reach the low-teens millions of pounds.

• The company said demand for its Indium Phosphide solutions, a key component in optical photonic products used in AI infrastructure and data centres, accelerated in the first half and would remain strong through the rest of the year.

• The improved outlook was also supported by strength in the aerospace and defence market, alongside robust demand for 3D sensing and wireless products.

• IQE expects first-half revenue of at least £64 million($86 million), with trading during the first half exceeding management expectations across all core businesses.($1 = 0.7439 pounds)

(Reporting by Atharva Singh in Bengaluru; Editing by Nivedita Bhattacharjee)