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The Bonders — Advanced Packaging Outliers · AI Chain

KLIC

Kulicke & Soffa
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TCB transition + wire-bond cash cow

What they do

Kulicke & Soffa runs the legacy wire-bond business that funds their next-gen 'TCB' (thermo-compression bonding) machines — the alternative path to BESI's hybrid bonders for connecting stacked chips. Either TCB takes share or it doesn't, but the wire-bond cash flow underwrites the bet.