Lattice Semiconductor (LSCC)
Low-power FPGAs + (post-AMI) server-management firmware — the control-plane silicon and BMC/BIOS stack for AI servers, edge, robotics
AI exposure 25% — derived from reported segment revenue, not asserted.
Where it sits
Silicon Layer → Analog, Logic & Mixed-Signal ICs · figures rebased to Q2 2026, reported 2026-08-04
Low-power FPGAs for data-center, server rack mgmt, comms, AI infrastructure (Nexus/Avant) leads 2 businesses in this sub-tier that together are 100% of revenue, so Analog, Logic & Mixed-Signal ICs is effectively the whole company rather than one leg of it.
Reported segments
- Communications & Computing (data-center/comms FPGAs) — 55% of revenue
- Industrial & Automotive (FPGAs) — 45% of revenue
Lattice Semiconductor (~$0.8B FPGA run-rate 2026) — low-power FPGA leader. Communications & Computing ~55% (data-center/server rack mgmt + comms + AI infra — Nexus/Avant FPGAs = primary B1 Analog/Logic) + Industrial & Automotive ~45% (edge/robotics/auto). Primary B1 Analog, Logic & Mixed-Signal ICs (FPGAs = programmable logic). Fabless (Samsung/TSMC foundry). ACQUIRED AMI (American Megatrends International, $1.65B, CLOSED Jul 27 2026) — industry-standard BMC/BIOS server-management firmware; combined silicon+firmware secure-control platform targeting $1B+ annual run-rate by end-2026 (Q3 guide…
How the 25% is built
- Communications & Computing (data-center/comms FPGAs) — 55% of revenue × 42% AI-driven (disclosed). Mgmt Q2 2026: AI revenue approaching/exceeding ~25% of total company revenue in 2026. Nearly all of it sits here — Compute & Communications posted record revenue +83% YoY / +18% QoQ on data-center AI demand, with the server business growing faster still. 42% of this segment reconciles to the disclosed ~25%…
- Industrial & Automotive (FPGAs) — 45% of revenue × 5% AI-driven (estimate). Estimate, unchanged. Edge/robotics/automotive FPGA content is not AI-infrastructure demand; kept at a nominal 5% so the two rows reconcile to the disclosed ~25% company total
Investment read
Moat. Low-power FPGA niche leadership (the "Switzerland" of programmable logic) + now the industry-standard AMI BMC/BIOS server-management firmware stack (closed Jul 2026) — small, sticky companion chips plus the firmware that runs them, raising switching costs on every server socket.
Bottleneck / pricing power. Moderate pricing power (niche dominance in low-power FPGAs, design stickiness); the small-but-sticky control-plane chip in AI servers.
Role in the AI stack. The low-power programmable-logic companion chip.
Connected companies
- Samsung Electronics (SSNLF) — LSCC is supplied by: foundry — manufactures Lattice low-power FPGAs (Samsung)
- Synopsys (SNPS) — LSCC is supplied by: EDA tools for Lattice FPGA design
- Microsoft (MSFT) — LSCC supplies: low-power control/security FPGAs (MachXO family) for server power sequencing, platform management and hardware root-of-trust in Azure/OCP server designs
- Dell Technologies (DELL) — LSCC supplies: FPGAs for server platform management/security
- Super Micro Computer (SMCI) — LSCC supplies: FPGAs for AI-server rack management
- Microchip Technology (MCHP) — LSCC competes with: FPGA competitors — Lattice (Nexus/low-power) vs Microchip PolarFire (mid-range)
- Renesas Electronics (RNECY) — LSCC competes with: Thin FPGA overlap — Renesas ForgeFPGA (ultra-low-density) touches only Lattice's low end; Renesas is mainly MCU/analog
- NXP Semiconductors (NXPI) — LSCC competes with: Adjacent, not head-to-head — NXP (MCUs/processors/connectivity) and Lattice (FPGAs) both target edge/industrial sockets but are not substitutable
Others in Analog, Logic & Mixed-Signal ICs
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