Nomura Value Fund on Qnity Electronics, Inc.
Thesis
Qnity supplies specialty materials used in advanced semiconductor manufacturing and packaging, giving it broad exposure to AI-related chip demand. Strong volume growth and raised full-year revenue and earnings guidance indicate that this demand is translating into operating momentum. The fund views Qnity as a picks-and-shovels supplier that can benefit from increasing demand for advanced chips regardless of which semiconductor vendors ultimately lead the AI buildout.
“we think Qnity remains well positioned and poised to benefit from increasing demand for advanced chips”