Shares of Isu Petasys Co., a circuit board maker in South Korea, have surged 487% this year, thanks to investor interest in artificial intelligence (AI). The company, which supplies multilayered boards to tech giants such as Alphabet, Nvidia, and Microsoft, has seen its share price rise dramatically. Chairman Kim Sang-Beom and his family now hold stakes valued at over $800 million as of August 3.

Isu Petasys, which was founded in 1972, initially distributed printed circuit boards for hard disk drives. The company has diversified its customer base in recent years, adding major technology companies as customers alongside traditional telecommunications manufacturers. Orders for Isu Petasys’ AI accelerators have increased nearly eight-fold to $36.4 million in the first quarter of this year compared to the previous year.

Despite a 3.9% growth in revenue to $172 billion won in the first quarter, the company’s operating profits fell 33% to $20.2 billion won, mainly due to lower profitability of its AI products compared to those sold for telecommunications devices. Analysts are optimistic about Isu Petasys’ future prospects, as AI-related sales are expected to contribute a growing portion of the company’s revenue. Analysts also suggest that increasing tensions between the United States and China have led US companies to prefer suppliers from non-Chinese companies like Isu Petasys.

Looking ahead, analysts estimate that AI-related business will make up 20% of the company’s revenue this year and at least 30% in 2024. The growing demand for AI investments is creating substantial wealth for companies like Isu Petasys, who are well-positioned to benefit from this trend.

ABOUT ISU PETASYS

ISU PETASYS is a production business specialized in Ultra-multilayer PCB(Printed Circuit Board), developing products of ultra-high integration & high quality to lead the global market and it intends to focus all its capabilities on creating new opportunities in the high value-added market by expanding its business portfolio and manufacturing base.

In addition, ISU PETASYS will secure the foundation for sustainable growth through the development of core technologies in the next-generation network industry field and foster it as a global top-notch PCB company.