Hello and welcome to Stocks in the Under. My name is Mark Kenneth, and today we're joined by Coby Hanoch, the CEO of Weebit Nano. Good morning, Coby.
Big news you announced today. You signed Texas Instruments, the biggest analog semiconductor manufacturer in the world. Massive news. Talk to us about Texas Instruments. I'm sure a lot of people in Australia know the company, but talk to us about that company and what they do specifically.
Well, TI, as it's known, is a very well-known company. You know, I remember as a kid in high school using their calculators already. And yes, they are a very important company. If I'm not mistaken, they're something like number 30 on the NASDAQ list, you know, a company with a market cap of over 250 billion US dollars. So definitely one of the biggest semiconductor players. We're very proud to have them join the Weebit Club, and this was a very long and detailed negotiation, and it's great to have them on board.
TI has 80,000 products in their product book. So you know, you can understand just how big they are, and this is very important. Obviously not all the products will be using ReRAM, but definitely we expect quite a few of them to end up with ReRAM. So this is a very important step forward in the market, and I think TI, together with onsemi, is really going to help all the others that are sitting on the fence for so long to move forward.
All right, that's good news. So if you look at the revenues for TI through the third quarter of 2025, so the 12 months to the third quarter, that amounts to 17.3 billion US dollars, which is a very sizable number. That's split up into analog, which is by far the largest division, and embedded processing. So embedded processing is where they expect to integrate ReRAM, if I'm not mistaken, and they say it's at their advanced manufacturing node. And if you look at the details of TI, that's about 28 nanometers. Can you explain to us how these products — and you mentioned 80,000 of them — but specifically for this division within TI, where ReRAM comes in and how these products benefit from your technology?
So yeah, TI is a very big company with a lot of activities. They asked us not to talk about specific geometries, and the embedded side of things is what we talk about all the time. We need to remember — and I mentioned it many times — that today even the analog side of things is becoming smarter, like power management, which used to be just simple analog, is today becoming smart power management, where you need an MCU, a microcontroller, to control how fast you charge and, you know, things like that.
So things are somewhat merging in different spaces of analog, and that's where onsemi, which is also basically an analog company, came to Weebit. And if you remember, I showed the Yole report with the exceptional growth expected for ReRAM, and on that slide you could see that the first market that Yole is expecting ReRAM to grow in is the analog market. And now you can see onsemi and TI, it kind of follows the old expectations. And so we definitely are expecting to see nice growth in the analog market. We're also obviously talking to a lot of people that are on the digital side of things, and we believe that we'll also be growing into fabs on the digital side as well.
Right. And so if you look at TI specifically, TI's embedded processing is highly geared towards automotive, towards industrial, and of course onsemi — onsemi, they're highly geared towards automotive as well. So specifically, why is your technology so well suited to automotive in particular? Not just automotive, but automotive as a sort of focus segment for you.
Yes. So actually, both automotive and analog, our ReRAM is really tailored for these things. We announced earlier this year that we achieved the AEC-Q100 qualification, which basically shows that we can operate at 150 degrees for 10 years. Since then, we actually even showed people that wanted to see it that we can achieve higher temperatures, and our technology is very suited for these high temperatures, which is a critical requirement for automotive. So that's one angle.
The other one, regarding the analog side of things — and maybe I should have clarified it a little bit more in the previous question — but when analog wants to become smart analog, it basically needs a microcontroller. What happens is, a microcontroller has to have non-volatile memory, and so if you try to put flash next to your analog circuit, next to power management or whatever other analog circuit, that will cause issues, because flash is front-end-of-line technology and it sits right next to the analog design and it interferes with the analog. So you can't actually have your most optimal analog design when you have flash there.
Since our ReRAM is back-end-of-line, it can come in the top metal between the metal layers, and it, you know, doesn't impact the design — doesn't even know that it's there, basically. So this is a real advantage that we have in the analog space today. The solution with flash is most likely to be just doing a two-chip solution: you just have one chip with the analog and another one with the MCU and flash, which obviously is more costly and difficult, etc. In the case of ReRAM, it's a much cheaper solution. It's a one-chip solution, very simple to manufacture. So for analog companies, having ReRAM is a huge advantage over flash. And then when these companies are focused on automotive, the fact that we can deal with very high temperatures is another big advantage, and that's really why I believe these companies are coming to Weebit.
All right. So next question. I'm not sure how much you can talk about that, given, you know, all the confidentiality agreements in these overall agreements, but can you talk a little bit about the timelines for the design work, the design-in, tape-out, manufacturing potentially later on? Of course, is there anything you can say about that, specifically with regards to TI?
