New Chips, New Batteries, New Chances: HPQ Silicon Breakthrough? Micron Keeps Surging – Can Aixtron Catch Up?

HPQ Silicon: Major Commercialization Success

At HPQ Silicon, the focus is not on traditional semiconductors, but on silicon as the key material for the next generation of lithium-ion batteries. Among other things, the Canadian company is developing silicon-based anode materials that are expected to enable higher energy density compared to conventional graphite anodes. The technology is therefore expected to be particularly attractive in applications where range, weight, and charging performance are critical.

A key milestone was recently announced. Novacium, in which HPQ Silicon holds a 36.8% stake, has received its first commercial order for more than 100 battery packs for Alta Ares' X-Lock interceptor drones. The French defence tech firm was selected for the DGA's ELISA program and won a NATO innovation tender in drone defence in 2025. The AA NOVA 6S3P packs, with a capacity of 15,000 mAh, are designed to save weight while delivering performance comparable to the previous reference battery. This is a key factor for the speed, agility, and endurance of interceptor drones. The order follows a successful series of tests with ten prototypes in July and could lead to further business.

GEN4 technology development is also fueling speculation. HPQ recently reported progress on high-capacity silicon anodes and mentioned a commercial evaluation with GH Technologies for the Asia-Pacific market. The lithium-ion battery sector is definitely the biggest potential driver of the company's share price. To drastically increase electric-vehicle range and shorten charging times, several global industries are desperately searching for silicon-based anode materials. Theoretically, silicon can store up to ten times as many lithium ions as conventional graphite.

At the same time, HPQ is tapping into a global market worth billions with its fumed silica technology, a market dominated by traditional players such as Evonik and Cabot, but one subject to stricter environmental regulations. HPQ's FSR technology offers a significant cost and environmental advantage. The proprietary process enables the production of fumed silica (an indispensable additive for paints, pharmaceuticals, and adhesives) without toxic byproducts such as silicon tetrachloride. In addition, the subsidiary Novacium is expanding the portfolio to include autonomous silicon-based hydrogen generation systems.

Aixtron: When Will the Stock Rebound?

The company supplies deposition systems that manufacturers use to apply modern semiconductor materials and structures to wafers. The systems are used in particular for compound semiconductors and power semiconductors. In the summer, the stock reached a price of around EUR 60 and has since corrected significantly. How should the current situation be assessed?

In principle, the company has growth drivers in two areas: optoelectronics and power electronics. Optoelectronics includes semiconductors that convert electrical signals into light or vice versa. This includes lasers and optical components for data transmission. The expansion of AI data centres is massively increasing the demand for fast data transmission. Business in this area is booming and exceeding analysts' expectations.

However, the power electronics segment is not currently generating much enthusiasm among investors. Management also acknowledges that the situation here is more challenging. This reflects the business's cyclical nature and varying demand across industries. Power electronics encompasses semiconductors that efficiently switch, convert, and distribute electrical energy. Materials such as gallium nitride (GaN) and silicon carbide (SiC) play a central role. Compared to conventional silicon solutions, they can offer advantages in terms of efficiency, switching speed, and power density.

Currently trading at EUR 34, the shares have lost nearly half their value since the summer. However, most analysts are bullish on the stock and attribute upside potential of just under 50% to the German company.

Micron Technology: All Signs Point to Growth

It is difficult to find a stock comparable to Micron on global stock exchanges. After a price performance of around 250% since the start of the year and a market capitalization that has broken through the USD 1 trillion mark, analysts continue to strongly recommend buying the stock and see upside potential of over 60%. With a P/E ratio of 12.7 for the current year and 6 for the coming fiscal year, some investors might even be rubbing their eyes in disbelief.

The fact is, Micron is right at the heart of the AI boom. The US company produces DRAM and NAND memory and, above all, High Bandwidth Memory (HBM). This high-performance memory is crucial for modern AI accelerators because it can deliver large amounts of data at high speeds and with comparatively high energy efficiency. According to media reports, the company plans to expand its HBM production to around 100,000 wafers per month by the end of the year. At the same time, supply remains tight, resulting in phenomenal margins. The company continues to invest heavily in additional capacity.

The recent order from its portfolio company Novacium established an important first commercial milestone for silicon-based battery technology in the European defence and drone market. This underscores HPQ Silicon's upside potential. The Canadian company also has other irons in the fire. According to analysts, Aixtron and Micron are poised for further price gains.