Andes Technology Achieves Record Annual Revenue Amid Strong AI Demand

Eight Consecutive Years of Growth, with AI Customers Driving 38% of 2024 Revenue

San Jose, CA – Mar 14, 2025 – Andes Technology Corporation (TWSE: 6533), a global leader in high-performance, low-power RISC-V processor IP solutions, has achieved a significant milestone, surpassing $42 million in revenue for 2024. From the sale of the first RISC-V product in 2018 to 2024, the compound annual growth rate (CAGR) reached 28.7%, reinforcing Andes’ leadership in advancing RISC-V adoption across all market segments.

Sustained Revenue Growth and Market Expansion

Andes continues to experience strong revenue growth in both licensing and royalties, fueled by increasing adoption of its RISC-V processor IP solutions.

• License Revenue grew 38.4% year-over-year, demonstrating strong customer adoption.
• Royalty Revenue increased 25.0% year-over-year, reflecting Andes-powered chips’ widespread market penetration, now surpassing 16 billion units shipped.

Geographically, Taiwan (38%) and United States (31%) remain Andes’ largest markets, with China (23%) and other regions contributing to the company’s global expansion.

Andes’ Extends RISC-V Leadership in AI and Automotive

By application, AI leads all sectors, followed by consumer electronics, IoT and Automotive.

AI has become a major growth driver for Andes, accounting for 38% of the company’s revenue. Andes is uniquely positioned to meet the needs of AI with the combination of its high-performance vector processors and ACE (Andes’ Automated Custom Extensions). ACE enables Andes’ customers to easily and robustly customize their Instruction Set Architecture (ISA) to achieve unprecedented levels of performance and power efficiency while maintaining flexibility and ease-of-use. Over 80% of Andes’ AI customers heavily leverage this capability to differentiate their solutions. Notable customers targeting AI include Axelera AI, Fractile AI, Meta, RAIN AI, and Rivos Inc, among others. Further, Deep Computing launched the world’s first RISC-V AI PC, powered by Andes 7nm Qilai SoC.

Additionally, automotive revenue has grown by 2.6x, reflecting Andes’ investment in ISO 26262 certified IPs and the increasing adoption for RISC-V in safety critical systems. Andes has added one major US Integrated Device Manufacturer and MetaSilicon to its list of licensees for its automotive–certified IPs.

A Vision for the Future

“The rapid expansion of AI applications underscores RISC-V’s potential in artificial intelligence,” said Frankwell Lin, Chairman and CEO of Andes Technology. “We are committed to investing in AI acceleration technologies and deepening our partnerships to drive AI adoption across industries.”

“RISC-V is no longer just an emerging standard—it is becoming the foundation of next-generation computing,” added Dr. Charlie Su, President and CTO of Andes Technology. “With a robust product roadmap and strong ecosystem collaborations, Andes is well-positioned to make RISC-V the standard for AI workloads.”

Eight years ago, Andes Technology was a visionary early-adopter of RISC-V. Through continuous innovation, strong customer orientation, and a deep understanding of market trends, the company has gained momentum, transforming into a driving force in the RISC-V revolution. Today, Andes continues to set the standard for RISC-V processor IP, fueling advancements in AI, automotive, and high-performance computing.

To learn more about Andes and its ecosystem of customers and partners, please register for Andes RISC-V CON Silicon Valley on April 29 at the DoubleTree by Hilton Hotel in San Jose. Event website: https://bit.ly/3DpvlJo

About Andes RISC-V CON Silicon Valley

ANDES RISC-V CON 2025 will take place at the DoubleTree by Hilton Hotel in San Jose on April 29.

The event will highlight RISC-V processors driving diverse and innovative technologies, focusing on four key application areas: AI/ML, automotive electronics, application processing, and security. Leading ecosystem partners, including Arteris, Baya, BrainChip, Cycurity, Edge AI and Vision Alliance, EdgeQ, IAR, Imagination, OPENEDGES, proteanTecs, QuickLogic, S2C, SHD Group, Siemens, and Sondrel, will share insights and showcase their latest advancements.

A new deep-dive hands-on developer track, hosted with IAR, Baya, and Imagination, will provide in-depth RISC-V training.

Join to explore cutting-edge RISC-V innovations and connect with industry experts: https://bit.ly/3DpvlJo

About Andes Technology

As a Founding Premier member of RISC-V International and a leader in commercial CPU IP, Andes Technology (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099) is driving the global adoption of RISC-V. Andes’ extensive RISC-V Processor IP portfolio spans from ultra-efficient 32-bit CPUs to high-performance 64-bit Out-of-Order multiprocessor coherent clusters.

With advanced vector processing, DSP capabilities, the powerful Andes Automated Custom Extension (ACE) framework, end-to-end AI hardware/software stack, ISO 26262 certification with full compliance, and a robust software ecosystem, Andes unlocks the full potential of RISC-V, empowering customers to accelerate innovation across AI, automotive, communications, consumer electronics, data centers, and mobile devices. Over 16 billion Andes-powered SoCs by the end of 2024 are driving innovations globally. Discover more at www.andestech.com.