The Hidden Player in the Semiconductor Boom

You’ll find semiconductors in just about every device with a plug, a power button, or a battery. In this episode of What Matters Most, Sands Capital research analyst Daniel Pilling explains why Entegris, a critical player in the global semiconductor industry, is seeing rapid growth as the demand for artificial intelligence (AI) and machine learning intensifies. Transcript available here. (00:01:37) From vacuum tubes to artificial intelligence (AI) in 80 years—a quick history of semiconductors (00:04:51) How small is a nanometer really? Moore’s Law in action, shrinking chip circuitry. (00:07:33) Exponential complexity in chipmaking. Skyscrapers and bread? (00:09:00) But actually, how do you make a semiconductor? (00:15:18) Entegris: chemicals or technology analysts? Who covers it and why? (00:18:56) “One throat to choke”? And the chokepoint explained. (00:26:28) Why consumables have less “lumpy” capital expenditures (00:26:51) Chips that power EVs [electric vehicles] (00:30:22) Don’t bet on the winner in this market, and what to do instead. (00:33:57) Advantages and industry talent finding an employer of choice (00:40:32) The iPhone moment and where AI is going from here (00:42:17) Outlook for Entegris and semiconductor growth Related content from Sands Capital ⁠⁠Sign up to receive our monthly Perspectives newsletter: ⁠⁠Our latest thinking on innovation investing, long-term capital, and culture More from Daniel Pilling: Gen AI: Hype or Megatrend, Inside Cadence: The Software Powering Semiconductor Breakthroughs Season 3 is now live! Samsara: Steering the Future with Integrated Fleet Technology Catch our most popular episodes from last season: ⁠⁠Globant Takes A Design-First Approach to Pure Play Digital Service⁠⁠ ⁠⁠⁠Revolutionizing Public Safety: The Axon Ecosystem⁠⁠⁠ Kaspi: The Super App Reshaping Kazakhstan’s Financial Landscape ⁠⁠Follow What Matters Most⁠⁠ wherever you listen to podcasts and never miss an episode. Learn more about ⁠⁠Sands Capital⁠⁠, sign up for ⁠⁠our newsletter⁠⁠, and ⁠⁠follow us on LinkedIn⁠⁠. Review our podcast season and episode disclosures ⁠⁠here⁠⁠.