CEVA, Inc.

CEVA does not manufacture chips. It licenses the designs that go inside them, earning upfront fees and per-unit royalties whenever a customer ships silicon built on its technology. The catalog covers signal-processing and AI cores plus wireless connectivity blocks for Bluetooth, Wi-Fi, ultra-wideband and cellular, the plumbing that lets billions of low-cost devices sense, compute and communicate. Formed in 2002 from the DSP licensing arm of Israel's DSP Group and Ireland's Parthus Technologies, CEVA is now headquartered in Rockville, Maryland, with design centers spread across several countries. Its technology ends up in handsets, earbuds, IoT sensors and industrial equipment. Because the model is royalty-based, revenue lags the shipment cycles of its licensees, and growth depends on winning designs years before the end products reach the market. That makes design wins, not current sales, the number to watch.

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