Ichor Holdings

When Lam Research or Applied Materials builds a chipmaking tool, the gas and chemical plumbing inside it often comes from Ichor. The company designs and assembles fluid-delivery subsystems, the modules of valves, regulators, filters, and precisely machined blocks that route reactive gases and liquids through etch and deposition equipment. It is an outsourcing story: as the big equipment makers hand off more subassembly work, Ichor captures the content. That model carries a clear risk, because a small number of customers account for most of its sales, so Ichor's revenue swings hard with their order patterns and the broader chip-equipment cycle. To defend its position it has moved to make more of the components itself, from gas panels to machined parts, raising its value per system. Founded in 1999, Ichor is based in Fremont, California.

On MyRWA, ICHR trades tokenized across 1 on-chain venue - see the listings below.