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We see Naura as the key driver: channel checks put it as the largest ICP etch share at CXMT, positioning it to capture m…

SemiAnalysis Twitter · SemiAnalysis (@SemiAnalysis_) · 2026-06-26

SemiAnalysis channel checks identify Naura as the largest ICP etch equipment supplier at Chinese memory maker CXMT, predicting Naura will capture additional share as CXMT expands capacity.

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Topics: semiconductor-equipmentchina-localizationetch-equipmentcxmtnaura

Claims

  • Naura holds the largest ICP etch market share at CXMT based on SemiAnalysis channel checks.
  • Naura is positioned to capture additional etch share as CXMT expands its manufacturing capacity.
  • SemiAnalysis's ChipBook provides detailed analysis supporting this investment thesis.

Key quotes

We see Naura as the key driver: channel checks put it as the largest ICP etch share at CXMT, positioning it to capture more as CXMT expands capacity.