IBM NanoStack CFET: Turning Patents Into Chip Royalties
About this episode
The episode discusses IBM's new NanoStack technology and its potential impact on the semiconductor industry through patent licensing.
IBM just unveiled NanoStack, its take on the CFET transistor architecture that succeeds gate-all-around as the next step in chip scaling — and it could turn IBM's patent portfolio into a real semiconductor royalty business. IBM claims NanoStack delivers up to a 50% jump in compute performance or a 70% gain in energy efficiency versus its 2021 two-nanometer IP. IBM sold its chip manufacturing business to GlobalFoundries back in 2015, yet it still holds one of the largest patent portfolios in the industry, and IP licensing and custom development income made up nearly 10% of IBM's GAAP net income in 2025. We break down IBM's 2025 revenue, R&D spend, and licensing income, then identify who benefits most across the supply chain, including ASML, Lam Research, Tokyo Electron, and Screen Holdings as advanced lithography, etch, deposition, and wafer-cleaning suppliers to Rapidus, the Japanese foundry startup aiming to ramp production by 2027. This is part of our ongoing coverage of the semiconductor manufacturing supply chain and the next 15 years of chip advancement. Full research is available for members at Semiconductor Insider — join at chipstockinvestor.com. Get 15% off your…
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