UK's IQE posts half-year profit on AI infrastructure demand

British chip components company IQE Plc reported a half-yearly core profit of £6 million ($8.11 million) for the period ending June 30, marking a turnaround from a £0.4 million loss in the previous year. The profit surge was driven by robust demand from AI infrastructure, data centre, and defence customers. Following a downturn in the electronics market and interference from U.S. tariffs, the Wales-based IQE is capitalising on the burgeoning AI sector and the ensuing need for equipment used in data centre construction.

The company's adjusted core profit for the six months ending June 30 surpassed management expectations, with momentum persisting into the second half of the year. IQE has maintained its full-year forecast, and the firm intends to seek listing on the Main Market of London's Alternative Investment Market, aiming to complete the process in the first half of 2027.