Vicor Is Selling Everything They Can Make!

Vicor (VICR) is experiencing unprecedented demand for its AI power converters, driven by lead customer Cerebras and upcoming hyperscaler engagements. Bookings surged to a record $237M in Q1 with a book-to-bill ratio above 2:1; capacity expansion of 350% to $3.5B is underway. Royalty income is expected to approach 50% of product revenue, with a second-source licensing agreement anticipated to accelerate margin expansion.