Semiconductor Test Stocks Surge with AI and HBM Tailwinds, Market Cap Increases by 800 Billion in a Day

FormFactor Inc. (NASDAQ: FORM) closed up 7.27% at $98.06 on the Nasdaq, with trading volume of approximately 1.02 million shares. Its market capitalization reached about $7.6 billion (roughly KRW 10.7 trillion), representing a one-day increase of around $599 million (about KRW 840 billion).

Buoyed by strong demand for HBM-based high-bandwidth memory, FormFactor’s Q4 2025 results beat market expectations, prompting a sharp rise in its share price and an upward revision to its Q1 2026 guidance. On March 25, the company announced it had joined the MeasureOne partner program, expanding its on-wafer RF measurement collaboration with Germany’s Rohde & Schwarz and further strengthening its position in the high-frequency semiconductor test ecosystem.

Headquartered in California, FormFactor supplies semiconductor wafer test and measurement equipment. Through custom probe cards and probing systems, it helps foundries and memory manufacturers improve yields and validate high-performance chips. With enhanced test solutions for HBM, advanced data-center packaging, and quantum and optical communications, FormFactor has emerged as a key beneficiary of the AI infrastructure investment cycle.