UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 10-K
ACME Chips Inc.
| Part I | ||
| Item 1. | Business | 3 |
| Item 1A. | Risk Factors | 5 |
| Item 7. | Management’s Discussion and Analysis | 9 |
| Item 8. | Financial Statements | 12 |
PART I
Item 1. Business
ACME Chips designs graphics processors for data centers. Our wafers are manufactured by Taiwan Semiconductor Manufacturing Company Limited, or TSMC, which is our sole foundry.
Customer A accounted for 14% of our revenue in fiscal year 2025. Our competitors include NVIDIA and Advanced Micro Devices.
Item 1A. Risk Factors
We depend on a single foundry for all of our wafers.
Export controls may restrict our sales of data center products to China.
Our gross margin could decline if HBM memory prices rise.
A cybersecurity incident could disrupt our operations.
Item 7. Management’s Discussion and Analysis of Financial Condition
Revenue was $12.0 billion, up 40% from a year ago, driven by data center demand.
| Revenue | $ | 12,000 |
| Gross margin | 61% |
Item 8. Financial Statements and Supplementary Data
See the consolidated financial statements beginning on page F-1.