About Rambus

Rambus Inc. (Rambus) operates as a fabless semiconductor company. Rambus is dedicated to addressing the challenges of accelerating and protecting data in hardware for the data center and other growing markets. The company is a leader in high-performance memory subsystems, providing chips, silicon intellectual property (‘IP’) and innovations that maximize the performance and security in computationally intensive systems. Rambus focuses on advancing memory technologies and novel architectures, as well as delivering the solutions needed to break down the memory wall. The company provides industry-leading memory interface chips that enable the highest bandwidth and capacity server memory modules, maximizing memory performance for data-intensive workloads. The broadening adoption of AI also creates opportunities for the company’s silicon IP solutions. The company’s high-performance digital controller cores are increasingly critical to accelerated computing chips. In addition, the proliferation of application-specific silicon creates increased vulnerabilities to attack as data is distributed across systems, amplifying the need for the company’s industry-leading security IP. Rambus offers a balanced and diverse portfolio of solutions across chips, silicon IP and patent licensing, each of them contributing at scale. The data center continues to be the company’s primary focus market, demanding the highest performance and security, and represents greater than 75% of the revenue from Rambus chip and silicon IP sales. The company’s target customers are companies that develop and market high volume business and consumer products in semiconductors, computing, data centers, networks, tablets, handheld devices, mobile applications, gaming and graphics, high-definition televisions, cryptography and data security. The company sells its memory interface chips directly and indirectly to memory module manufacturers and OEMs worldwide for integration into server memory modules. In July 2023, the company entered into an asset purchase agreement with Cadence Design Systems to sell the company’s PHY IP group, and the sale was completed in September 2023. Memory Interface Chips Made for high performance, reliability and power efficiency, Rambus DDR memory interface chips for server memory modules (e.g., RDIMMs) enable increased bandwidth and expanded capacity in enterprise and cloud servers. The Rambus portfolio includes DDR5 and DDR4 memory interface chipsets. The company’s leading-edge DDR5 chipset solution includes the Registering Clock Driver (‘RCD’), Serial Presence Detect Hubs (‘SPD Hub’) and Temperature Sensors (‘TS’). The company sells memory interface chips directly and indirectly to memory module manufacturers, OEMs and hyperscalers worldwide through multiple channels, including the company’s direct sales force and distributors. The company has sales operations in the United States, France, Japan, South Korea, Taiwan and China, where the company employs sales personnel who serve its direct customers and manage the company’s channel partners. The company operates a fabless business model and uses third-party foundries and manufacturing contractors to fabricate, assemble and test its memory interface chips. The company also inspects and tests parts in its U.S.-based facilities. This outsourced manufacturing approach allows the company to focus its investment and resources on the research, development, design, sale and marketing of the company’s products. Outsourcing also allows the company the flexibility needed to respond to new market opportunities, simplifies its operations and significantly reduces the company’s capital requirements. Silicon IP Rambus Silicon IP includes interface and security IP solutions that move and protect data in advanced data center, government and automotive applications. The company’s interface IP solutions feature both high-speed memory and chip-to-chip digital controller IP. The company’s security IP offerings comprise one of the industry’s most comprehensive portfolios of solutions, including crypto cores, hardware roots of trust, high-speed protocol engines and chip provisioning technologies. The company sells Silicon IP solutions to leading chip makers worldwide for integration into their SoC and FPGA designs. Rambus Silicon IP is sold primarily through the company’s direct sales force operating out of offices in the United States, France, Japan, South Korea, Taiwan and China. Patent Licenses The company’s patented inventions are foundational to the semiconductor industry and are licensed to leading semiconductor and system companies around the world. Rambus continues to innovate and invent, thereby advancing semiconductor technology. With a broad worldwide portfolio of patents covering memory architecture, high-speed serial links and security, the company enhances its value and relevance in its target markets and create a platform for investment in product development. The company’s patent licenses enable its customers to use specified portions of the company’s portfolio of patented inventions in the customer’s own digital electronics products, systems or services. These licenses may also define the specific field of use where the company’s customers may use or employ the company’s inventions in their products. License agreements are structured with fixed or variable, or a hybrid of fixed and variable royalty payments over certain periods typically ranging up to ten years. Leading semiconductor and electronic system companies, such as AMD, Broadcom, CXMT, IBM, Infineon, Kioxia, Marvell, MediaTek, Micron, Nanya, Nuvoton, NVIDIA, Phison, Qualcomm, Samsung, SK hynix, Socionext, STMicroelectronics, Toshiba, Western Digital and Winbond have licensed the company’s patents for use in their own products. Additionally, from time to time, the company enters into agreements to sell certain patent assets under agreements, which may also include subsequent profit-sharing. The sale of these patents, as well as the subsequent profit-sharing, are included as part of the company’s royalty revenue. Competition In the memory interface chip market, the company competes with international semiconductor companies, including Renesas Electronics Corporation and Montage Technology. In the Silicon IP market, Rambus competes with the in-house design teams at the company’s potential customers, as well as with third-party IP suppliers, such as Cadence Design Systems, Inc. and Synopsys. Intellectual Property As of December 31, 2023, the company’s technologies were covered by 2,221 U.S. and foreign patents, having expiration dates ranging from 2024 to 2043. Additionally, the company has 547 patent applications pending. Research and Development For the year ended December 31, 2023, the company’s research and development expenses were $156.8 million. History Rambus Inc. was founded in 1990. The company was incorporated in California in 1990 and reincorporated in Delaware in 1997.