Aehr manufactures semiconductor test and burn-in equipment used to identify chip failures under high voltage and temperature stress. By testing chips at the wafer level before final packaging, Aehr helps manufacturers avoid the cost of discarding expensive multi-chip assemblies that contain defective parts. The core product line is the FOX-P series, which uses proprietary WaferPak contactors to stress-test up to 18 wafers simultaneously. Aehr also sells package-level systems like the Sonoma platform, which supports high-power AI accelerators and GPUs. The business model combines the sale of high-value capital equipment with recurring revenue from consumables, such as custom-designed probe cards and burn-in boards that customers replace over a two-to-seven-year cycle. Aehr is currently pivoting its growth strategy away from silicon carbide for electric vehicles toward AI and data center applications, specifically focusing on AI processors, silicon photonics, and gallium nitride semiconductors. Most revenue comes from a small group of large semiconductor manufacturers and contract assembly labs. Aehr performs final assembly at its California facility using outsourced components, making margins highly sensitive to production volume. The company argues that as AI chips integrate more components into a single package, the demand for its wafer-level testing increases to protect production yields.