Veeco Instruments Inc. (NASDAQ:VECO) Q1 2024 Earnings Call Transcript

Bill Miller: And to answer the – your second question on the impact of AI on the data storage industry, I mean, we’ve been speaking with our customers, and two of our largest customers really do expect the rise of generative AI to drive healthy long-term exabyte growth, which is really critical for our business. And they are projecting growth rates on – at the 20% kind of CAGR number in the kind of mid to long-term, which would definitely be the bit growth rate that would drive a healthy industry at an — a healthy equipment industry to support it.

Mark Miller: Thank you.

Bill Miller: Thank you, Mark.

Operator: There are no further questions in the queue. I’d like to hand the call back to management for closing remarks.

Bill Miller: Thank you, operator. I want to thank our customers and shareholders along with the Veeco team for their continued support as we execute our growth strategy. Have a great evening. Thank you.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.