PieceMakers can build on the growing share of custom chip design services, which reached 40 percent of revenue in the first half of 2026 up from 4 percent in 2024, if customer programs reach volume production, though volume-revenue timing and wafer-stack yield remain the principal risks to that view.

The first volume customer program will not contribute to company financials until 2027, at the earliest. An illustrative 80 percent yield per layer would produce roughly 41 percent across four layers. That rate gives 17 percent across eight layers.

The investment thesis is exposed to delayed volume contribution and integration execution: PieceMakers' first volume customer program is not expected to contribute to company financials before 2027 at the earliest, while the reported 80 percent per-layer yield is illustrative, with the model giving approximately 41 percent aggregate yield for four layers and 17 percent for eight.

PieceMakers' proposed manufacturing model relies on the customer's logic-wafer foundry for TSV and hybrid-bonding processes.

HiBaLL offers a custom memory-chip design service with bandwidth over 1 TBPS, via 3D stacking and hybrid bonding.

PieceMakers' proposed architecture bonds DRAM directly onto a processor or logic wafer through hybrid bonding. The design sits between SRAM-heavy designs and conventional off-chip memory arrangements.