Teradyne now generates roughly 70% of its revenue from AI-related demand, up from around 40-50% just two quarters ago. The company’s Q2 2026 earnings report is expected between July 28-29. Teradyne makes testing equipment for chips, not GPUs or AI chips directly. In Q1 2026, revenue hit an all-time high of $1.28 billion, representing 87% year-over-year growth. Management has indicated that 55-60% of full-year 2026 revenue is expected to land in the first half of the year. The company secured multiple production test orders for merchant GPUs during Q1. Teradyne has no direct crypto exposure, but the GPUs it tests end up in AI data centers and high-performance computing environments; some of those same chip architectures also serve crypto mining and decentralized AI infrastructure projects. Teradyne recently collaborated with Tokyo Electron and acquired TestInsight. Crypto-native projects like Render and Akash depend on the same NVIDIA chip architectures Teradyne tests in record volumes. Analysts remain cautiously optimistic but have flagged potential volatility tied to AI deployment cycles.