Aehr Test Systems AEHR surges 15.95% on $5.5M Sonoma order and reinstated revenue guidance

Aehr Test Systems (AEHR) surged 15.9471% in pre-market trading on January 12, 2026, driven by renewed investor interest in AI-driven semiconductor testing solutions. The stock’s upward momentum followed a $5.5 million order for Sonoma ultra-high-power burn-in systems tailored for AI processors, alongside the reinstatement of fiscal 2026 revenue guidance. The company also introduced a fully automated Sonoma platform, signaling improved operational scalability and alignment with surging demand for next-generation CPU/GPU testing.

Recent developments underscore Aehr’s strategic positioning in the AI hardware supply chain. The Sonoma orders, coupled with management’s updated $25–$30 million revenue target for fiscal 2026, highlight confidence in sustained demand from data centers and AI developers. However, mixed sentiment persists due to Q2 fiscal 2026 revenue falling 27% year-over-year to $9.9 million and ongoing net losses. Analysts note that while the valuation—trading at a 15.1x price-to-sales ratio, well above the semiconductor industry average—reflects optimism about AI tailwinds, it also raises questions about sustainability amid cash burn and execution risks.

Investors are balancing short-term optimism over AI-related bookings with caution around long-term profitability. The reinstated guidance and automation advancements may bolster Aehr’s competitive edge, but near-term earnings pressure and high valuation multiples suggest continued volatility. Market participants will closely monitor order-to-revenue conversion rates and cash flow trends to assess whether the rally reflects justified growth potential or overextended optimism.

Financial analysts remain divided on the future trajectory of Aehr Test Systems. While the firm’s strategic alignment with AI-driven testing infrastructure is undeniably compelling, its financial performance continues to pose challenges. The company’s ongoing losses and heavy cash burn raise red flags, particularly as investors weigh long-term profitability versus immediate AI-related growth potential. With the market reacting strongly to the reinstated fiscal guidance and automation advancements, the coming quarters will likely determine whether AEHR can sustain its current momentum or face renewed skepticism from the investment community.