Nova CEO Says Talent Fight Will Intensify as Chipmaker Keeps Expanding
Gabi Weismann, who became CEO of Nova a little more than three years ago, said the chip-equipment company has grown sharply despite the war in Israel and a volatile industry backdrop. In his first interview since taking the job, conducted on June 16, he discussed Nova’s growth, strategy, acquisitions and the challenges ahead.
Nova makes measurement systems for semiconductor manufacturing, tools used to check production processes and ensure they are working properly. As chip designs become more complex and expensive to make, demand for its products rises. The company is traded on Nasdaq and Tel Aviv at a market value of $16.6 billion, after its share price more than doubled over the past year. Since Weismann took over in 2023, Nova’s revenue has risen 54%, net profit 85% and market value about 5.5 times.
Weismann said the company’s main task is to keep its infrastructure and technology able to serve fast-growing demand. He argued that AI, high-performance computing, advanced memory, advanced packaging, and eventually physical AI, robotics and quantum computing will keep driving need for Nova’s tools. He said Nova spends about 15% to 16% of revenue on R&D, more than peers, because it wants to grow faster than the market and deepen value for customers.
He also said acquisitions are central to the strategy. Nova raised $750 million in convertible debt in September and now has $1.7 billion in cash, most of it earmarked for deals. The company has completed three acquisitions in the past decade, and Weismann said it is always evaluating process-control targets, including larger transformative buys and companies in adjacent industries. The pool is limited, he said, but Nova remains committed to inorganic growth.
On talent, Weismann said competition will become harder because growth is high and the pool is limited. Nova employs about 1,700 people, including around 600 in Israel, and is hiring locally in manufacturing, finance, development, marketing and sales. He said the company will keep investing in Israel, despite exchange-rate pressures, because of its unique talent base, and noted that China, which accounts for about a third of revenue, remains a key market as Nova complies with U.S. regulations.
