Wally Rhines is the spokesperson for the ESD Alliance, part of Semiconductor Equipment and Materials International. He joined Andy Shaughnessy to share details from the latest ESD Alliance report on sales of computer-aided engineering tools, semiconductor tools, PCB design software, related IP and services, and employment.

In this interview, Wally discusses the results for the fourth quarter of 2025, which marks the 20th consecutive quarter of year-on-year growth. What are the drivers behind this winning streak, and what "soft spots" should be on our radar screens?