One of the beneficiaries of booming AI-driven demand for high-bandwidth memory is a Kyoto-based company that controls a small but essential part of the chipmaking process.

Towa commands two-thirds of the world’s chip molding equipment market, according to research firm TechInsights.

It’s a key step that encases chip die and wires with resin, protecting them from dust, moisture and impact so they can be safely stacked together to give graphics processors, such as Nvidia’s, more capabilities to better train artificial intelligence.