Axcelis

Axcelis Technologies of Beverly, Massachusetts, was spun off from Eaton Corporation in 2000 and narrowed itself to ion implantation. The step accelerates charged atoms — boron, phosphorus, arsenic — and shoots them into the silicon lattice, creating the doped regions a transistor is made of.

Unlike most equipment firms, Axcelis makes almost nothing but implanters, under the Purion brand, competing there mainly with Applied Materials. An unexpected tailwind came from power electronics: silicon carbide needs deep, high-dose implants that suit the company's machines, turning an otherwise cyclical niche into a growth engine.