Texas Instruments Incorporated (TXN): Business Model Canvas [Dec-2025 Updated]

You're trying to map out the strategy for a semiconductor giant that's putting its chips on the long game, especially with that massive $\mathbf{\$60}$ billion manufacturing commitment underway. As a former BlackRock analyst, I can tell you that understanding the Business Model Canvas for Texas Instruments Incorporated is key to seeing past the quarterly noise; their engine is still the $\mathbf{78\%}$ of 2024 revenue driven by Analog products, supported by a direct sales force accounting for about $\mathbf{80\%}$ of sales. We're looking at a company pouring $\mathbf{\$4.9}$ billion in capital expenditures (CapEx) through Q2 2025 into proprietary 300mm wafer technology to secure long-term supply for over $\mathbf{100,000}$ customers across industrial and automotive sectors. The value proposition boils down to supply assurance and breadth, plain and simple. Dive into the full nine blocks below to see exactly how they are structuring this multi-year transformation.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Key Partnerships

You're looking at the relationships Texas Instruments Incorporated (TXN) relies on to keep its massive manufacturing and design engine running smoothly, especially as it executes on its multi-billion dollar U.S. expansion. These partnerships are critical for securing capital, ensuring demand, driving next-generation technology, and maintaining a reliable channel to market.

U.S. Government for CHIPS Act Funding

The partnership with the U.S. Government, formalized through the CHIPS and Science Act, is a cornerstone of TXN's current capital expenditure strategy. This support significantly de-risks the planned domestic capacity buildout. TXN has secured an award agreement for up to $1.6 billion in direct funding from the U.S. Department of Commerce to support three new 300mm semiconductor wafer fabs under construction in Texas and Utah.

This direct funding is complemented by substantial expected tax benefits. TXN anticipates receiving an estimated $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for qualified U.S. manufacturing investments. Furthermore, up to $10 million is proposed for workforce development efforts in Texas and Utah. The company's stated goal is to grow its internal manufacturing to more than 95% by 2030, making this government support vital for building that geopolitically dependable, 300mm capacity at scale.

Key Customers

Texas Instruments Incorporated (TXN) serves a vast customer base, with its products being vital for nearly every type of electronic system. CEO Haviv Ilan specifically named leading U.S. companies that rely on their world-class technology and manufacturing expertise.

The revenue dependency on key end-markets as of late 2025 shows where the largest customer segments lie:

The Data Center Market, a subset of Enterprise Systems, is a major growth driver, projected to be a $1.2 billion run rate for TXN in 2025, growing above 50% year-to-date in Q3 2025. The automotive sector, despite being the largest revenue contributor, showed a slower pace of recovery compared to Industrial and Data Center segments.

Equipment and Raw Material Suppliers for 300mm Fabs

The expansion includes three new 300mm wafer fabs: SM1 and SM2 in Sherman, Texas, and LFAB2 in Lehi, Utah. These investments are explicitly intended to give TXN greater control over its supply chain. The new facilities are designed to utilize advanced 300-mm equipment and processes to further reduce waste, water, and energy consumption. While the search results confirm the existence of a 'strong network of existing suppliers' supporting these mega-sites, specific names of equipment or raw material suppliers for the 300mm fabs are not detailed in the available 2025 data.

Technology Collaboration with NVIDIA

Texas Instruments Incorporated (TXN) has a strategic collaboration with NVIDIA focused on enabling next-generation AI data centers. This partnership centers on developing advanced power management and sensing technologies to support 800-volt high-voltage direct current (HVDC) power distribution systems. This shift is necessary because the power required per data center rack is predicted to increase from 100kW today to over 1MW in the near future, a load that traditional 48V systems cannot scale to support practically. The goal is to deliver power more efficiently, compactly, and scalably to support NVIDIA's future AI infrastructure builds.

Global Network of Authorized Distributors

Texas Instruments Incorporated (TXN) serves over 100,000 customers globally. However, only about 80% of revenue is derived from direct sales channels, including TI.com. The authorized distribution network is crucial for reaching the remaining customer base and providing assured authenticity and manufacturer-backed support.

The key authorized distributors providing access across major regions include:

• Arrow Electronics (in all regions except Japan)
• Digi-Key Electronics
• Mouser Electronics
• Rochester Electronics (for obsolete or surplus products)

TXN holds a solid 19% of the analog semiconductor market, a segment heavily supported by this distribution channel. Other specialized channels include Spirit Electronics for Aerospace & Defense customers.

Finance: review Q4 2025 inventory levels against the 231 days reported at the end of Q2 2025 by end of January 2026.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Key Activities

Texas Instruments Incorporated (TXN) focuses its key activities on high-volume, cost-efficient manufacturing of its core products, massive capacity expansion, continuous product innovation, and strengthening direct customer engagement.

Manufacturing analog and embedded processing chips is central to the operation. Texas Instruments Incorporated produces analog and embedded processing chips vital for nearly every electronic system. For the second quarter of 2025 (Q2 2025), the Analog Products segment generated $3.5 billion in revenue, marking an 18% year-over-year increase. Embedded Processing saw a 10% year-over-year growth in the same period. The company's internal manufacturing rate target is to exceed 95% by 2030.

The company is engaged in massive capital investment in 300mm wafer fabs. Texas Instruments Incorporated announced plans to invest over $60 billion across seven U.S. semiconductor fabs at three mega-sites in Texas and Utah. The Sherman, Texas mega-site alone includes an investment of up to $40 billion for four fabs: SM1 and SM2 are already underway, with SM3 and SM4 planned. The first new fab in Sherman, SM1, is expected to start initial production in 2025. Construction on the exterior shell of SM2 is complete. The Lehi, Utah site includes the LFAB2 fab, which is continuing construction. This investment is supported by a preliminary agreement for up to $1.6 billion in direct funding through the U.S. CHIPS and Science Act.

For the trailing twelve months ending Q2 2025, Texas Instruments Incorporated invested $4.9 billion in capital expenditures. The company has revised its capital expenditure outlook for 2026 to a range of $2 billion to $5 billion.

Here's a look at the scale of the capital commitment:

Research and development (R&D) is a continuous activity to expand the product portfolio. For the twelve months ending September 30, 2025, Texas Instruments Incorporated's research and development expenses reached $2.053 billion. This represented a 6.48% increase year-over-year for that period. Quarterly R&D for Q3 2025 was reported at $518.0 million. Over the past 12 months ending Q2 2025, the investment in R&D and SG&A totaled $3.9 billion.

The focus on R&D spending relative to revenue is significant:

• R&D as a percentage of revenue was cited as 12% in early 2025.
• The company has over 80,000 products in its portfolio.
• R&D expenses for Q3 2025 were $518.0 million.
• R&D expenses for Q2 2025 were $527.00 million.

Direct-to-customer sales and technical support via TI.com is a key channel strategy. Texas Instruments Incorporated markets and sells through direct sales channels, including its website. In 2024, about 80% of the company's revenue was transacted directly with customers. This direct channel penetration has increased significantly from about a third of the business in 2019. The customer base is broad, encompassing over 100,000 customers.

Finally, strategic restructuring to close older 150 mm fabs is an ongoing activity to optimize the manufacturing footprint. Texas Instruments Incorporated is in the final phase of a multi-year transition to shutter its remaining 150mm wafer manufacturing lines in Dallas and Sherman, Texas. This restructuring involves workforce reductions, with 163 employees laid off in December 2025 and another 20 scheduled for April 2026 at the Dallas DFAB worksite. The production from these older fabs, which was approximately $1.5 billion annually, is being transferred to the newer 300mm fabs.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Key Resources

You're looking at the core assets Texas Instruments Incorporated (TXN) relies on to run its business as of late 2025. These aren't just line items; they are the foundational elements driving their competitive edge in the semiconductor space.

Proprietary 300mm wafer manufacturing technology

Texas Instruments Incorporated is heavily investing to secure its long-term cost advantage and supply chain control through internal 300mm manufacturing. This strategy is centered around building and ramping several large-scale, connected fabs across three manufacturing mega-sites in Texas and Utah. Production from the first Sherman fab (SM1) is expected in 2025. This complements existing 300mm fabs like DMOS6 (Dallas) and the ramping RFAB1 and RFAB2 (Richardson, Texas), and LFAB (Lehi, Utah). The total potential investment in the Sherman site alone includes up to $40 billion for four fabs (SM1-SM4). This effort is supported by up to $1.6 billion in CHIPS Act funding.

Extensive intellectual property (IP) and design library

The company maintains a technically diverse patent portfolio, which is among the largest in the semiconductor industry, reflecting decades of foundational innovation and long-term investment in research and development. The IP is heavily focused on analog circuits, embedded systems, and semiconductor manufacturing.

T12M Capital Expenditures of $4.9 billion (as of Q2 2025)

Capital expenditures reflect the intensive investment phase Texas Instruments Incorporated is undergoing to build out its manufacturing capacity. This spending is a direct commitment to future production scale.

Broad portfolio of over 80,000 analog and embedded products

Texas Instruments Incorporated's product breadth is a significant barrier to entry for competitors, serving a massive customer base with long-lifecycle products. The portfolio is the core offering across its two main segments.

• Total Products: Over 80,000 products.
• Customer Base: Serves over 100,000 customers.
• Analog Revenue Share (2024): Approximately 78% of total revenue.
• Analog Market Share: Commanding 19% share in its core segment.
• Embedded Processing Market Share: Approximately 11% share.

Highly skilled engineering and technical talent

The company's ability to innovate and maintain its technology advantage is directly tied to its human capital. This talent pool is supported by substantial, ongoing investment in research and development.

• Total Employees (as of November 2025): 15,000.
• R&D Investment (2024): $1.96 billion.
• R&D as Percentage of Revenue (2024): 12.5% of revenue.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Texas Instruments Incorporated (TI) holds such a strong position in the semiconductor world, especially as the industry navigates supply chain shifts. These aren't just marketing points; they are backed by massive capital commitments and long-standing product strategies.

Long-term supply assurance via U.S. 300mm manufacturing

This is about de-risking the supply chain for critical components. Texas Instruments Incorporated is putting its money where its mouth is, committing more than $60 billion across seven new U.S. semiconductor fabrication plants (fabs) in Texas and Utah. This is the largest investment in foundational semiconductor manufacturing in U.S. history, period. The Sherman, Texas mega-site alone is slated for up to $40 billion in investment, covering four fabs (SM1, SM2, SM3, and SM4). The goal is clear: these facilities will manufacture hundreds of millions of U.S.-made chips daily. To be fair, this massive build-out means capital expenditures are elevated, but the payoff is control; TI is targeting sourcing more than 95% of its wafers internally by 2030, with over 80% of that volume running on 300mm wafers. The U.S. market remains its largest, accounting for 38% of total revenue in 2024.

Broadest portfolio of analog and embedded chips in the industry

When you need a chip to manage power, sense a signal, or provide core digital control, TI wants to be the first place you look. Their portfolio is vast, encompassing more than 80,000 products. This breadth is what keeps them indispensable across diverse end markets. For context, in 2024, the Analog segment alone brought in $12.16 billion, making up about 78% of the company's total revenue, while the Embedded Processing segment added $2.53 billion, or roughly 16%. Even with a recent market slowdown, Q2 2025 revenue hit $4.45 billion, showing a 16% increase from the prior year's second quarter. Analog and embedded processing products, in total, drive more than 80% of the company's top line. That's a lot of silicon to choose from.

Low-cost production from larger 300mm wafers (defintely a cost advantage)

The move to 300mm wafers isn't just about volume; it's about unit economics. Simply put, larger wafers mean more chips per run, which drives down the cost per die. TI claims its vertically integrated 300mm fabs slash costs by 30% when compared to their older 200mm facilities. This cost structure, combined with their scale, helps maintain strong profitability. For instance, in 2024, the gross profit was $9,094 million on revenue of $15,641 million, equating to a gross margin of approximately 58.1%. This efficiency is crucial for long-term shareholder value. Here's a quick look at how the core segments contributed to that margin profile in 2024:

Robust product quality and longevity for industrial/automotive use

For the markets that demand reliability-like industrial controls and vehicles-product life matters more than the latest speed bump. TI knows this; industrial and automotive markets together accounted for about 70% of revenue in 2024. Their commitment to continuity is baked into their policy: standard product life cycles are typically 10 to 15 years, and often longer. For the most demanding sectors, automotive or high-reliability products aren't even considered for obsolescence unless they've been in production for less than 10 years or haven't seen sales in the last seven years. Plus, they are innovating for reliability; for example, new automotive clocks based on BAW technology are claimed to be 100 times more reliable than traditional quartz clocks.

Comprehensive design tools and technical support for engineers

Getting a design right the first time saves everyone time and money. TI backs its 80,000+ product portfolio with a deep ecosystem of support. Engineers use their free tools to accelerate time to market, predicting design behavior without needing a physical prototype first. You can leverage tools like WEBENCH® Circuit Designer for power supplies or the PSpice® for TI simulation suite, which boasts one of the largest model libraries in the industry. For embedded development, the Code Composer Studio™ IDE helps debug applications for their microcontrollers. Furthermore, the company supports its massive customer base-over 100,000 customers-with direct technical help, including the TI E2E™ design support forums. For instance, the MSPM0 MCU portfolio alone offers over 100 cost-effective MCUs with scalable configurations.

Finance: draft 13-week cash view by Friday.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Customer Relationships

Texas Instruments Incorporated maintains a multi-faceted approach to customer relationships, balancing high-touch engineering support with broad digital accessibility.

Dedicated field application engineers (FAE) for technical support are crucial for design-ins, especially as the company focuses on high-growth areas.

High-touch, direct sales model for large customers is evident in the relationships with major players in the electronics ecosystem, such as Apple, Ford, and SpaceX. This direct engagement supports the complex needs of these key accounts.

The company's Q3 2025 performance highlights the success in these core markets, which rely heavily on this direct support structure:

Self-service and e-commerce platform via TI.com serves as a critical channel for a wider base of designers and manufacturers.

Extensive online technical documentation and training support the self-service model, enabling rapid prototyping and design adoption.

• TI.com hosts investor relations information, including the Q3 2025 revenue announcement of $4.74 billion.
• The company's trailing 12-month Cash Flow from Operations reached $6.9 billion as of Q3 2025.
• The data center business, currently a single-digit percentage of total sales, is expected to reach 20% of sales in the future.

Long-term, strategic relationships with key industrial partners are cemented by the company's commitment to capacity and supply assurance.

Texas Instruments Incorporated confirmed plans to invest over $60.00 billion in expanding its U.S. semiconductor manufacturing capacity, supported by up to $1.61 billion in U.S. CHIPS and Science Act funding.

This long-term investment strategy underpins customer confidence, as evidenced by the 22nd consecutive annual dividend increase in September 2025, raising the payout to $1.42 per share.

The partnership ecosystem includes technology collaborators in areas like Functional Safety, Gallium Nitride (GaN), and Edge AI, with a specific focus on entities creating integrated circuits (ICs) and advanced semiconductor materials.

The trailing 12-month Free Cash Flow as of Q3 2025 was $2.4 billion.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Channels

You're looking at how Texas Instruments Incorporated (TXN) gets its products-the Analog and Embedded Processing chips-into the hands of its over 100,000 customers. The strategy heavily favors a direct approach, which is a key differentiator in the semiconductor space.

Direct sales force (accounts for about 80% of revenue)

The core of the distribution strategy is the direct sales team. As of the 2024 fiscal year, about 80% of Texas Instruments Incorporated's total revenue was generated through these direct channels. This focus reflects a multi-year investment in building closer relationships with customers to capture more of their design projects.

The scale of the business means this direct channel handles massive volume. For context, applying this split to the full-year 2024 revenue of $15.641 billion gives you a sense of the direct channel's magnitude:

TI.com e-commerce platform for direct customer orders

The TI.com website is explicitly bundled into that 80% direct revenue figure. Texas Instruments Incorporated has been actively investing in new and improved capabilities for its website and e-commerce functions to support direct ordering, inventory programs, and logistics. This digital front door is critical for servicing the broad customer base.

Global network of authorized third-party distributors

The remaining portion of sales moves through a global network of authorized third-party distributors. In 2024, these distributors accounted for approximately 20% of the company's total revenue. While this is the smaller piece of the revenue pie, it remains an important route to market, especially for smaller orders or specific geographic coverage.

• Distributor-sourced revenue in 2024 was approximately $3.128 billion based on the 2024 total revenue of $15.641 billion.
• Distributors carry competing product lines, which is a noted operational consideration.

Regional sales offices across all major geographies

The direct sales force is supported by a physical presence across key regions. Geographically, the United States accounted for 38% of total revenue in 2024, while Europe, the Middle East, and Africa accounted for 22%. China was 19%, Japan was 8%, and the rest of Asia was 11% in 2024. These offices house the sales teams driving the direct revenue.

Technical support and design centers worldwide

Investments in the direct channel also include capabilities to directly support customers, which encompasses technical support and design centers. These centers help customers integrate Texas Instruments Incorporated's products, which is intended to strengthen market reach and secure more design wins, leading to higher product sales per design.

• The company employed about 34,000 people worldwide as of December 31, 2024.
• Approximately 90% of those employees were in R&D, sales, or manufacturing, supporting the technical and sales infrastructure.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Customer Segments

You're looking at the core of Texas Instruments Incorporated's (TXN) business, which is its incredibly broad and deep customer base. Honestly, the sheer scale is what sets them apart in the semiconductor world.

Texas Instruments Incorporated serves over 100,000 diverse customers globally, supported by a portfolio of approximately 80,000+ products. As of late 2025, the company's revenue generation is heavily weighted toward specific, high-value industrial and automotive applications. For instance, in the first quarter of 2025, these two segments combined represented 70% of total sales, showing where the bulk of the business stability comes from.

The customer base is geographically diverse, with approximately 60% of the company's revenue generated from customers headquartered outside the United States.

Industrial Electronics Companies

Industrial electronics companies remain the largest end market for Texas Instruments Incorporated's analog and embedded processing chips. This segment is crucial for factory automation, power management, and general industrial control systems. Following a period of inventory digestion, this market showed a strong rebound in the latter half of 2025. In the third quarter of 2025, revenue from the Industrial Market increased about 25% year-over-year (Y/Y). This recovery is a key driver for the company's overall performance, especially as capital spending in industrial automation continues to accelerate.

Automotive Manufacturers

Automotive manufacturers represent a significant, though sometimes more cyclical, segment. Texas Instruments Incorporated's components are essential for advanced driver-assistance systems (ADAS), electric vehicle (EV) power management, and in-vehicle infotainment systems. While the automotive market saw a low-single-digit increase year-over-year in Q1 2025, it showed sequential growth of about 10% in Q3 2025. Management has noted that this segment has not fully recovered to the pace of the industrial segment, but the long-term trend toward vehicle electrification provides a solid foundation.

Personal Electronics

The personal electronics segment, which includes smartphones and various consumer devices, is characterized by seasonality and shorter product cycles. This market experienced a notable contraction in early 2025, declining by the mid-teens year-over-year in Q1. However, by Q3 2025, this segment showed a strong rebound, growing around 25% year-over-year, indicating a seasonal pickup or inventory restocking.

Communications Equipment and Enterprise Systems

This segment is currently experiencing some of the fastest growth velocity, largely fueled by massive data center buildouts necessary for artificial intelligence (AI) infrastructure. Communications Equipment revenue saw an increase of about 45% Y/Y in Q3 2025, and Enterprise Systems grew about 35% Y/Y in the same period. The data center market, specifically, is booming; Texas Instruments Incorporated estimates this area is running at roughly a $1.2 billion annual run rate in 2025, growing over 50% year-to-date. The company plans to break out the data center market as a separate reported segment starting in Q1 2026 due to its increasing significance.

Here's a quick look at the reported year-over-year segment performance from the third quarter of 2025, which shows the current demand landscape:

The core of Texas Instruments Incorporated's customer strategy is built on serving these diverse, yet interconnected, markets with its analog and embedded processing chips. The company's focus on maintaining capacity and inventory, even amid cautious near-term guidance, reflects confidence in the long-term demand from these 100,000+ customers.

• The company's Analog Revenue grew 16% year-over-year in Q3 2025.
• Embedded Processing Revenue increased 9% Y/Y in Q3 2025.
• The data center business is expected to reach a 20% share of total sales in the future, up from a single-digit percentage currently.

Finance: draft a sensitivity analysis on the impact of a 5% sequential decline in the Automotive segment for Q4 2025 by Monday.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Cost Structure

High capital expenditures (CapEx) for new 300mm fabs

Texas Instruments Incorporated (TXN) is undertaking a massive capital investment program focused on building out domestic 300mm wafer fabrication capacity. The total planned investment across seven new U.S. semiconductor fabs in Texas and Utah exceeds $60 billion. Specifically, the largest mega-site in Sherman, Texas, includes an investment of up to $40 billion for four fabs, with SM1 and SM2 already underway as of mid-2025. For the trailing twelve months ending Q2 2025, capital expenditures totaled $4.9 billion.

Significant manufacturing and raw material costs

Manufacturing costs remain a significant component of the cost structure, evidenced by the need for strategic price adjustments. The Cost of Goods Sold (COGS) margin increased from 26.6% in 2022 to 31.9% in 2024, reflecting higher manufacturing costs and lower economies of scale during the revenue decline. The August 2025 price hikes, impacting over 60,000 part numbers, were partly attributed to rising material costs, specifically for high-purity silicon wafers. The company's gross margin in Q2 2025 stood at 57.9%.

R&D and SG&A expenses, T12M totaling $3.9 billion (as of Q2 2025)

Operating expenses reflect ongoing investment in innovation and market reach. Over the trailing twelve months ending Q2 2025, Research & Development (R&D) and Selling, General & Administrative (SG&A) expenses totaled $3.9 billion. This spend represented 23% of revenue on a T12M basis for the same period. For the second quarter of 2025 alone, operating expenses were $1.01 billion, up 5% from the year prior.

Costs associated with closing older 150 mm manufacturing sites

The transition to 300mm technology necessitates the closure of older capacity, which carries associated workforce costs. Texas Instruments Incorporated (TXN) is reaching the final steps of a planned, multi-year transition to close its remaining 150-millimeter facilities in Dallas and Sherman, Texas. This has involved workforce reductions. For instance, 163 employees working on the 150mm wafer production line at the Dallas DFAB site were notified of a December 12, 2025, layoff, with an additional 20 employees notified of an April 2026 layoff. The company also announced layoffs in its China division.

Labor costs for a global, specialized workforce

Maintaining a specialized global workforce is a core cost. The massive U.S. fab expansion is projected to support more than 60,000 new U.S. jobs. The workforce adjustments related to the 150mm facility closures saw nearly 400 employees laid off in the U.S. in December 2025, according to reports. The company also hired 71 H-1B visa workers in the first half of 2025.

• The transition to 300mm wafers is key to reducing per-unit costs by approximately 20-30% compared to older 200mm processes.
• The company sells products to over 100,000 customers globally.
• The company returned $6.7 billion to shareholders through dividends and share repurchases over the trailing twelve months ending Q2 2025.

Texas Instruments Incorporated (TXN) - Canvas Business Model: Revenue Streams

You're looking at the core ways Texas Instruments Incorporated (TXN) brings in money as of late 2025, based on the most recent full-year figures and near-term projections. Honestly, the story remains dominated by their core semiconductor businesses.

The primary revenue drivers for Texas Instruments Incorporated are clearly segmented, with Analog products being the bedrock of the business. For the fiscal year 2024, this segment brought in $12.16 billion, which represented approximately 77.74% of the total 2024 revenue of $15.641 billion. This is the segment you need to watch for overall health.

Next up is the Embedded Processing segment. In 2024, this area generated $2.53 billion. That works out to about 16.17% of the total 2024 revenue. It's smaller than Analog, but still a significant piece of the pie.

The Data Center market is the clear near-term growth story. As of late 2025, Texas Instruments Incorporated CEO Haviv Ilan stated that revenue from this segment is projected to hit an annual run rate of $1.2 billion for 2025, reflecting growth over 50% year-to-date. This segment is becoming a really important chunk of business.

Here's a quick look at the 2024 segment revenue breakdown:

The remaining revenue stream comes from what Texas Instruments Incorporated calls the Other segment. In 2024, this segment generated $947 million. This bucket includes a few distinct product lines, and you should know what they are:

• Sales of DLP products, which are used in various display and light control applications.
• Education technology products, specifically calculators, like the TI-30X IIS and the TI-Nspire family.
• Custom ASICs (Application-Specific Integrated Circuits) solutions developed for specific clients.

Licensing and royalty income from intellectual property is generally captured within the revenue reported for these product lines or the general corporate revenue, as no separate, material figure for just licensing and royalties was explicitly broken out alongside the main product segments for the 2024 period. The focus for Texas Instruments Incorporated is definitely on the semiconductor sales.

Finance: draft 13-week cash view by Friday.