BlackRock lifts Nova stake to 6.8% with $262M buy as AI fuels chip demand

What's the deal? BlackRock, the world's largest asset manager, has bought NovaDealroom has a profile for this one. Try Dealroom → shares worth more than $262 million (US$204.7M) since the start of the year, according to a filing from the Israeli chip equipment maker. It acquired roughly 560,000 shares at an average price of about $475 (US$370.9) since its previous disclosure.

What does Nova do? The company designs, develops, and manufactures process control systems used in semiconductor manufacturing, supplying some of the world's largest chipmakers. Its stock has climbed 295% over the past five years, giving Nova a market capitalisation of about $11.8 billion (US$9.21B).

Why now? The purchase lifts BlackRock's stake to 6.8% from 5.26%, making it one of Nova's largest holders. It comes as Nova reports record results, with first-quarter 2026 revenue of $235 million, up 10% from $213 million a year earlier, and net profit rising 6% to $69 million.

Nova has no controlling shareholder. Other major holders include HarelDealroom has a profile for this one. Try Dealroom → with 10%, FidelityDealroom has a profile for this one. Try Dealroom → with 9%, MigdalDealroom has a profile for this one. Try Dealroom → with 7.8%, and Menora Mivtachim Provident FundsDealroom has a profile for this one. Try Dealroom → with 6.3%.

The caveat: As one of the world's largest providers of exchange-traded funds, BlackRock holds thousands of companies through passive strategies that track indices rather than reflect active bets. The move may partly reflect adjustments to funds tracking indices that include Nova, such as the Nasdaq, the PHLX Semiconductor Sector Index, and Israel's TA-35 and TA-125. But BlackRock also runs hundreds of billions in actively managed equity funds, so the increase could signal a genuine investment decision.

The signal: Dual-listed on the Tel Aviv Stock Exchange and Nasdaq, Nova is riding investor expectations that demand for advanced chips and AI infrastructure will keep climbing. Its shares are up 15% in 2026 despite a 22% drop in July during a broader semiconductor selloff, underscoring how sensitive the sector remains to swings in AI sentiment.

Read more: calcalistech.com

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