Teradyne builds the automated test equipment that verifies semiconductors work before they ship, machines that sit at the end of every chip production line. Complexity is its friend: each new generation of processors, memory and AI accelerators requires more sophisticated and expensive testing. A second business sells collaborative robots through Universal Robots and autonomous warehouse robots, extending the company into factory automation. Founded in 1960 in Boston, Teradyne pairs cyclical equipment orders with a growing base of service revenue.