Company Overview - byNordic Acquisition Corporation has signed a non-binding Letter of Intent to merge with Sivers Semiconductors AB's subsidiary, Sivers Photonics Ltd, which specializes in wireless and photonic integrated chips and modules for communications and sensor solutions [1][4] - Sivers Photonics designs and manufactures advanced semiconductor lasers primarily for AI applications in large data centers, optical communications, and optical sensing [2][3] Market Opportunity - The total addressable market for chip-to-chip connectivity in AI is estimated to reach $5 billion by 2027, with a served addressable market of up to $1 billion [3] - The demand for AI applications is projected to significantly increase processing capability and energy consumption, with data centers potentially using up to 9% of total electricity generated in the U.S. by the end of the decade [3] Technological Advancements - Sivers Photonics is a leader in tunable multi-wavelength lasers for direct on-chip integration, which are critical for generative AI, high-performance computing, and autonomous vehicles [3] - The application of silicon photonics (SiPh) is highlighted as a leading solution for data centers, offering faster data transmission, lower latency, and up to a 90% reduction in power consumption compared to traditional copper wire solutions [3] Strategic Partnerships and Validation - Sivers Photonics is engaged with major technology companies, including Fortune 100 firms and leading hyperscalers, validating its position as a key supplier in the generative AI space [4] - In 2023, Sivers Photonics received a milestone order from Ayar Labs for the qualification of volume production of its unique laser arrays [4] Future Plans - Upon completion of the merger, Sivers Photonics plans to establish its headquarters in Silicon Valley, CA, while maintaining manufacturing operations in the U.K. [5]
byNordic Acquisition Corporation Signs Letter of Intent for Business Combination with Sivers Semiconductors' Wholly Owned Photonics Subsidiary