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Recurring lenses.

Laser chokepoint

37

Tickers: SIVE · AXTI · AAOI · LITE · POET · COHR · SOI · IQE · JBL · MRVL

2026-05-25
SIVE has highest possible upside, potentially becoming the next LITE, with laser chokepoints enabling downstream TAM expansion and vertical integration.
2026-05-25
Sivers is undervalued relative to its private market peers in the silicon photonics space, as it provides upstream lasers for frontier CPO companies valued at $4B-15B+. Upcoming M&A, NASDAQ listing, and ETF inflows could close the valuation gap.
2026-05-24
SIVE, Foci, Shunsin, and MSSCorp are top picks for co-packaged optics (CPO), expected to grow significantly over the next 2 years.

CPO

45

Tickers: SIVE · FOCI · LITE · SOI · AAOI · SHUNSIN · MSSCORP · AXTI · IQE · SNDK

2026-05-25
Sivers is undervalued relative to its private market peers in the silicon photonics space, as it provides upstream lasers for frontier CPO companies valued at $4B-15B+. Upcoming M&A, NASDAQ listing, and ETF inflows could close the valuation gap.
2026-05-25
SIVE is at an early stage with upcoming institutional inflows from Blackrock, Vanguard, MSCI, NASDAQ next week and a NASDAQ listing soon, positioning it for significant growth similar to early AXTI or LITE.
2026-05-25
SIVE has successfully penetrated the design systems of many top CPO architectures, partnering with industry leaders like Ayar, Lightelligence, Lightmatter, and Celestial.

Space & defense

11

Tickers: SIVE · AXTI · YSS · RTX · NVDA · MU · BTC · CRCL · JPM · BOA

2026-05-25
Sivers is undervalued relative to its private market peers in the silicon photonics space, as it provides upstream lasers for frontier CPO companies valued at $4B-15B+. Upcoming M&A, NASDAQ listing, and ETF inflows could close the valuation gap.
2026-05-23
US government backing via CHIPS Act funding and involvement in defense supply chains and US-Sweden tech MOU positions SIVE for growth.
2026-05-23
Sivers supplies lasers for CPO and 1.6T, positioning to become next Lumentum by expanding into optical engines and transceiver IP during CPO supercycle.

Index flow

14

Tickers: SIVE · UPWK · VCX · NBIS · ASTS · KORU

2026-05-25
Sivers is undervalued relative to its private market peers in the silicon photonics space, as it provides upstream lasers for frontier CPO companies valued at $4B-15B+. Upcoming M&A, NASDAQ listing, and ETF inflows could close the valuation gap.
2026-05-25
$SIVE is extremely early; institutional capital is about to enter due to index inflows next week and subsequent NASDAQ listing.
2026-05-25
Sivers is the largest beneficiary of NASDAQ index inclusion (OMX Stockholm) and US-Sweden government collaboration, leading to passive institutional inflows from Vanguard/Blackrock and fundamental support from CHIPS Act awards.

InP substrate

18

Tickers: AXTI · SIVE · COHR · LITE · AAOI · GOOGL · SMTOY · LPK · IQE · SOI

2026-05-25
SIVE has successfully penetrated the design systems of many top CPO architectures, partnering with industry leaders like Ayar, Lightelligence, Lightmatter, and Celestial.
2026-05-24
Sivers is a chokepoint and bottleneck for leading CPO players due to its architecturally unique CW lasers, with volume ramp expected in 2027, making current valuation metrics misguided.
2026-05-17
Long-term holdings in photonics infrastructure (lasers, glass substrates, US supply chain, epiwafers) with asymmetric risk/reward.

Neocloud

21

Tickers: NBIS · IREN · CRWV · GOOGL · APLD · AXTI · SOI · SIVE · IQE · MU

2026-05-24
AI capex projected to reach $3-4 trillion annually by 2030, benefiting companies controlling key AI supply chain nodes like photonics, lasers, epiwafers, neoclouds, and memory.
2026-05-19
NBIS is the better neocloud with actual Nvidia financing and equity-appreciating structures, while IREN faces dilution and is flat/negative YTD.
2026-05-15
Holding growth companies like NBIS long-term is superior to trimming due to compounding and tax implications, and NBIS is positioned to become the next hyperscaler.