Ayar Labs said on June 3 that it had joined the NVIDIA NVLink Fusion ecosystem, bringing its co-packaged optics, or CPO, technology into rack-scale AI interconnects. The announcement quickly shifted attention to Sivers Semiconductors (SIVE), identified in the source material as Ayar Labs’ only publicly known supplier of InP laser arrays.
That supply link is why market commentator Serenity highlighted the company without naming it directly, posting only, “Can anyone guess the name?” Industry followers had little trouble connecting the dots. SIVE makes InP CW DFB laser arrays that are integrated into Ayar Labs’ SuperNova light source, which in turn provides external light for TeraPHY silicon photonics modules.
NVLink Fusion adds optical partners in quick succession
Ayar Labs was not the only company to enter the ecosystem. On June 2, Lightmatter also announced it had joined NVLink Fusion and said it would deliver NVIDIA-compatible CPO and NPO, or near-packaged optics, products. The back-to-back announcements put new focus on how NVIDIA is assembling an optical interconnect stack around AI infrastructure.
Earlier this year, Ayar Labs completed a $500 million Series E round at a $3.75 billion valuation. Listed investors include NVIDIA, AMD, MediaTek, ARK Invest, and the Qatar Investment Authority. Ayar Labs CEO Mark Wade said AI infrastructure is being co-designed from the ground up and customers need more options to scale bandwidth efficiently. Ashish Karandikar, vice president of networking products at NVIDIA, said the combination of NVLink Fusion and Ayar Labs’ CPO technology allows customers to build heterogeneous AI factories.
SIVE jumped across two sessions and touched 110 SEK
SIVE shares have been moving sharply. On June 2, the company announced a strategic partnership with GlobalFoundries, and the stock surged by more than 50% in a single session, becoming the most actively traded name on the Stockholm exchange. The partnership will integrate SIVE’s laser arrays into GlobalFoundries’ SCALE CPO platform, targeting a pluggable optics market projected in the source material to reach $25 billion by 2030.
On June 3, after the Ayar Labs announcement, SIVE rose to an intraday record of 110 SEK before pulling back to close at 98.80 SEK. The stock traded between 92.65 SEK and 110.00 SEK, a swing of 17.5% during the day, and finished up just 1.39%. Its market capitalization stood at about SEK 29 billion, or roughly $2.7 billion, while the one-year return was reported at more than 2,200%.
Low InP yields keep attention on supply constraints
Serenity’s earlier analysis argued that SIVE may matter beyond Ayar Labs and could also sit upstream of companies such as Lightmatter, Celestial, and Lightelligence. The source places those firms in a valuation range of $4 billion to $15 billion.
SIVE is still unprofitable. Its Q1 2026 revenue was SEK 61.9 million, down 22% year over year, and net income remained negative. The core argument cited by Serenity is simple: under a CPO architecture, each AI rack requires more than 512 advanced light sources, while InP wafer yields are below 30%. With only a handful of suppliers able to scale production globally, SIVE is being viewed as a hard-to-replace chokepoint in the optical upstream segment.