Artificial Intelligence
POET Technologies Announces First Volume Purchase Order For Its Optical Engines
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TORONTO, May 11, 2023 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company”) (NASDAQ: POET | TSXV: PTK), the designer and developer of the POET Optical Interposer™ and Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, today announced the first volume production order for its optical engines placed with the Company’s 80%-owned joint-venture company, Super Photonics Xiamen (“SPX”). Valued at more than US$3 million, the purchase order was placed by Beijing FeiYunYi Technology Ltd. (”BFYY”), which will produce optical transceiver modules using POET-designed optical engines for sale to telecom and data center markets globally. This initial volume purchase order was placed against BFYY’s 3-year forecast of US$30 million in expected optical engine purchases.
With deep connections to the telecom industry in China, BFYY is investing heavily in transceiver module design and manufacturing to build, market and sell optical transceiver modules specifically focused on large telecom and data center service providers. The modules incorporate POET Optical Interposer-based optical engines which are assembled with components, tested and sold by POET’s 80%-owned JV company, SPX.
“We are pleased to partner with POET and Super Photonics to utilize their unique optical engines in our transceivers,” said Wei Zhang (Wesley Zhang), CEO of BFYY. “POET and Super Photonics have demonstrated the superior performance and design of these optical engines. There is ongoing close collaboration among our engineering and manufacturing teams to complete the design and start production. Feedback from our customers is extremely positive and we want to quickly ramp to high-volume production to service the telecom market.”
POET had previously announced POET ONE™, a single-chip optical engine solution incorporating complete transmit and receive functionalities for implementation in a 100G optical transceiver. The POET ONE optical engine offers significant performance advantages and minimizes the transceiver design cycle time for BFYY. In addition to the cost benefits of POET’s wafer-scale assembly, POET ONE will enable BFYY to speed the design and qualification cycle with customers and ramp to high-volume production and sales.
“With this purchase order, POET and SPX have both achieved major commercial milestones for our optical engines and for the companies overall. A production order of this size validates the commercial viability of our optical engines and other POET Optical Interposer-based products that are specifically designed to be scalable in volume, cost, and power consumption, well ahead of current industry demands,” said Vivek Rajgarhia, President and GM of POET and Vice-Chairman of SPX. “Our fundamental differentiation in bringing wafer-scale die attach, passive optical assembly, and chip-scale manufacturing represents the true “semiconductorization” of photonics. Our partnerships with world-class component vendors, combined with the POET Optical Interposer platform, allows us to serve the needs of customers like BFYY in a highly competitive market with a truly differentiated technology.”
POET and SPX expect to complete the design verification testing and reliability qualification of POET ONE by the fourth quarter of 2023 and then start production shipments to BFYY in early 2024.
Watch a video of POET’s Chairman and CEO Dr. Suresh Venkatesan discussing the agreement and more here:
About POET Technologies Inc.
POET Technologies is a design and development company offering integration solutions based on the POET Optical Interposer™, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. POET’s Optical Interposer eliminates costly components and labor-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the POET Optical Interposer brings value to any device or system that integrates electronics and photonics, including some of the highest growth areas of computing, such as Artificial Intelligence (AI), the Internet of Things (IoT), autonomous vehicles and high-speed networking for cloud service providers and data centers. POET is headquartered in Toronto, with operations in Allentown, PA, Shenzhen, China and Singapore. More information may be obtained at www.poet-technologies.com.
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s announced products and those of its customers.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions, which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the success of the Company’s announced products, the ability to design a product to the required specifications, the success of its customer’s products, the capabilities of its operations, including its joint venture and business partners to correctly gauge market needs and to produce products in the required amounts and on a timely basis. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its products to meet performance requirements, the failure to produce products on a timely basis or at all, the failure of its optical engines to be incorporated into its customer’s transceiver products, the failure of its customer’s products to achieve market penetration, operational risks including the ability to attract key personnel, and the ability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075
Artificial Intelligence
Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem
LONDON, May 24, 2024 /PRNewswire/ — Titans of Tech: Unrivalled era of A.I. led innovation for European Tech – No more excuses. GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.
Key takeaways from our report include:
The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.
Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels. With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”
Expert interviewsWhat does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.
Download full report: www.gpbullhound.com/articles/titans-of-tech-2024
EnquiriesFor enquiries, please contact: [email protected]
About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.
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Artificial Intelligence
Bybit Web3 Announces Upcoming IDO for Aperture Finance, Simplifying Web3 Finance
DUBAI, UAE, May 24, 2024 /PRNewswire/ — Bybit Web3, the Web3 division of Bybit – one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Aperture Finance ($APTR) on its Web3 platform.
“Bybit Web3 is thrilled to be partnering with Aperture Finance to bring their innovative IDO to our platform,” said Emily Bao, Bybit Web3 Evangelist. “Aperture Finance’s AI-powered solutions have the potential to revolutionize DeFi by simplifying complex transactions and making Web3 finance more accessible to a wider audience. We believe this IDO will be a great opportunity for our users to get involved in this groundbreaking project early on.”
Aperture Finance: Simplifying the complexities of Web3 finance
Aperture Finance is a pioneer in AI-powered intents. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s solver network significantly reduces barriers for DeFi users and enhances transaction efficiency.
IDO Details
IDO Subscription Period: May 24, 2024, 10AM UTC to May 28, 2024, 10AM UTCSnap Period: May 28, 2024, 10AM UTC to May 31, 2024, 10AM UTCReveal and Purchase Period: May 31, 2024, 10:15AM UTC to June 1, 2024, 10AM UTCListing Date: May 31, 2024, 10AM UTCToken Details
Token: APTRTotal Supply: 1,000,000,000Total Allocated to Bybit IDO: 6,666,667 APTREligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 300 USDT (Arbitrum Chain) throughout the Snapshot Period to participate in the IDO.Three (3) snapshots will be taken daily during the Snapshot Period.Maximum number of winners: 3,000For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 30 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the world’s top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.For media inquiries, please contact: [email protected] more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social Media
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Artificial Intelligence
Northern Data Group’s Peak Mining, announces purchase of a second 300MW data center location in Corpus Christi, Texas
The location expands on an adjacent 300MW site, purchased in December 2023 The site comes with an ERCOT-approved interconnect of 300MWConstruction already underway, with long-lead time items secured and energization scheduled for early 2025FRANKFURT, May 24, 2024 /PRNewswire/ — Peak Mining, part of the Northern Data Group, announces the purchase of a second 300MW ERCOT-approved site in Corpus Christi, Texas. The location is adjacent to the 300MW mining facility that is already under construction. The site also provides energy in the attractive low-cost power zone of Load Zone South of the ERCOT grid, known for its abundance of renewable (wind) energy.
The investment represents a significant step forward in Northern Data Group’s investment strategy, cementing expansion plans well beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate its expansion plans to become one of the largest bitcoin miners globally. The company will be deploying indoor, custom-designed, fully-integrated and liquid-cooled HPC data center systems to drastically improve deployment time and infrastructure cost, bringing Peak Mining to a leading position in the industry and preparing it for the future of HPC compute.
Saxet Infrastructure Group (“Saxet”) will act as construction manager for the design, build and energization of the substation. The Saxet team brings a strong track record of project management and deep expertise with the construction of HPC infrastructure.
Niek Beudeker, Managing Director, Peak Mining, commented: “The purchase of this second large site will significantly shorten our time to hashing and kick off one of the fastest mining expansions globally. We now have almost 700MW of sites in active development, that when fully fitted with our latest-generation hardware, could potentially provide up to 40EH of hash rate.”
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:”This second data center location demonstrates how Northern Data Group is able to harness the power and opportunity of HPC. Sustainability has been at the core of this further expansion into the US and thanks to the center’s ERCOT approved status, we will be able to scale our operations at speed, as the demand for digital assets continues to grow.”
Steven Quisenberry, Chief Executive Officer at Saxet Infrastructure Group, commented: We are excited to support Northern Data Group’s expansion in the ERCOT market and specifically to welcome them to the Corpus Christi area. The combination of base load industrial demand and significant renewable resources creates a unique opportunity for their portfolio. This is a terrific example of one of the largest, most advanced liquid cooled data centers in North America and we are proud to partner with Northern Data Group to bring their data center online.
Northern Data Group was advised on the transaction by Katten Muchin Rosenman LLP (Legal Counsel) and BitOoda Technologies LLC.
About Peak MiningPeak Mining, part of the Northern Data Group, is powering the future of the blockchain network. We deliver industry-leading operating and energy efficiency in bitcoin mining through the latest hardware alongside innovative technology and infrastructure. With our mining heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to power the mining network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Northern Data GroupNorthern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business divisons: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.
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