-- Kopin (KOPN) said Tuesday it has secured a $15 million initial development order from Fabric.AI (SBLX) to fund a demonstration chipset under a collaboration to develop MicroLED-based optical interconnect technology for artificial intelligence infrastructure.
Under the deal, Kopin said it will serve as the exclusive manufacturer of the chipsets and own a 19.9% stake in Fabric.AI.
The technology is designed to enable ultra-high-speed, low-power data transfer between GPUs and high-performance processors for smart data centers, potentially replacing traditional copper wiring, the company said.
Separately, Fabric.AI said it is in preliminary discussions with AI and hyperscale companies to integrate the interconnect technology with systems.
Fabric.AI also said it plans to raise about $21.5 million through a private placement of 21,500 shares of its series K convertible preferred stock priced at $1,000 per share, convertible at $2.51 per share and accompanied by warrants with the same exercise price.
The offering is expected to close around Wednesday, subject to customary conditions, the company said.
Kopin shares were down over 6% in Tuesday trading, while Fabric.AI shares were up more than 36%.
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