saveasART💎⛏️

Institucional validation just landed for $SIVE / $SIVEF Audun Wickstrand Iversen, portfolio manager at DNB Disruptive Opportunities, told Affärsvärlden that Sivers could be worth between 50 and 100 billion SEK. His thesis is exactly what we’ve been tracking. The key question is whether Sivers laser optics become part of AI datacenter infrastructure. He says that’s what’s been driving the explosive trading volume. And he thinks the answer is yes. A major Nordic institutional fund buys in, participates in the raise, and then goes on record saying 10x is within the range of outcomes, I hope this gives more people the confidence to invest in this amazing company. Long $SIVE 🇸🇪 That’s a 5 to 10x from current levels.

Thoughts on Nynomic ($M7U) at €145M MC: Caution: this is a numbers-heavy post where I walk through some of my modelling. No one’s really covered this on X since Nynomic doesn’t disclose subsidiary rev/margins. TLDR: Nynomic is very cheap at current 1.3x multiples vs metrology peers like $ONTO (10.7x) & $CAMT (13.8x). For a v. quick summary of the bull thesis: - Asymmetric exposure to photonics supercycle via their LayTec subsidiary - chokepoint in InP/GaN MOCVD via $AIXA ramp - $AIXA is 80–90% of global MOCVD Onto financials… -> By triangulating data points, I get to ~€15M revenue for LayTec in FY25: LayTec has ~800 installed reactors globally (based on customer list + historical $AIXA shipments + 25 years of sales) - New-reactor ASP: €95k / reactor - New reactors attached/yr (global MOCVD share, $AIXA + part of $VECO): ~100 units - New sensor revenue: 100 × €95k = ~€9.5M/yr - Service/software renewals: ~10–12% of installed base annually at €20–30k each = ~€1.5–3M/yr - Etch endpoint: ~€1–3M/yr -> Looking fwd to 2026: $AIXA Q126 orders were €171M at >65% opto mix. Call it €111M of opto equipment orders in a single quarter. If $AIXA’s FY26 opto revenue runs at ~€350M (conservative 62.5% of the €560M guide), and LayTec attaches at conservative 3–4% of reactor value on new orders: - That implies €10–14M of incremental LayTec revenue over the 2027–2028 recognition window. - So LayTec could reach €22–28M in FY27 layered on top of the ~€15M base I walked through above. Imo, the stock is starting to price in that inflection now. And consequently gives Nynomic a 1.3x EV/Sales multiple. That is very cheap against metrology pure-plays but fair against companies like Jenoptik who deal w/ photonics in Europe also. Imo, Metrology names would be a better/conservative comparison since the Nynomic group is ~80% photonics + ~20% metrology which acts as a drag on the financials. So I ultimately see Nynomic re-rating towards metrology names at least, like $ONTO/ $CAMT who have multiples of 10.7x & 13.8x. Especially if LayTec proves materially higher-growth and higher-margin than the wider Nynomic group. -> I currently hold a position in Nynomic.

All the semi bottlenecks you need to know: High-power, narrow-linewidth lasers Glass core substrates Silicon photonics 800V power delivery MLCCs Inductors HBM and advanced memory Advanced packaging Power shelves and busbars Hybrid bonding Grid transformers Gas turbines ABF substrates Advanced PCBs Thermal management and liquid cooling