Introduction#
Fabric.AI, previously known as StableX Technologies Inc., has announced the launch of its innovative MicroLED-based optical interconnect technology aimed at improving AI data centers. The company has also secured $21.5 million in funding to support this initiative.
New Technology Launch#
The centerpiece of this announcement is Fabric.AI's Neural I/O chip, developed in collaboration with Kopin Corporation. This chip utilizes MicroLED technology to replace traditional electrical connections in AI computing systems. By doing so, it aims to enhance data communication between computing units while lowering energy consumption compared to older methods that rely on copper or laser connections.
Partnership with Kopin Corporation#
As part of their partnership, Kopin Corporation will hold a 19.9% stake in Fabric.AI. The two companies will work together to develop and share new technologies and intellectual property. Kopin is noted for being the only producer of programmable MicroLEDs, and its stock has seen significant growth, increasing by 185% over the past year.
Funding Details#
Fabric.AI's recent funding round raised $21.5 million through a private placement of 21,500 shares of Series K convertible preferred stock, priced at $1,000 each. Each share comes with warrants that can be exercised immediately at an initial price of $2.51 per share, set to expire in five years. This funding will help Fabric.AI shift its focus from digital assets to AI infrastructure technologies.
Company Rebranding#
In conjunction with these developments, Fabric.AI has officially changed its name from StableX Technologies, Inc. The company will also begin trading under a new ticker symbol, FABC, on Nasdaq starting Wednesday. This rebranding reflects its commitment to advancing AI technologies and infrastructure.