STOCKHOLM, May 13, 2026, 14:03 CEST
Sivers Semiconductors AB (publ) surged Wednesday, picking up momentum after MSCI tagged the Swedish chipmaker as one of the new names in its Sweden small-cap index. The move throws more focus on a company eyeing a possible Nasdaq New York debut. According to MSCI’s review, Sivers Semiconductors will join the MSCI Sweden index as part of its Global Small Cap Indexes.
Shares jumped 31.3% to 56.65 Swedish crowns in delayed Nasdaq Stockholm action, according to MarketScreener data. That surge followed MSCI’s announcement a day earlier: changes from its May index review will be in place after markets close on May 29. MarketScreener
Sivers is pushing to attract more investors even as it lines up fresh funding and gets its books ready for a look from U.S. regulators. On May 11, shareholders signed off on a private placement—8.62 million ordinary shares at 14.50 crowns apiece—effectively sidestepping the typical rights of existing holders to buy first.
The company expects the issue to boost share capital by 4.31 million crowns, attracting both Swedish and international investors like DNB Disruptive Opportunities, DNB Nordic Small Cap, Storebrand Sverigefond, Alcur Fonder, Atlant Fonder, Cicero Fonder, Hudson Bay Capital Management, and Waterside AM.
Back in April, Sivers indicated the share placement would bring in around 125 million crowns before costs, with dilution estimated near 2.5% on a fully diluted basis. According to the board, the price emerged from arm’s-length negotiations with investors—ending up at a slight discount to the 10-day volume-weighted average right before the news, but still above what the 30-day average showed.
The funds are set aside for photonics and wireless gear. Photonics moves data with light—think indium phosphide lasers and optical amplifiers, which Sivers says are aimed at AI data centers and LIDAR. There’s also a focus on millimeter-wave beamformers and high-frequency radio chips, parts used in satellite, 5G, and defense applications. Chief Executive Vickram Vathulya described the investors as “a strong focused group.” The new capital, he said, gives Sivers more fuel as it targets its “next inflection point.” Sivers Semiconductors
The U.S. listing is still the headline target. Back in April, Sivers said it was weighing a dual listing on Nasdaq New York, with plans to stay incorporated in Sweden. The company is also moving to upgrade its 2024 and 2025 consolidated accounts to PCAOB standards, the audit requirements for U.S. public companies.
The audit process has already pushed the schedule back. Sivers delayed its 2025 annual report release until May 15, rescheduled its annual general meeting for June 15, and now plans to report first-quarter results on May 20. According to the company, the more extensive audit review might result in changes to revenue recognition, inventory valuations, and share-option expenses. Still, Sivers said it doesn’t expect these adjustments to have a material effect on its financials or results.
The operating story at Sivers is gathering steam. Last week, the company revealed a $1.5 million development deal with Tachyon Networks, aiming to build a 60 GHz millimeter-wave transceiver for fixed wireless access—essentially, using radio instead of fiber for broadband. Harish Krishnaswamy, who leads Sivers’ wireless arm, described the 60 GHz project as a “lower risk path.” Tachyon CEO Hal Bledsoe talked up a “clear and scalable path forward” for both firms. Sivers Semiconductors
Sivers is angling for attention in an increasingly competitive semiconductor landscape. U.S.-listed names like Coherent, Lumentum, and MACOM have a footprint in data-center, optical comms, or RF segments—key battlegrounds as investors widen their focus on AI infrastructure spend beyond Nvidia. Coherent Inc Lumentum
The sector’s story isn’t one-sided. On Wednesday, Reuters pointed out that the Philadelphia SE Semiconductor Index has surged 64% since March 30—well outpacing the S&P 500’s approximate 17% climb. Steve Edwards at Morgan Stanley Wealth Management described the trade as a “perfect mix” of technicals and fundamentals. But Peter Tuz at Chase Investment Counsel struck a more cautious note, questioning if parts of the rally are getting “too ebullient.” Reuters
Risks remain significant here. The annual report hasn’t landed yet. Nasdaq New York? Still just under review. Meanwhile, Sweden’s short-sale data tracks professionals betting against the surge—Voleon Capital Management held short positions equal to 1.86% of Sivers’ shares as of May 11, and Two Sigma Investments was at 1.78% on May 8. Finansinspektionen
The April listing announcement has raised fresh questions about market conduct. A prosecutor with Sweden’s Economic Crime Authority told Affärsvärlden that Nasdaq ought to look into whether word of Sivers’ U.S. listing plans got out ahead of the company’s confirmation, MarketScreener reported.
Next up: the annual report lands May 15, then Q1 results hit on May 20, with MSCI changes closing out the month. Shares have already shifted. Now, it’s a matter of getting the filings in line.
