what did he say

Sorry to say, this was disappointing- Here it is
quick transcription

1st qtr update 5_13_24.wav

00:00:01 Speaker 1
Great. It's great to see you again.
00:00:03 Speaker 2
I am excited because there were some updates that you left us with last time that I'm looking to get more clarity on this time around, but before we dive into that, give the folks at home a quick overview.
00:00:12 Speaker 2
Of what is it that your.
00:00:13 Speaker 1
Company does my weight logic is a company that's based in Denver, Co we create chemistry poll.
00:00:21 Speaker 1
These polymers are turned into little components. They get used on the Internet to speed up the Internet. So when you have a problem at home and you have to turn your video off because you don't have the bandwidths, these types of technologies will solve that problem.
00:00:39 Speaker 2
And now I know last time we spoke, but also in your Q1 PR you mentioned you had some folks come and check out your live demo. So like what types of visitors come to see the live demo for your packed polymer module?
00:00:52
1st.
00:00:53 Speaker 1
This has been since we last talked about three months ago. This has been incredibly busy, incredibly exciting and yeah, the types of visits that we've had over 20 major corporations come look at our packaged polymer modulators and the reason being is, is the performance like we've indicated.
00:01:13 Speaker 1
All along has really been blowing people away now. I'm not going to go into the technical numbers, but it's certainly world class and it's what the data centers and what we call the hyperscalers are really looking for.
00:01:26 Speaker 2
Now I know you recently achieved world class performance on your podium material in the optical interconnect links. Can you elaborate on the implications of the data center industry standards, but also how you can use this in future applications as well?
00:01:41 Speaker 1
So if we think about what the Internet is, is it's like a mesh of fiber optic cables that go all over.
00:01:48 Speaker 1
The country.
00:01:48
Yes.
00:01:48 Speaker 1
Yeah. Think of it as like your Interstate highway and the data centers are the intersections. You know, that's where the traffic gets backed up and, you know, takes time. It's so different in the data.
00:02:00 Speaker 1
And actually what's been happening is, is the generative artificial intelligence, you know, they're really big, exciting push from companies with GPUs like NVIDIA. They've been generating a lot more information on the Internet. And so that's actually forced or driven to hyperscale as a data center.
00:02:20 Speaker 1
Is to upgrade their equipment and they're upgrading their equipment to what is known as little boxes called pluggable transceivers that work at speeds of 800 gigabits per second and beyond.
00:02:32 Speaker 1
And they're looking, these guys are looking for technologies to support the upgrades and our technology fits perfectly into the performance these guys are needed to upgrade, if you like, the intersections that traffic intersections, we call them data centers.
00:02:48 Speaker 2
Yeah. Now I know it's a little bit different than what you are doing, but doc, every month I check if my apartment building has fiber capabilities or not, and every month I'm disappointed.
00:02:57 Speaker 2
But that's OK.
00:02:59 Speaker 2
Let's keep it moving. Now. I know there's certain things you can tell. Certain things you can't. But I have to ask. Any insights on the types of strategic partnerships or collaborations that you're pursuing?
00:03:09 Speaker 2
Following the Q1 update that you gave.
00:03:11 Speaker 2
But also like, how are these partnerships gonna align with your growth objectives that you've laid out for the company?
00:03:17 Speaker 1
So first of all, a lot of the visitors, I mean these are big players, tier one players and so these are folks that are really taking a close look at this technology and that's really exciting. But in terms of the strategic partnerships, obviously what we have is an engine for a pluggable transceiver box. This is a box that's one inch wide and about.
00:03:38 Speaker 1
4 inches long and those folks we're partnering. We're partnering with silicon foundries.
00:03:45 Speaker 1
And I think I mentioned just a couple of months ago that our technology is now on 200mm silicon wafers. These are silicon wafers that are 8 inches in diameter. This is the commercial standard. And so we're really excited that our technology is being put on to this type of platform. And so yes.
00:04:05 Speaker 1
Boundaries as well as manufacturing facilities as well as packaging. So our focus, our key thing that we add to the industry is the chemistry is the polymer and we're partnering folks that really can help scale that in.
00:04:20 Speaker 2
Now I know in May you've got your annual shareholder meeting. Before I ask you about that one final update from the Q1 side, you went ahead and highlighted your contributions to the IPS R-I, which is your integrated photonic system. Rd. maps international. Can you discuss how these positions, right, how it kind of helps you with the integrated?
00:04:42 Speaker 2
Photonics industry and drive that long term growth opportunity for the company.
00:04:47 Speaker 1
Yeah. Yes, I can. So if we think we've all heard maybe some of us have heard of Moore's law that was in the silicon industry that started in the 60s with Gordon Moore from Intel and came what came out of that was an industry road map for the silicon industry.
00:05:04 Speaker 1
It had red.
00:05:05 Speaker 1
Brick walls and things and it indicated.
00:05:07 Speaker 1
How far this the technology could advance in the future, so the silicon industry has had a road map for the last let's call it, 40, maybe even 50.
00:05:17 Speaker 1
Yes, this is the photonics robot. This is something that folks have been working on for the last decade. And what they do is they focus at for forecast out over the next 10 to 20 years. The key technologies that are going to be needed for things like optical communications, the Internet data centers.
00:05:37 Speaker 1
And the good news is, is that polymers are on that road map for the next 20 years.
00:05:42 Speaker 1
Both from a polymer material standpoint in terms of its performance like we just demonstrated, as well as a solution for pluggable transceiver boxes that you find going into servers and routers on the Internet. And So what this road map really tells everybody is, is that we've got a great technology.
00:06:03 Speaker 1
It's got a great future and we're really looking quite excited to see this happen. And when you see things plotted out for the next 20 years, it tells you you're on the right.
00:06:14 Speaker 2
Well, I want to definitely talk to you in 20 years. However, I also want a little bit of a sneak peek on what people can expect for your upcoming and your shareholders meeting that's happening on May 22nd. Considering the progress that you made in Q1, right, and the strategic objectives that you've laid out, provide me some insights on any milestones or developments that you'll discuss.
00:06:36 Speaker 2
Or possibly even announced during this meeting.
00:06:39 Speaker 1
So one of the things we're going to do at this meeting is we're going to show the shareholders actual working demo of our package modulators so they can actually see it for themselves. This is really important. We've done this to the customer base and now we want to do this to the shareholders. So they'll get a tour of our new facility or our expanded.
00:06:59 Speaker 1
Facility which?
00:07:00 Speaker 1
Which I think I reported to do about three to six months ago, you know, to set up for scaling and volume. We'll also be showing what a 200mm wafer looks like for a big silicon wafer where you get thousands of modulators on. We'll also be plotting the future from a business standpoint. And so you know.
00:07:12
OK.
00:07:20 Speaker 1
One of the pieces of feedback we do get from our retail investor base and I thank them for sending me questions pretty much every day of the week is we're going to be answering those questions. We'll be addressing those questions and we'll be plotting our future in more granularity than we have.
00:07:38 Speaker 2
I love it. I definitely look forward to hearing that again. That's on May 22nd, folks, before I let you go, Doc, any final thoughts on your end?
00:07:47 Speaker 1
Well, this has been a great three months for us. You know the industry is now seeing that the performance and modulators of our polymer modulators are really exactly what they're looking for. So that means as we look forward over the next 6-9 and 12 months, it's going to be really busy.
00:08:05 Speaker 1
And so this is an exciting time for us. So it's go lightweight.
00:08:08 Speaker 2
I love and look, I've been, you know, seeing videos of the things that y'all are doing. But I'm gonna have my people talk to your people and maybe the next time you and I talk is gonna be at your facilities and we'll have the things you're doing in the background. But thank you so much for your time. I really appreciate it.
00:08:21 Speaker 1
Thank you. I enjoyed it tonight.
00:08:23 Speaker 2
Absolute.

Oppenheimer today

On Friday afternoon, we listened to the scheduled APA suit of JAZZ vs. FDA related to the approval and Orphan Drug Exclusivity (ODE) of AVDL's Lumryz and come away with reaffirmed confidence in a favorable outcome for AVDL and patients. While litigations can get quite complex and outcomes can be difficult to predict, we didn't hear anything new, surprising, or concerning during the hearing. In terms of next steps, we believe a decision can take another 2-4 months. Coming off a strong 1Q24 and confidence in continued momentum, we are reiterating our Outperform rating and $29 price target.

After success in Germany InterDigital’s FRAND battle with Lenovo shifts to London
In early May, InterDigital achieved a spectacular victory with an injunction against Lenovo from Munich Regional Court. Now, the epicentre of the global battle has shifted to London, where two FRAND trials are pending. In June, the UK Court of Appeal will review the far-reaching FRAND ruling by High Court judge James Mellor.
10 May 2024 by Mathieu Klos
The injunction, if enforced, prevents Lenovo from selling 4G- and 5G-capable tablets, smartphones and PCs in Germany. ©pressmaster/ADOBE Stock
On 2 May, Munich Regional Court ruled Lenovo may no longer sell mobile devices in Germany that infringe InterDigital’s European patent EP 2 127 420 B1. The court also classified Lenovo as an unwilling licensee, despite the Chinese company having submitted a licence offer. Now, the two opponents will face eachother once more with a FRAND trial soon to begin in London.
First-instance win for InterDigital
The first-instance ruling constitutes a remarkable success for InterDigital, given this is the only lawsuit the company has filed against Lenovo in Germany. InterDigital has not yet enforced the judgment. If it does, Lenovo will no longer be allowed to sell tablets, smartphones and PCs with 4G and 5G capability in Germany. The Chinese company would also have to pay damages.
InterDigital is expected to take this step in order to increase the pressure on Lenovo. Furthermore, Munich Regional Court presiding judge Oliver Schön set a low security deposit of €1 million for smartphones and €3 million for tablets and PCs.
Experts assume that, in the event of enforcment, Lenovo will apply to the Higher Regional Court Munich for a stay of execution so that it may continue selling its devices in Germany.
InterDigital’s crown jewel
EP 420 is becoming one of InterDigital’s most valuable patents on 4G and 5G technology. In September 2023, the Federal Patent Court upheld the German part of InterDigital’s EP 420 with restrictions in the nullity action filed by Oppo (case ID: 4 Ni 54/22). EP 420 protects a method for controlling discontinuous reception, DRX, in a wireless transmit/receive unit, with devices like smartphones using the technology. When a consumer operates a device in DRX mode, this is intended to reduce battery consumption.
InterDigital appealed the validity judgment, with Lenovo then joining the appeal. Shortly before Christmas 2023, however, the 7th Civil Chamber at Munich Regional Court found that Oppo and OnePlus products infringed the patent and ordered the defendants to cease and desist (case ID: 7 O 17302/21).
The recent judgment against Lenovo, also from the 7th Civil Chamber, is thus the second victory for InterDigital concerning this patent. Both companies reacted imediately, with InterDigital stating in a press release, “Following the court’s finding that Lenovo’s behaviour constitutes hold-out, we hope Lenovo reverses course and finally takes a fair and reasonable licence.”
In its own press statement, Lenovo says, “We respect the Munich Court’s decision but do not agree with it given our belief that InterDigital has violated its own legal obligations to license its technology on FRAND terms to either Lenovo or our third-party suppliers.” Lenovo announced that the company will continue to fight for transparency in licensing negotiations and against companies seeking excessive rates for their patent portfolios. “We look forward to the next stage of the proceedings and our appeal.”
Next round at UK Court of Appeal
The next major clash between the two opponents will take place in London on 10 June. The UK Court of Appeal will then hear InterDigital’s appeal against the well-known ruling by UK High Court judge James Mellor from 2023.
In March 2023, Mellor handed down his decision on FRAND-rate setting, which saw the court order Lenovo to pay a FRAND rate of $138.7 million. The judgment also declared both parties’ previous offers as non-FRAND. Later in 2023, presiding judge James Mellor released two further decisions in which he declared Lenovo the “overall winner” of the FRAND trial.
Ultimately, there were several reasons for this. The court found a per unit rate of $0.175 as much closer to Lenovo’s proposal of $0.16, and a “long way” from InterDigital’s contention of a blended rate of $0.53. In addition, the court found the payable lump sum “substantially lower” than InterDigital’s offer of $337 million. Furthermore, the judges found Lenovo the winner regarding comparables, and Lenovo successful on the “top down” and “conduct” aspects of the case.
JUVE Patent understands that the court has scheduled the appeal hearing for Monday 10 June and it is expected to last a week.
Second FRAND trial
While James Mellor’s ruling relates to a licence offer from InterDigital for the cellular patent portfolio until the end of 2023, and thus now only has retroactive effect, Lenovo has initiated a second FRAND trial in the battle.
Lenovo has now asked the UK High Court to set a global licence rate for InterDigital’s entire portfolio, which includes implementation patents as well as SEPs. The court is to calculate the FRAND rate from 2024 onwards.
InterDigital challenged the jurisdiction of the UK High Court, but the court under presiding judge Jonathan Richards dismissed InterDigital’s jurisdictional challenge at the end of April (case ID: HP-2023-000031).
Arnold Ruess against Freshfields
In the German dispute, InterDigital relied again on Düsseldorf IP boutique Arnold Ruess. The team, led by litigator Cordula Schumacher and Arno Riße, was also active for the company in the dispute with Oppo. Here – as in the current case for InterDigital – the well-established cooperation with the patent attorneys of df-mp came into play once again. Both Dominik Ho and David Molnia are highly recognised for their expertise in telecommunications technology.
On the other side of the courtroom sat a Freshfields team led by lead partner Wolrad Prinz zu Waldeck und Pyrmont, supported by patent attorneys from Maikowski & Ninnemann. Both law firms had already advised Lenovo in the disputes with InterDigital in Munich and Mannheim over HEVC patents, which ended with a settlement at the end of 2023. Both law firms also represented Lenovo in a dispute with Nokia.
Arnold Ruess partners Cordula Schumacher and Arno Riße and Freshfields partner Wolrad Prinz zu Waldeck und Pyrmont share a common past. They worked together as associates at Freshfields for a long time before Schumacher and other Freshfields associates set up their own spin-off in 2010. Riße followed Schumacher to Arnold Ruess in 2015.
Kirkland vs Bird & Bird and Gowling
In the UK, InterDigital has a long-standing relationship with Gowling WLG, with co-chair of its global tech team Alexandra Brodie in the lead. Gowling partner Matt Hervey and director Michael Carter, as well as numerous associates, are supporting Brodie on the FRAND aspects. The Gowling team launched the proceedings against Lenovo and was heavily involved in the first FRAND trial that led to the important judgement of James Mellor last year.
But Bird & Bird also plays a large role in the dispute on InterDigital’s side. A team lead by Richard Vary and Katharine Stevens supported InterDigital in the dispute over jursidiction for setting a global FRAND rate for the whole portfolio.
Still fresh
By contrast, the relationship between Kirkland & Ellis and Lenovo is relatively new. The US firm took over from Powell Gilbert, which initially represented Lenovo, shortly after the claims were filed in April 2020. Kirkland & Ellis partner Daniel Lim is running the FRAND trial, while Steven Baldwin leads on the technical aspects. Meanwhile the Kirkland team is also advising Lenovo in another dispute with Ericsson. The Kirkland team also coordinates such battles globally.
German proceedings
For InterDigital
Arnold Ruess (Düsseldorf): Cordula Schumacher (lead), Arno Riße, Marina Wehler (all partners), Tim Smentkowski (counsel); associate: Julius Winkler
df-mp Dörries Frank-Molnia & Pohlman (Munich): Dominik Ho, David Molnia, René Okoampah (all partners, all patent attorneys)
For Lenovo
Freshfieds Bruckhaus Deringer (Düsseldorf/Munich): Wolrad Prinz zu Waldeck und Pyrmont (lead), Nina Bayerl (both partners); associates: Corin Gittinger, Eva Acker, Caroline Horstmann
Maikowski Ninnemann (Berlin): Gunnar Baumgärtel, Ralf Emig (both patent attorneys)
In-house: Taylor Ludlam (director global litigation), Frank Oliver Allner (managing director Germany)
Munich Regional Court, 7th Civil Chamber
Oliver Schön (presiding judge), Hubertus Schacht, Katalin Tözsér
UK proceedings
For Lenovo
Blackstone Chambers (London): Michael Bloch, Ravi Metha, Femi Adekoya
Kirkland & Ellis (London): Daniel Lim, Steven Baldwin, Nicola Dagg, Gabriella Bornstein, Oscar Robinson (partners); Ashley Grant
For InterDigital
Three New Square (London): Douglas Campbell
Brick Court Chambers (London): Joanne Box
Bird & Bird (London): Richard Vary and Katharine Stevens (both partners)

https://www.juve-patent.com/cases/after-success-in-germany-interdigital-lenovo-frand-battle-shifts-to-london/

Interview: InterDigital’s Beijing office aims to spur telecoms, video codec deals
headline only

sorry, here is the headline I meant to post

InterDigital wins German injunction against Lenovo, but loses UK jurisdictional challenge

https://www.washingtonpost.com/technology/2024/05/03/trump-media-auditor-borgers-suspended-permanently/?utm_campaign=wp_post_most&utm_medium=email&utm_source=newsletter&wpisrc=nl_most&carta-url=https%3A%2F%2Fs2.washingtonpost.com%2Fcar-ln-tr%2F3d98489%2F663506dd0704581598c5fa8d%2F59739163ade4e21a84900ce2%2F18%2F46%2F663506dd0704581598c5fa8d

BoA still 100 and a neutral

1Q First Take: IDCC reported 1Q rev/EPS of $263mn/$3.58, above Street's $250mn/$3.14. Mgmt reaffirmed guidance on 1Q strength
New licensing agreements, most notably with Samsun TV, and favorable litigation outcomes drove strong growth
However, 2Q guidance of $93mn was below Street's $108mn and the lumpiness of revenues makes 2H visibility challenging

As Early-Onset Breast Cancer Cases Soar in North America and EU, Biotech Ramps Up Response
10:30 am ET April 30, 2024 (PR Newswire) Print
USA News Group Commentary

USA News Group - An alarming rise in early-onset cancers has medical experts very concerned, as cancer cases in younger people are rising sharply. In particular, a surge in cases of breast cancer is being witnessed in Canada, the USA, and the EU, with extra concern to patients thought to be in remission contracting breast cancer a second time, according to a new study from the University of Cambridge. However, there's still optimism towards new treatments, and significant growth of 9.3% CAGR in the metastatic HR+/HER2- breast cancer market through 2032 has treatment developers working harder to make gains for patients. Among the biotech companies currently making strides are Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), IceCure Medical Ltd (NASDAQ: ICCM), Atossa Therapeutics, Inc. (NASDAQ: ATOS), Arvinas, Inc. (NASDAQ: ARVN),and Pfizer Inc. (NYSE: PFE) (NEO: PFE).

Following a Fast Track Designation by the FDA in late 2022 for Oncolytics Biotech Inc.'s (NASDAQ: ONCY) (TSX: ONC) drug candidate, pelareorep, for pancreatic cancer treatment, the company is now gaining traction towards another pivotal FDA engagement, this time focusing on breast cancer. Recently, Oncolytics announced that they had submitted a Type C meeting request to the FDA to discuss a forthcoming trial for pelareorep aimed at treating HR+/HER2- metastatic breast cancer (mBC) patients.

"A key focus for Oncolytics in 2024 is defining the regulatory path for pelareorep in breast cancer treatment," said Matt Coffey, President and CEO of Oncolytics. "We are optimistic that pelareorep, in combination with paclitaxel, could significantly enhance clinical outcomes for patients with HR+/HER2- metastatic breast cancer. Our position is strengthened by encouraging data from two randomized studies (BRACELET-1 and IND-213) and the AWARE-1 study, paving the way for the next phase of pelareorep's development and registration."

Dr. Coffey has shared that Oncolytics' continuous interactions with clinical collaborators and partners have been instrumental in crafting a detailed and persuasive briefing document. The company looks forward to meeting with the FDA in Q2 2024 to finalize the trial design and goals for using pelareorep in treating metastatic breast cancer. This meeting is crucial for advancing this promising therapy toward patient use. With expected survival data from its BRACELET-1 study and constructive dialogues with the FDA, Oncolytics is optimistic that 2024 will be a landmark year for the company and its stakeholders.

"The data from the randomized BRACELET-1 trial showcased compelling results for the pelareorep/paclitaxel combination therapy in HR+/HER2- metastatic breast cancer patients, with a nearly tripled confirmed response rate, a 50% improvement in median progression-free survival, and a hazard ratio of 0.29 compared to the paclitaxel alone control," said Thomas Heineman, M.D., Ph.D., Chief Medical Officer at Oncolytics. "Importantly, these data support the statistically significant near doubling of median overall survival in another randomized phase 2 study, IND-213, which also evaluated pelareorep and paclitaxel in HR+/HER2- metastatic breast cancer patients."

Also seeking the FDA's attention, Israel-based IceCure Medical Ltd (NASDAQ: ICCM) recently reported its final ICE3 breast cancer cryoablation trial results with 100% patient and physician satisfaction and 96.3% recurrence-free rate for its ProSense(R) System, a minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal.

With this new data in hand, IceCure has submitted final data to the FDA, requesting marketing authorization for ProSense(R) for the indication of treating patients with early-stage T1 invasive breast cancer with cryoablation and adjuvant hormone therapy. ProSense(R) has already received FDA Breakthrough Designation and is cleared for use in the US for several other indications, including treating benign tumors of the breast, and tumors in the kidney and liver.

"We believe ICE3 is a ground-breaking study and are excited to report that the efficacy data of our minimally invasive ProSense(R) cryoablation procedure show similar outcomes in recurrence compared to more invasive breast surgery, the current standard of care for early-stage breast cancer," said Eyal Shamir, CEO of IceCure. "Initial reimbursement codes are already in place and our U.S. marketing and commercial team is ready, as we await the FDA's response. Driven by favorable healthcare economics combined with patient satisfaction and demand, we expect rapid adoption pending FDA granting the DeNovo Classification Request for Marketing Approval."

A new clinical trial was announced by Atossa Therapeutics, Inc. (NASDAQ: ATOS)to evaluate the company's proprietary (Z)-endoxifen in combination with abemaciclib (VERZENIO(R)), a cyclin-dependent kinase (CDK) 4/6 inhibitor marketed by Eli Lilly and Company, in women with ER+/HER2- breast cancer. Set to enroll approximately 20 newly diagnosed women, the new study arm will have participants receiving 40mg (Z)-endoxifen once daily in combination with 150mg abemaciclib twice daily for a total of 24 weeks prior to surgery.

"Endocrine therapy in combination with CDK 4/6 inhibition is a widely used treatment for patients with advanced-stage ER+ breast cancer and as an adjuvant therapy for node positive, hormone positive early-stage disease, found at the time of surgical resection," said Dr. Laura Esserman, director of the University of California San Francisco Breast Care Center and founder of Quantum Leap Healthcare Collaborative. "Women with high clinical stage but less proliferative tumors (molecularly low risk or those with late recurrence risk) are challenging to treat. Late recurrence is high regardless of either endocrine or chemotherapy. Thus, we are looking for new combined treatments, which can be used in the pre-surgery (neoadjuvant) setting. We look forward to learning more about the potential of (Z)-endoxifen in combination with abemaciclib in the neoadjuvant setting in the I-SPY TRIAL."

Vepdegestrant (ARV-471) is another treatment that recently received FDA Fast Track Designation, which is a novel oral PROteolysis Targeting Chimera (PROTAC(R)) ER degrader that is being jointly developed by Arvinas, Inc. (NASDAQ: ARVN),and Pfizer Inc. (NYSE: PFE) (NEO: PFE). The ongoing Phase 3 VERITAC-2 clinical trial is evaluating vepdegestrant or fulvestrant in patients with locally advanced or metastatic ER+/HER2- breast cancer who have been previously treated with an endocrine-based therapy.

"The receipt of Fast Track designation reinforces the potential of vepdegestrant to provide an important new therapeutic option for people with ER+/HER2- breast cancer whose disease has progressed," said Roger Dansey, M.D., Chief Development Officer, Oncology, Pfizer. "We are proud to continue our legacy of developing innovative treatment options for people impacted by metastatic breast cancer and look forward to working with the FDA as we advance our development program for vepdegestrant."

Article Source: https://usanewsgroup.com/2023/10/02/the-most-undervalued-oncolytics-company-on-the-nasdaq/

Why the AI Industry’s Thirst for New Data Centers Can’t Be Satisfied
Supply bottlenecks slow the scramble to build bigger, more powerful facilities

By Tom Dotan
Follow
and Asa Fitch
April 24, 2024 5:30 am ET
The frenzy to build data centers to serve the exploding demand for artificial intelligence is causing a shortage of the parts, property and power that the sprawling warehouses of supercomputers require.
The lead time to get custom cooling systems is five times longer than a few years ago, data center executives say. Delivery times for backup generators have gone from as little as a month to as long as two years.
A dearth of inexpensive real estate with easy access to sufficient power and data connectivity has builders scouring the globe and getting creative. New data centers are planned next to a volcano in El Salvador and inside shipping containers parked in West Texas and Africa.
Explore Audio Center
Earlier this year, data-center operator Hydra Host found itself in a bind, searching for 15 megawatts of power needed to operate a planned facility with 10,000 AI chips.
The company went from Phoenix to Houston to Kansas City, Mo., to New York to North Carolina to find the right space. It is still on the hunt.
The locations that had the power didn’t have the right cooling systems required to keep the servers operational. New cooling systems would take six to eight months to arrive, thanks to a supply crunch. Meanwhile, buildings that had the cooling didn’t have the transformers required to receive the additional power—those would take up to a year to arrive.
“With what we’re seeing, the fervor to build is probably the greatest since the first dot-com wave,” said Hydra Host Chief Executive Aaron Ginn. He said the search for the right parts and space has taken months longer than expected.
The demand for computational power to create AI systems has surged since late 2022, when OpenAI’s ChatGPT started showing the technology’s potential. Demand for computer servers equipped with new generations of AI chips—the most popular of which are graphics processing units, or GPUs, from Nvidia—is overwhelming existing data centers.
“You had this tsunami, and there’s going to be a shortage of data-center inventory,” said Raul Martynek, chief executive of data-center company DataBank.
Creating and deploying complex AI systems requires unprecedented numbers of chips. Analysts estimate that training the version of ChatGPT that came out in 2022 required more than 10,000 of Nvidia’s GPUs, while more recent updates have required significantly more—putting further strain on data centers. Large tech companies have struggled to get their hands on supplies.
The amount of data-center space in the U.S. grew 26% last year, according to real-estate firm CBRE, and a record amount was under construction. The price of available space is rising while vacancy rates are negligible—a sign that supply isn’t keeping up with demand.
Bill Vass, vice president of engineering at Amazon Web Services, said a new data center pops up somewhere in the world every three days.
It generally takes a year and a half or two years to put up a large, new data facility, said Jon Lin, the general manager of data-center services at Equinix, one of the world’s biggest data-center operators. It is difficult for the industry to suddenly scale up when demand skyrockets because of the extensive planning and supply-chain management required, he said.
“These are not easy problems where you can pivot on a dime and triple capacity very quickly,” said Lin.
Cloud giants like Amazon Web Services, Microsoft and Alphabet’s Google are investing billions of dollars in new data centers. Google’s capital expenditures—almost half of which was on its data infrastructure—jumped 45% from a year earlier to $11 billion in the three months through December.
Microsoft has tried to control costs during its data-center build-out by pulling back on spending in other areas. The company spent more than $30 billion on data centers in 2023, according to an estimate from market-research firm Dell’Oro Group.
The rush to build has ratcheted up the time needed to acquire some critical data-center components. Transceivers, which connect different networks of servers, now take months longer to arrive than before. Labor costs have also become an issue as data-center builders have faced a shortage of construction workers trained on these types of sensitive installations. Getting smaller networking components, like cables that connect different racks of servers, can take months.
The AI chips needed to make the technology work are famously in short supply. The single biggest maker, Nvidia, has been overwhelmed by demand from a range of companies and cloud-infrastructure providers. At the outset of the AI boom, the lead time to get graphics processing units for AI computation in data centers rose to several months, though the wait time has fallen in recent months.
The time it takes to get large backup power generators has gone from less than a year to almost two years, data-center executives say.
The specific requirements for the new GPU-driven AI data centers are pushing builders to look for places where they can get lots of reliable, affordable electricity. Amazon recently bought a data center next to a nuclear power plant in Pennsylvania. Meta Platforms is planning $800 million of computing infrastructure in El Paso, Texas.
SHARE YOUR THOUGHTS
What steps should be taken to meet the growing demand for data centers? Join the conversation below.
Digital-infrastructure company Standard Power is planning to supply power to data centers in Ohio and Pennsylvania with modular nuclear reactors similar to those used to power some submarines and aircraft carriers. NuScale Power, based in Portland, Ore., says it has the approval to supply the reactors to Standard.
“The data-center market needs power yesterday,” said Clayton Scott, NuScale’s chief commercial officer.
Armada, a San Francisco startup, builds data centers inside of shipping containers. The company can drop these portable facilities, full of Nvidia chip-powered servers, in locations such as remote areas of Texas or Africa that are near inexpensive sources of power like gas wells.
El Salvador—after trying to build a better business environment with a crackdown on gangs—has slashed taxes on AI. Marc Seal, who runs a company that invests in AI data centers, is considering tapping the country’s volcanoes to power such data centers using green, geothermal power.
Data center development is booming across the U.S. thanks to AI. Some industry analysts estimate global capacity to double by 2030. But it faces a big obstacle: getting enough power. Graphic: Ryan Trefes, JLL
Write to Tom Dotan at tom.dotan@wsj.com and Asa Fitch at asa.fitch@wsj.com

On Monday, Roth/MKM maintained a positive stance on InterDigital Inc. (NASDAQ:IDCC), reiterating a Buy rating and a $132.00 price target. The firm's stance comes amid a recent 10% dip in the company's stock value, which was influenced by a downgrade of a competitor and contrasted with a 7% decline in the Nasdaq.

The analyst highlighted the opportunity presented by the recent share price decline, suggesting it as a favorable entry point for investors. This perspective is based on the progress of InterDigital's licensing efforts, which include the Samsung (KS:005930) arbitration, negotiations with China-based original equipment manufacturers (OEMs), and consumer electronics advancements.

Despite market concerns, Roth/MKM expressed confidence in the company's financial prospects. The analyst forecasts that the high quality of InterDigital's recurring earnings could approach approximately $10 per share by 2027. This projection underpins the firm's continued endorsement of the Buy rating and the $132 price target for InterDigital's shares.

The recommendation from Roth/MKM comes as InterDigital approaches its earnings announcement, with the firm's analysis suggesting that the current valuation reflects a promising three-year earnings potential. The analyst's comments indicate a belief that the market's apprehensions are largely unfounded, particularly given the strength of the company's recurring revenue streams.

InvestingPro Insights
InterDigital's financial standing and market performance offer a compelling picture for potential investors. With a market capitalization of $2.48 billion and a robust gross profit margin of approximately 87% in the last twelve months as of Q4 2023, the company demonstrates significant profitability. Additionally, the P/E ratio stands attractively at 11.67, suggesting that the stock may be undervalued relative to its earnings. Notably, the company's management has been actively buying back shares, further signaling confidence in the firm's value and future prospects.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .
InvestingPro Tips highlight that InterDigital not only holds more cash than debt on its balance sheet but also boasts a high shareholder yield, which is indicative of its commitment to returning value to its investors. Moreover, the company has successfully maintained dividend payments for 14 consecutive years, with a recent dividend yield of 1.66% and a growth of 14.29% in the dividend, as of the last twelve months leading up to Q4 2023. These financial strengths are complemented by a significant price uptick of 26.24% over the last six months, despite a more recent downturn, showcasing the stock's volatility but also its potential for substantial gains.

For readers interested in a deeper analysis, InvestingPro provides additional insights, including a total of 9 InvestingPro Tips for InterDigital, which can be accessed through the company's specific page on Investing.com. For those looking to take advantage of this resource, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable investment metrics and tips.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

J
Thank you

J
Can you send me a copy of your report
Vigaits@aol.com

Thx

What time does Lebby speak ???

Right now the IV site is closed because of a hack they haven't been able to solve. IF and when they come back it may or may not only be subscription. Too early to tell yet.

UK global FRAND rate dispute settles at eleventh hour
headline only

Here's the transcript of the Sequire presentation
Sequire 4_19_24_audio.wav
Transcript
00:00:00 Speaker 1
I mean, just look at the red box on the right hand side. How many times have we seen this? Have we got a poor connection? Now we have to turn off the display because we don't have enough bandwidth. And so basically this is a problem that the Internet in general is having. We need some radical innovation to actually send more data and send that data lower.
00:00:21 Speaker 1
And so when you start looking into data center, Internet infrastructure, those choke points, there's slow information going through data centers. And so you can see whether you start on the left and you follow those arrows to the right and you can see there needs to be some innovation to sort out what's inside the data centers in terms of equipment.
00:00:41 Speaker 1
We have technology to improve that.
00:00:45 Speaker 1
And so you look at some graphs here, I'm not going to go into the details of this graph. You can look afterwards, but there's red boxes and there's green boxes or sorry blue boxes on color. Blind today the red boxes show that the power is increasing almost exponentially. And we know that data centers have this Achilles heel. The other thing is this traffic's going up.
00:01:05 Speaker 1
We knew traffic went up during COVID and everybody was working from home. Now we know traffic is going up because of Gai.
00:01:12 Speaker 1
Generative artificial intelligence. And so these are the Achilles heels of the industry and they're looking for solutions in technology and products to sort that out.
00:01:23 Speaker 1
And so just taking a quick look at some Gai slides from a systems optical networking company, you can see here just on this graph here. I mean this is Moore's law, that's that red box. It doesn't look like it's growing that fast. We know it's a really fast growth and technology in real estate over the last 50 years. But just look at the large language model sizes of artificial intelligence.
00:01:47 Speaker 1
Those green boxes, it's driving everything. So in the last two years, what it's done is it's driven the data center companies to invest lots of CapEx to upgrade their equipment so they can send more information.
00:02:00 Speaker 1
Now, if we think about this for a second, you know the Nvidia's of this world have GPU chips, which is electronic computational processing. But we've got to send that information somewhere, and you typically send it in fiber optic cables across interconnects across the network. And what we do is we help the photonics.
00:02:20 Speaker 1
On the interconnects and so where I indirectly benefiting from the Gali.
00:02:26 Speaker 1
And that's really exciting for us, I guess. And so the demand drivers that increased over the last two years, 18 months to two years switch density, the need for space, these data centers are getting too big. The need for speed artificial intelligence is generating more information from machine learning.
00:02:46 Speaker 1
Neural networks and that needs to be addressed and energy usage too. I mean the power consumption is going through the roof, so there's need for green type solutions. These are the big macro trends where we're actually.
00:02:58 Speaker 1
Dressing. So what do we do? We make Electro optic polymers. You can see here. There's a little bit of chemistry on the left, but the the point is is when we make these in Denver, Co we source all the raw materials on shore. We don't have to wait for boats coming across the Pacific or anything like that. We have a manufacturing chemistry facility there.
00:03:18 Speaker 1
And we have deep experience with the characterization test in lifetime reliability of these materials.
00:03:26 Speaker 1
And so solving the problem for the data center environment where we obviously create our own materials, we got a long, strong IP portfolio. But these materials modulate the light, they switched the light really quickly, very fast. The very small to very low power and we can put them on big silicon wafers which we run in foundries.
00:03:47 Speaker 1
You can see we've got our ward on the top right hand corner of this graph and there's a couple of cross sections there of what our device looks like is a big one in the next slide or two slides on, but essentially we solved the problem using our technology.
00:04:02 Speaker 1
And there's lots of opportunities to use polymer modulators both in pluggable transceivers. You know, it's like putting a V8 engine into that little box. There's about an inch wide and three inches long. We can turbo boost silicon photonics on big silicon wafers. We can actually add faster.
00:04:22 Speaker 1
Lower power and smaller performance to different types of circuits in fiber optic communications, but essentially what we do is we enable high performance data communications.
00:04:34 Speaker 1
And the markets we're focused in were not a huge company. We're about 35 people in Denver, Co are in those four top horizontal lines. That's fiber optic communications, fibre communications, high performance computing, data center, interconnect, etcetera. You can see in the Gray area the optical transceiver.
00:04:55 Speaker 1
Markets the Tams are huge. What we are not focused on is the optical free space.
00:05:03 Speaker 1
Wireless markets, which are the ones below that Orange line below this line, you can see those are projection displays, LIDAR, optical sensing, structured light. And so we don't have the resources to cover all these markets. So we're focusing on the fiber markets right now. But if any of our partners want to use our material.
00:05:24 Speaker 1
License our material to go into those markets more happily to work deals with that. And so these markets are actually quite huge and they're really exciting, but we're focusing on the top.
00:05:36 Speaker 1
For here and so one of the things that you have to think about is when you put your material, which is a liquid material, you spin it onto a big silicon wafer, you want to be able to do that in a big silicon foundry. Now we have a small foundry in Denver, Co, but we're not going to raise two or three or $400 million to put a big factory together when there's thirty or forty of these guys.
00:05:57 Speaker 1
Around the world.
00:05:58 Speaker 1
And so obviously silicon technology goes really nice in silicon foundries because it's silicon of course, but our technology fits really nicely in terms of compatibility in silicon foundries, visa via other semiconductor technologies that are used for optical modulators. And so for us, that allows us to use the existing infrastructure and scale.
00:06:20 Speaker 1
Volume and that's really important when you want to get to volume with the new technology.
00:06:26 Speaker 1
And you know, we showed this graph for the first time about two weeks ago. This is our optical modulators on 200mm silicon wafers that come from a silicon foundry. And so this is commercial foundry. This is volume scale and these are our silicon slot modulator designs on standard wafers. And there's a little.
00:06:45 Speaker 1
Rule there that has 150mm. If you can read it, but this is really nice to see. This is what our slim modulators look like. If anybody is technically inclined what a modulator is is a little slot.
00:06:58 Speaker 1
It looks like this and the light goes in here, gets modulated.
00:07:02 Speaker 1
Goes out there. It's pretty simple and it actually gets fabricated on a big silicon wafer. You can see from the bullet points on the right, you get really high performance here. Low Dr. voltage means very low power consumption consumption. Very high bandwidth means super fast speed. These are the things that folks are looking for in the data.
00:07:23 Speaker 1
Turner environment.
00:07:25 Speaker 1
And so this slide is a bit technical, so I'm not going to go into a lot of details, but what it talks about is the modulation and eyes one of the metrics when you have a very high performance component is do you have open eyes? And in orange here open eyes means a high.
00:07:41 Speaker 1
Quality of transmission of the ones and zeros and you don't get any errors. This is what folks are really looking for and the eye is actually this but.
00:07:51 Speaker 1
Here's the eye.
00:07:52 Speaker 1
See these black?
00:07:54 Speaker 1
Areas and so those eyes are open. Then you're going to have really good communications. We just demonstrated on the next slide. This was 2, two weeks ago, world class performance, this is 200 gigabits per second at a vault. Some of the results here are less than a Volt. This is world class performance. We actually showed these results in.
00:08:14 Speaker 1
A big international trade show.
00:08:16 Speaker 1
So.
00:08:16 Speaker 1
A week and a half ago called off C Optical Fibre Conference in San Diego, got the attention of a lot of people. One of the things you see from the data here is that we have open eyes and this is what everybody's looking for. So the performance of our technology is really impressing the customer base right now.
00:08:36 Speaker 1
One of the things we also did we worked with the university in Switzerland.
00:08:40 Speaker 1
When you have a new technology and you get the new technology working at really nice performance or world class performance, one of the questions that comes back from the customers are well, is your technology good for one generation or future generations? So this slide shows that just working with our material with the university in Switzerland, they actually showed double the.
00:09:00 Speaker 1
Speed. And so it's 200G400G. And so if you look at the road maps of customers today, 400 and 800, we have a technology that goes even beyond that. So we have a technology not for this generation for future generations and that's really exciting because the incumbent semiconductor technologies are not making it. And so that's one of the things you need to do to displace an incumbent.
00:09:22 Speaker 1
Technology is to show that your technology is better, but not only better today, but better for the next decade.
00:09:31 Speaker 1
The business plan, our business plan includes two major factors, licensing our material and supply agreements and selling the modulators themselves and we can see from that center circle there we will looking at product sales as well as licensing our technology. We'll even tech transfer to big silicon foundries if they want to go off into.
00:09:51 Speaker 1
Other markets like LIDAR and projection display and sensing, but the goals are on the right hand side.
00:09:58 Speaker 1
We want to make polymers ubiquitous, just like Oleds. We all know what Oleds are these days that are organic LEDs. During all our televisions and displays and mobile phones. Those are polymers too. In those polymers, you put a little voltage across them and you generate light, you know red, green and blue and you can make a display.
00:10:18 Speaker 1
Without polymers, you put a voltage across ours and you can switch light optically really fast. You can change it to your optical refractive index.
00:10:26 Speaker 1
And we want to have polymers all over the Internet. That's our goal. We want to have different device teams use our polymers in their device designs. We want to be able to sell modulators using our material and our designs, and we won't.
00:10:40 Speaker 1
Foundries using our polymers in their PDF's, which is their process development kits or their recipes if you like.
00:10:49 Speaker 1
We're also at the bottom of this slide and I think I've got it in the next slide. We had our first material commercial material supply license agreement. I think it's this slide here and we put together our robust license agreement to supply our material and this has royalties. This has license initiation fees.
00:11:08 Speaker 1
This is multi year and this has minimum sales criteria we haven't named who our partner is in this case, but this just indicates that at least one of our customers really likes our patent Paul Filler on the technology and is willing to license our.
00:11:24 Speaker 1
Technology, this slide I.
00:11:27 Speaker 1
Was the patents that we have in place, they're not just chemistry patents for the polymers as you can see from this circle on the left hand side, we have device design packaging as well as new patents in different types of areas that support our materials and it's in the region of 70 patents plus these days. So we have a fairly.
00:11:48 Speaker 1
Sizeable patent portfolio.
00:11:51 Speaker 1
In terms of commercializing our chromophores, the the chromophores we commercialized last year are the 2-3 and five series that are very high performance, albeit slightly different parameters for different applications. We were developing number six last year and that's ready to license this year. I've colored that orange because.
00:12:11 Speaker 1
We're still working on license agreements for six. So as we move into 2025, clearly we're going to increase the number of licensees to our technology as well as provide prototype technology to different types of customers in the data center environment.
00:12:29 Speaker 1
In terms of near term commercial activities and goals, our focus is to get more commercial activity as we go through 2024 and 2025 to turn some of the prospects and leads into real customers. One of the interesting observations over the last 9 to 12 months is because of the effects of artificial intelligence.
00:12:50 Speaker 1
The drive to upgrade data centers to higher performance technologies.
00:12:56 Speaker 1
Instead of pushing a new technology platform, which is what we were doing two years ago, we're being pulled along. In fact, I think we're it's rightly to say we're being dragged along and people really want new technologies to have much higher performance. And so you can see from the green box here as we go from 24 to 25 engagement with tier ones, twos and threes.
00:13:17 Speaker 1
For both material supply licensing as well as polymer modular prototypes is just increase.
00:13:24 Speaker 1
Now, as a company that is, you know, 3035 people, we can't deal with everybody. So we are choosing the right number of tier ones, twos and threes to engage with and this is going to be an exciting time for us.
00:13:38 Speaker 1
So in terms of this growth, we have to actually increase our facility and team as well to support this. So last year we expanded our facility in Denver, Co we added about 10K square feet and that that enjoins our current facility. You can see a picture of it in the bottom right hand corner.
00:13:58 Speaker 1
The new space is being used for production, test and evaluation reliability, as well as chemistry, and so we've added some more people to the team. In addition to this, as you can see from the bullet points on the bottom. So we're actually increasing our burn rate, we're increasing our growth in terms of the size of the company and the facilities.
00:14:18 Speaker 1
To deal with this demand, and I feel that we're doing a pretty good job there.
00:14:27 Speaker 1
We have an experienced management on board. You can see from folks here we have some deep technical folks to really understand the Internet and the optical networking environment for example, where Fred there in the left hand side, he was one of The Pioneers of optical modulators, 30 maybe 40 years ago.
00:14:44 Speaker 1
I remember that far back, but he's been a a person who's really been helpful in making sure we design the right type of technology for the right type.
00:14:54 Speaker 1
Market, we have the person below him, Saraj, who ran his own transceiver company, really understands how we can put a force change of 4 cylinder engine into a V8 for these types of transceivers and we have other folks on the board that are really deeply technical. And so that's really good for us. So the key takeaways from Lightwave logic.
00:15:15 Speaker 1
We believe our polymers are positioned to become unique.
00:15:18 Speaker 1
Curtis, we certainly want to follow the OLED trend. I mean that's been very successful. We're addressing large markets in the optical networking space through pluggable transceivers. We have proprietary Electro optic polymer technology that we've patented pretty aggressively. The performance of this technologies.
00:15:39 Speaker 1
Exceeds what is out there in terms of incumbent semiconductors today in terms of faster speeds and lower power, smaller size and it certainly relieves some of the bottlenecks. These data centers are looking at, commercialization is underway.
00:15:54 Speaker 1
And so we did our initial license agreement last year. We're working on more license agreements this year. We have a robust balance sheet. We don't have any debts. We have cash on hand until mid next year and we're building a world class team for this new technology platform and I've experienced leadership. Thank you very much.
00:16:22
Plenty of time for questions.
00:16:24 Speaker 1
Yes.
00:16:25 Speaker 2
I wondered if you could help me contextualize where your technology is that's in with. There's a lot of talk about hyper scaling, obviously, and there's stuff like, you know, new generations of PCI Express and B link.
00:16:40 Speaker 2
The CXL from this company that just went public and all kinds of activity around that, can you help me understand like how your technology and and what your partners will do with it like fits into that landscape?
00:16:58 Speaker 2
Of bandwidth and.
00:17:00 Speaker 1
Yeah, there's a there's an image here. We should look at.
00:17:05 Speaker 1
There see that image on the left hand side? That's what the racks of equipment look like in a data center, so whether it's routers or switches, you have racks and racks, equipment in long corridors. Those yellow cables are fiber optic cables. They plug into the front of this equipment and you can see it's it's pretty dense.
00:17:26 Speaker 1
What those yellow things plug into is a transceiver or pluggable transceiver that looks like.
00:17:32 Speaker 1
That guy there. So you have lots of these guys. These are little metal boxes that plug into the front of that equipment and so.
00:17:42 Speaker 1
What we do is, you know, you're talking about CXL and and sort of processing type technologies that are really driven by the Nvidia's of this world, where the GPU processes what we deal with. Once that information is being generated in the GPU, it's got to be sent somewhere. And so typically it gets sent off the board.
00:18:02 Speaker 1
Down a fiber optic cable to another file server or another facility or something, some different destination in the data center.
00:18:11 Speaker 1
And so those little boxes there do that exchange. And So what we do is we make the engines for those little boxes. So the boxes won't change. It's like if that box is like you know 100 G and then you put in and you call out a 4 cylinder engine and you put in a V8 and you make it a 400G using our technology and all you've really done.
00:18:33 Speaker 1
Is you've upgraded the performance and lowered the power consumption in that little box you plug it out, you put a new one in.
00:18:40 Speaker 1
And so to try and understand where we fit, we don't fit on the boards with the NVIDIA GPUs. We fit on the edge of the boards or the edge of the equipment that sends the data to some other destination, and so that's why.
00:19:00 Speaker 2
That point to another box. Another.
00:19:03 Speaker 2
Track those kind of things. That's where you're.
00:19:06 Speaker 2
Modulation and the optical transmission is where you're.
00:19:09 Speaker 1
Going to fit exactly. So the way I try and explain it is the AI doesn't directly affect us. It indirectly affects us. And so yeah, AI directly affects the Nvidia's of this world with their GPUs and the companies doing the CX L's. But for us, if you're sending more information, you're going to be able to send.
00:19:27 Speaker 1
A lot more information, faster and you've got to be able to do that by keeping the power consumption in check. And so we're at the edge, so we're indirectly affected. So you're exactly right.
00:19:40 Speaker 1
Let's let's have a question in front first.
00:19:43 Speaker 2
Can you talk to us a little about your commercialization and pricing currently over the last year?
00:19:49 Speaker 1
So we haven't given any guidance on pricing, but our business model is, is licensing the technology. So people really want to get hold of our polymer technology. We look at it as if it's like a, you know, Coca-Cola type play. We're not going to tell anybody the formulas of how we put it all together. But if people want to use it, that's fine.
00:20:10 Speaker 1
And so that's one aspect and that's, you know, we had the first commercial deal last year.
00:20:15 Speaker 1
In terms of using that material in our own slot modulator designs to sell modulators or engines into boxes like this, we're engaged with customers that range from tier ones to tier threes. And so yeah, they're evaluating our technology. So we haven't given any guidance on revenue and pricing at this point.
00:20:34 Speaker 1
Well, what we have said is, is that we're engaged with the customer base and we're going through that evaluation phase.
00:20:47 Speaker 1
If you want to follow up with your other question.
00:20:50 Speaker 2
You know.
00:20:51 Speaker 2
No fault of your own. You know, there was a a company with a few billion dollars in market cap. That was at LD a few years ago. That was all same story. You know polymers high speed network, same a lot of the same things also based in Colorado didn't work out. So I'm trying to get at is.
00:21:08 Speaker 1
Was that that company? I don't.
00:21:09 Speaker 1
Know this company? Ohh yeah.
00:21:11 Speaker 2
I can follow up and.
00:21:12 Speaker 2
Give you the ticker.
00:21:13 Speaker 2
But.
00:21:15 Speaker 2
Is there a chance like these polymers or this polymer based approach to get to these levels of networking speed is is?
00:21:26 Speaker 2
One way of doing it, but maybe not the way, is it necessary or inevitable that we're going to need this kind of technology to reach those kind of?
00:21:36 Speaker 2
Those bandwidth levels.
00:21:38 Speaker 1
Well the the quick answer is I believe yes, and I'll, I'll I'll explain. If you look over 2 minutes where I got a short answer here. The last 10 years of technology in the optical networking, we've had silicon, we've had Indium phosphide, we had lithium niobate semiconductor.
00:21:55 Speaker 1
Solutions. Those solutions are really struggling with today's speeds and So what these technologies, they're they're trying all sorts of tricks like increasing the voltage, increasing the power consumption, using electronic DSP chips to clean up the signals. So what hasn't happened in the last decade is faster optics.
00:22:15 Speaker 1
What this represents and polymers represent is much, much faster optics and so you can either relieve the electronics to reduce the power consumption or you can just use the brute force speed of this material. And so the semiconductor technologies may survive this current generation with increased power consumption.
00:22:35 Speaker 1
But they're not going to be around for the next decade. So whether this is the right one or not, we can all argue. But from my standpoint, the potential performance of this technology can last the road maps for and expectations of.
00:22:51 Speaker 1
Fast data rates for the next 10 years, not just this generation, but for the next three or four generations. And so it's our job to make sure we have the right reliability, stability in lifetime of these polymers, just like the folks did with the Oleds. I mean we had, we had LCD displays for 10 years, right, and I didn't think they would ever change.
00:23:12 Speaker 1
And now we'll look at OLED polymer displays. We don't even question the stability or the reliability of this tech.
00:23:18 Speaker 1
Energy. And yet it's everywhere. It's ubiquitous.
00:23:22 Speaker 1
We see the same direction for this technology, so it's up to us to do the right level of homework in terms of lifetime reliability, stability of these polymers to make sure we exert the natural performance that this material has. And that's the exciting part about it.
00:23:42 Speaker 1
Real quick.
00:23:44 Speaker 3
To your comment about having cash.
00:23:46 Speaker 3
That will take you into the middle of 2025. What will it take for you to get to cash?
00:23:50 Speaker 1
Flow positive. We haven't given guidance on cash flow positive, so I can't really answer that question, but certainly we we're expecting a really exciting 2425 and hopefully we may get to that point of giving some guidance, but we're not there yet.
00:24:06 Speaker 1
We certainly have internal models, of course. So we know internally what our goals are, but we haven't made it public.
00:24:15 Speaker 1
Thank you.

they had a presentation yesterday
follow this link and it should take you there
https://www.virtualinvestorconferences.com/events/event-details/ai-big-data-and-technology-virtual-investor-conference?utm_source=agenda&utm_medium=press+release&utm_campaign=424aitechVIC&utm_id=424aitechVIC

Avanci launches long-awaited 4G smart meter programme with first licensee

headline only

Based on their track record, don’t look for a replay until next week

An English High Court decision has revealed that Lenovo committed several breaches of a confidentiality protocol relating to InterDigital’s third-party SEP license agreements in the latest development of the much-watched SEP/FRAND dispute.
The decision comes shortly before a key hearing on jurisdiction in the global FRAND battle

that's all I have

07:15 AM EDT, 04/04/2024 (MT Newswires) -- A US court ruled against Moderna (MRNA) in a patent infringement case by Arbutus (ABUS) over its COVID-19 vaccines, Reuters reported Wednesday.

US District Judge Mitchell Goldberg interpreted the patents in ways that favored Arbutus' case and hurt Moderna', Reuters reported.

Arbutus sued Moderna in 2022, claiming the company's COVID-19 vaccine impinged on its patents for lipid nanoparticles that shield the vaccine's mRNA from the body's immune system.

Moderna and Arbutus did not immediately respond to MT Newswires' requests for comment.

This makes no sense
China: InterDigital vows FRAND practices to end probe
BY CPI | FEBRUARY 23, 2014


US wireless technologies firm InterDigitial has reportedly offered to charge non-discriminatory royalties to Chinese companies to license its technology in efforts to suspend China’s antitrust probe into the company.

InterDigitial filed to suspend China’s National Development and Reform Commission’s investigation into InterDigitial following allegations that the US vendor is abusing its dominant market position by charging unfair royalties to Chinese firms for licensing its wireless network and product patents.

The company was alleged to have charged up to one-hundred times higher fees to Chinese companies than to Apple.

Now, reports say the company has vowed to license those patents on terms known as FRAND, or fair, reasonable and non-discriminator.

https://www.pymnts.com/cpi-posts/paramount-and-skydance-in-exclusive-talks-for-merger-reports/

Galaxy Digital said to put together $100M fund to invest in crypto startups
Apr. 03, 2024 3:14 PM ETGalaxy Digital Holdings Ltd. (BRPHF) Stock, GLXY:
Galaxy Digital Holdings (OTCPK:BRPHF) is planning to raise $100M to create a fund that will invest in as many as 30 cryptocurrency startups over the next three years, according to a media report dated Wednesday.

The new fund, dubbed Galaxy Ventures Fund I, LP, will target financial apps, software infrastructure and protocols building in crypto, CoinDesk reported, citing an investor letter.

Crypto-venture capital isn't a new foray for Galaxy Digital (OTCPK:BRPHF). Over the past six years, the company invested $200M in more than 100 projects, the article said. Last year, Galaxy (OTCPK:BRPHF) added its venture-capital unit to its asset-management business.

deleted

nobody here while it hits new highs 🤔

BoA downgraded
Solid growth in recent quarters; LT growth remains murky

InterDigital's stock appreciated 47% in the last 12 months, mostly on a few consecutive quarters of solid growth. Growth was driven by new licensing agreements with Lenovo, Panasonic, and others, as well as 162% YoY growth in non-recurring revenues, which are mainly related to catch up payments that are one-time in nature. Going forward, we flag risks to the 2024 estimates and forecast negative growth rates in 2025. To put the past performance into perspective, in 2023 revenues grew 20% overall, yet excluding the contribution of one-time, non-recurring revenues, topline only grew 1% YoY. We therefore downgrade our rating to Underperform from Buy, tweak our estimates, and reduce our PO to $100 on 9x FY25E EV/FCF, vs. prior $140 (13x).

High penetration & reliance on recurring smartphone revs

Growth is highly dependent on the recurring smartphone royalties, which comprise 85% of total recurring revenues. Management believes recurring revenues from wireless will grow from $408mn in 2023 to ~$500mn over the long-run, but the company's largest revenue growth has been generated by the non-recurring portion, or catchup payments with previously unlicensed smartphone vendors. This brings up two risk factors: first, the timing of realizing catch-up revenues is highly unpredictable. Second, the inherent growth of the core smartphone segment is almost non-existent and management's growth assumption is dependent on its ability to reach agreements with unlicensed Chinese handset makers, which represents another highly unpredictable factor. There are other long term growth opportunities and management expects Consumer Electronics licensing to grow from $60mn to $150mn, and flags potential growth in IoT, automotive, and AI licensing, which are all areas that may take time to materialize/ramp.

Lumpy revenue recognition and lack of visibility into P&L

We highlight near-term opportunities to reach agreements with likes of Oppo and Vivo, as well as smaller growth opportunities within adjacent markets like CE and IoT, but timing is uncertain and the magnitude could prove smaller vs. the last 12 months. Management included a ~$150mn catchup revenue assumption in the 1Q24 revenue guidance, vs. $141mn in FY23. We believe some of this assumption is based on the expectations that the Samsung renewal may resolve in 2024, yet we flag risk to estimates, as the guidance locks in a certain cadence of deal (agreement) flow, which could prove slower to materialize. Lastly, looking beyond 2024, our model calls for a decline in revenue and EPS growth in 2025, down -8% YoY and -20% YoY, respectively.

Top 10
31-Dec-23 inc/dec 30-Sep-23

BlackRock Inc. 4,431,012 -358,817 4,431,012
Vanguard Group 3,342,295 -17,809 3,342,295
Pacer 358,909 358,909 358,909
State Street Corp 1,008,862 -4,029 1,008,862
Dimensional 969,637 -62,279 969,637
Disciplined Growth 677,226 -48,660 677,226
Boston Partners 666,935 -22,583 666,935
Boston Trust 643,899 -1,067 643,899
Geode 556,979 -5,757 556,979
Shannon River 642,265 -373 642,265

Avanci “very pleased” with 5G progress, but seeking first Chinese licensee
Headline only

NVDA did say their new chips will use less energy

same old same old,
he has to close a review deal

That's why the lawyers make so much, they can figure 6 ways to Sunday to confuse you

InterDigital, Inc. et al v. Lenovo (United States) Inc.et al

Order on Motion to Dismiss for Failure to State a Claim Order on Motion to Strike
TEXT ORDER - This matter comes now before the court upon plaintiffs' motion to dismiss. DE 34 . As a general rule, "an amended pleading ordinarily supersedes the original and renders it of no legal effect." Young v. City of Mount Ranier, 238 F.3d 567, 573 (4th Cir. 2001) (internal quotations omitted); see also 6 Charles Alan Wright, et al., Fed. Prac. & Proc. § 1476 (3d ed. 1998) ("A pleading that has been amended under Rule 15(a) supersedes the pleading it modifies and remains in effect throughout the action unless it subsequently is modified.... Once an amended pleading is interposed, the original pleading no longer performs any function in the case"). Where defendants Lenovo (United States) Inc. and Motorola Mobility filed amended answer and counterclaims to plaintiffs' second amended complaint after plaintiffs filed the instant motion, said motion, DE 34 , is DENIED as MOOT. However, in the event plaintiffs' file a renewed motion to dismiss regarding count III of amended counterclaims, the parties may file a joint notice stating that they rely upon their prior briefs in lieu of refiling briefs, and the renewed motion will be submitted upon filing of such joint notice. Signed by District Judge Louise Wood Flanagan on 3/13/2024. (Collins, S)

We have revenue, check that box

Not a lot of big changes at 12/31

Company Name Shares Change

BLACKROCK INC. 4,390,364 -40,648
VANGUARD GROUP INC 3,217,502 -125,893
PACER ADVISORS, INC. 1,151,777 792,868
STATE STREET CORP 1,036,873 28,811
DIMENSIONAL FUND ADVISO 936,056 -33,581
DISCIPLINED GROWTH IN' 675,865 -1,361
BOSTON TRUST WALDEN CORP 638,354 -28,581
BOSTON PARTNERS 624,516 -19,383
GEODE CAPITAL MANAGE 618,383 61,404
SHANNON RIVER FUND 472,807 -169,458
FULLER & THALER ASSET MAN' 471,135 471,135
AMERICAN CENTURY COMP 432,485 52,745
MORGAN STANLEY 404,697 30,975
D. E. SHAW & CO., INC. 398,424 -211,196
GOLDMAN SACHS GROUP INC 396,396 -22,050
ROBECO INSTITUTIONAL 359,026 -15,322
NEUMEIER POMA INV 337,100 -30,050
BANK OF NEW YORK MELLON 329,517 -63,155
BANK OF MONTREAL 320,144 14,454

WOW!!!!

more on the Oppo case
https://www.businesstoday.in/technology/story/oppo-vs-interdigital-delhi-hc-asks-oppo-to-pay-pending-royalties-or-face-sales-ban-418770-2024-02-23

https://www.business-standard.com/industry/news/delhi-hc-warns-oppo-pay-pending-royalties-or-face-potential-sales-ban-124022300992_1.html

Headline only
InterDigital’s latest win against Oppo showcases India’s attractiveness for SEP owners
Oppo ordered by Delhi High Court to pay hefty security deposit days before UK global FRAND rate proceedings get underway.

BREAKING: Avanci signs Volkswagen Group to fast-growing 5G programme
Joint licensing platform passes the 25-licensee mark in its first six months.

BoA raises target to 140

Strong end of year with 20% YoY revenue growth

Interdigital posted a strong end to the year with FY23 total revenues growing 20% to $550mn and EPS up 148% YoY to $7.61. The company's quarterly revenue cadence remains lumpy, on the back of revenue recognition timing, with 4Q23 topline declining 10% YoY due to outsized catchup royalty payments in 4Q22. This also drove gross and operating margin contraction (see Exhibit 1). However, 4Q23 EPS grew 31% YoY to $1.41, benefitting from lower interest expenses and a reduced tax rate in the quarter. Overall, InterDigital continues to widen its moat within device licensing, and the company increased its total patent filings by 70% YoY in FY23. We reiterate our Buy rating and raise our PO to $140 (from $125), now based on 17x our 2025 EV/FCF vs. prior 15x 2024E EV/FCF, as we remain confident in InterDigital's medium-term outlook and potential topline benefits from licensing agreements with Oppo and Vivo. See Exhibit 2 for our estimate revisions.

Recurring revenue supported by strong ex-handset growth

Recurring revenues from smartphones were roughly flat YoY in 4Q23 at $86mn, yet the company continues to grow via its Consumer Electronics (CE) and IoT/autos segment, which grew 14% YoY. This strength was driven by new agreements in video, solid momentum in autos and ASP uplift within the connected car ecosystem from the migration to 5G from 4G. New sources of upside include licensing of artificial intelligence (AI) technologies across all verticals, which could drive content growth and better unit royalties. Aa faster handset replacement cycle due to AI could also be a positive growth catalyst.

Better-than-expected FY24 revenue guidance

Management provided full-year guidance for FY24 revenues to reach $645mn at the midpoint, which came in well above Street's estimates of $471mn. We see additional upside from new licensing agreements and subsequent catch-up payments. For example, the final resolution of InterDigital's latest licensing agreement with Samsung for smartphones is expected to finalize by YE24.

where did you see that ??????