Hyperlume, a deep-tech company based in Ottawa, has been acquired by San Jose-based semiconductor firm Credo Technology Group for $128 million.
Hyperlume was co-founded by University of Waterloo alum Dr. Mohsen Asad (PhD '20, electrical and computer engineering) in 2022. Its technology makes AI data centres faster, cheaper and more energy efficient.
Instead of using traditional copper wires to move data between chips and processors, Hyperlume built light-based connectors — using a technology called microLEDs — that eliminate energy and bandwidth bottlenecks in AI data centres. The company claims its connectors deliver tenfold computing performance gains, five times the power savings, and costs four times lower than conventional copper alternatives.
Credo, a Nasdaq-listed semiconductor company, cited Hyperlume's microLED technology as central to building out next-generation AI data centre infrastructure. Credo has retained Hyperlume's Ottawa operations and is actively hiring for seven technical roles in the capital.
Asad told BetaKit that he anticipates deals like this will sustain cutting-edge Canadian tech jobs and nourish domestic entrepreneurship over the long term.