Looking for opinions on FABC (Fabric.AI).
The bull case is pretty simple: tiny market cap, \~$28M in cash/securities, working with Kopin on a MicroLED optical interconnect for AI/GPU clusters, CES 2027 demo coming, and several undisclosed NDA partners from the Nvidia NVLink ecosystem.
What makes Fabric.AI’s technology potentially disruptive is that Neural I/o aims to replace traditional electrical links between AI chips with MicroLED-based optical interconnects. Fixing an Ai bottleneck
Pros:
Very small valuation
Real problem: bandwidth/power between GPUs
Kopin is developing/manufacturing the product and owns \~20% of FABC
NDA interest before the first public demo
Huge upside if one NDA turns into a paid design win
Cons:
Zero revenue
Heavy dilution/warrant overhang
H-7 warrants have full-ratchet protection
More funding will likely be needed
Technology still hasn’t been publicly proven on their own hardware
Strong competition from companies like Avicena
My main question is whether the upside from a successful CES demo/design win outweighs the capital structure risk.
At around $2.45, would you buy before CES or wait for proof and potentially pay more later?
Interested in bearish takes too.
