「Stock God」 Serenity Calls for XFAB Order: Valuation Severely Misaligned with Assets, the Only High-Capacity Silicon Carbide Foundry in the U.S.

June 3. Market figure “Stock God” Serenity compared two semiconductor companies operating in European and U.S. markets. Nasdaq-listed POET has a market capitalization of approximately $2.4 billion, with its core business focused on packaging Sivers’ lasers. The firm only holds one contract worth $50 million for pre-production work, and this agreement includes attached warrants. On the other side is Europe-listed X-FAB, which carries a market cap of just $1.7 billion—but its core assets are far more valuable than its current valuation. X-FAB is among the limited number of semiconductor foundries globally funded by both the European CHIPS Act and the U.S. CHIPS Act, with expertise spanning silicon carbide (SiC), gallium nitride (GaN), micro-electromechanical systems (MEMS), and silicon photonics. Notably, its current valuation falls even below its adjusted book-to-market ratio. Serenity further highlighted X-FAB’s key competitive advantages: NVIDIA and Nokia are currently evaluating its pre-commercial silicon photonics foundry line, with production ramp-up targeted for 2027 to 2028. As a foundry, X-FAB is leading the large-scale expansion of Europe’s photonics supply chain, with deep partnerships with major European photonics institutions including IMEC, CEA-Leti, Ligentec, and Smart Photonics. Its customer base includes NanoSemi, Power Integrations, and Lite-On. To underscore X-FAB’s scarcity and strategic significance amid rising trade barriers and global supply chain localization efforts, Serenity cited an official characterization from the U.S. Department of Commerce: “XFAB is the only high-capacity silicon carbide foundry in the U.S.”