They are UK/Canadian tech company focussed on extremely high-speed connectivity IP solutions. To quote their CEO,
Alphawave IP’s technology enables data to travel faster, more reliably, using lower power. Our designs
are licensed by makers of silicon chips to enable their chips to communicate with each other. Put simply,
our connectivity solutions enable chips to handle the massive amounts of data transmission that happen
across all our connected infrastructure, from data centres and computers to wireless infrastructure and
autonomous vehicles....
They recently announced an IPO which was widely reported.
I am finding it hard to get any real information on where their innovation exactly originates from (their potential 'moat'). There is quite a lot of info on their website, but I am finding difficult to independently research their tech - Google just finds thousands of articles about the IPO announcement, and Google Scholar just yields a lot of unrelated papers and patents, manly about electroencephalography. What I can tell is that they are certainly 'cutting edge' using state-of-the-art silicon fabs with firm plans to migrate all the way to 3 or 4 nm, with interconnect speeds up to and beyond 100 Gbps. But according the Alphawave, they have basically improved SNR which leads to longer and/or more reliable data links for a given power budget, while also being relatively inexpensive (cheaper, faster, lower power - pick any three). They already have a broad (and 'unified') portfolio of products, and work with TSMC and Samsung.
They seem to be drawing a lot on the business model of ARM - they do not manufacture or sell their IP, just licence it, much like ARM. Unlike many tech IPOs, they are profitable and have been almost since inception, and the revenue and profits have risen very quickly (but of course would have to continue to do so). The 'total addressable market' is huge (estimated at $50B+), but that is rarely a good measure of future revenue.
It's just nice to see a UK tech firm (at least in part) launching on the LSE. I would be interested if anyone has researched them and if so, what they felt about their prospects.
Probably the most useful single document I have found (I've not looked too hard yet) is this: https://www.awaveip.com/media/zlmdlixf/alphawave_eitf-announcement.pdf
Some financial info here: https://www.awaveip.com/media/eiwcwzkl/alphawave-ip-hfi-2020.pdf