On August 25, Serenity reported that photonic chip company Sivers Semiconductors (SIVE) will announce its earnings in two days. Currently, the market is more focused on the progress of customer certifications, joint development, and order ramp-up in its photonic business rather than short-term financial data. It is expected that Sivers will soon provide more information regarding photonic joint development, customer certifications, and contracts. AAOI previously revealed that multiple customers are seeking CPO lasers but are unable to meet demand due to capacity constraints; MTSI also indicated that many customers are competing for continuous wave (CW) laser capacity, but new capacity will not come online until the second half of 2027. If Sivers can disclose more about customer demand and capacity commitments, it will be seen as a strong signal of demand. In terms of ramp-up, Jabil (JBL) is believed to be a major source of revenue growth for Sivers in the first half of 2027, while Aeva (AEVA) is expected to contribute revenue in the second half of 2026. Additionally, joint development projects with other pluggable optical module customers are expected to gradually move from the certification phase to mass production. The market will also pay attention to Sivers' progress on its Nasdaq listing, future revenue pipeline, and early bulk orders. With the company recently completing a $70 million financing round and alleviating dilution pressure, balance sheet issues are expected to have been resolved. Market participants believe that the core valuation logic for Sivers remains the future ramp-up potential of its photonic business. If the company can further disclose locked-in CW capacity, customer demand, and future revenue scale, it may prompt the market to reassess its valuation.