Lightmatter Stock: Bright IPO Prospects or Just a Flicker?
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Explore opportunities to own the Lightmatter stock as the potential for an IPO or acquisition grows. Invest in pre-IPO AI startups like OpenAI and Anthropic via the Fundrise Innovation Fund*. $10 minimum investment.
Table of Contents
Notable Lightmatter News
11/14/2024: Lightmatter and Global Foundries Partner
10/16/2024: Lightmatter Raises $400M Series D
03/01/2024: Startup accelerates progress toward light-speed computing
05/31/2023: Lightmatter Raises $154M Series C
Older news…
About Lightmatter
Lightmatter is a Mountain View, CA-based photonics supercomputing company that creates energy-efficient computer chips designed for artificial intelligence (AI) and other types of advanced computing.
The company was launched in 2017 from a research project by Dr. Nicholas Harris, Darius Bunandar, and Thomas Graham at the MIT Research Laboratory of Electronics.
Instead of using traditional electricity-based components like most computer chips, Lightmatter combines optics (light) with electronics to process data. Its chips make calculations faster and more energy efficient.
The Passage photonics chip is the company’s primary product, which uses light for calculations, making it faster and less power-hungry than regular chips. These chips are designed to handle the vast amounts of data involved in AI tasks, such as training large AI models.
Lightmatter also integrates its photonics chips into systems that AI and other companies can use for their computing needs while reducing their energy usage.
AI requires massive computing power and electricity. Lightmatter’s technology is designed to handle AI tasks while saving energy and being more environmentally friendly by reducing consumption.
Photonics is one of several accelerating technology trends — including quantum computing, fusion energy, and the next generation of nuclear power — needed to support the heavy energy consumption and computing needs of artificial intelligence.
Here’s a video of Lightmatter’s Nick Harris presenting at Sequoia Capital about how the company’s technology will enable AI computing scale at reduced energy consumption.
Ownership
Lightmatter is a venture-backed startup. Its equity ownership participants include the founders, employees, and high-profile venture capital firms.
Prominent investors include GV, T. Rowe Price, Fidelity, Matrix Partners, Spark Capital, SIP Global, Trajectory Ventures, HPE Pathfinder, Viking Global Investors, Harvard Innovation Launch Lab, Sequoia Capital, Aliya Capital Partners, Calm Ventures, Agave SPV, and Bossa Invest.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series D | 10/16/24 | $4.4B | $400.00M | $80.23 |
| Series C2 | 12/18/23 | $1.20B | $155.00M | $26.00 |
| Series C1 | 05/01/23 | $637.50M | $153.00M | $26.00 |
| Series B | 05/05/21 | $240.00M | $80.00M | $8.77 |
| Series A1 | 02/10/19 | $99.50M | $22.00M | $5.9 |
| Series A | 12/21/17 | $31.00M | $11.00M | $2.75 |
| Accelerator/Incubator | 04/30/17 | NA | $80.00K | NA |
| Source: Caplight |
Valuation
The latest confirmed Lightmatter valuation is $4.4 billion based on the Series D funding round completed in October 2024.
Pre-IPO platform data from Hiive suggests an active marketplace for Lightmatter private shares, albeit at a discounted valuation.
IPO Potential
The Lightmatter IPO date has yet to be determined and is likely years away. The CEO has not indicated the company’s ambitions to become a private company.
As a hardware company, Lightmatter is limited by its capability to manufacture, package, and distribute its products. Lightmatter has inked partnerships with Global Foundries, Advanced Semiconductor Engineering, and Amkor to productize its chips, but refining the manufacturing and distribution workflow will take time.
The current phase will take substantial capital investment to meet customer demand. We’ve seen large VC investment into Lightmatter in 2024 and expect to see more as the company scales.
Lightmatter is expected to seek additional private capital and valuation increases before taking the necessary regulatory steps required to go public.
Clues about a forthcoming IPO will likely precede the regulatory filings. Hiring a CFO with IPO experience is an indicator, as is talking to various investment banks.
An acquisition is another possibility as large tech companies vie for AI dominance.
How to Invest in Lightmatter Stock
Savvy investors may find opportunities to own the company before and during the IPO.
Because of the SEC accreditation requirement, most individuals cannot own Lightmatter stock directly via pre-IPO investing platforms. However, accredited investors can explore private ownership.
Non-accredited investors can evaluate venture capital funds to find access to pre-IPO startups, but we have not seen opportunities for non-accredited investors to own Lightmatter stock.
The most likely way for most investors to own Lightmatter stock is to wait for the IPO and buy shares after it goes public. As a private company, shares are not readily available to non-accredited investors.
Here are some potential options to own Lightmatter stock before, during, and after the IPO.
1. Access Lightmatter stock pre-IPO
Multiple pre-IPO investment platforms have recently offered Lightmatter stock for early purchase as employees or early investors have sought to sell some of their shares before the Lightmatter IPO.
Accredited investors can invest when available, provided they are registered on the platform and receive notifications about their availability.
Monitor pre-IPO investing platforms such as Hiive, Forge Global, EquityZen, and Linqto for availability. Linqto had recent availability; check for the latest.
Investment minimums on these platforms range from $2,500 to $50,000, and deal-specific minimum investment amounts will vary.
Venture capital funds are an asset class that emerged in 2022 that allows non-accredited investors to own pre-IPO startups.
The Fundrise Innovation Fund (review) is the most promising for patient, long-term investors. It holds multiple AI and technology startups. U.S.-based investors can make their first investment for $10.
However, Lightmatter is not currently a fund holding. Fundrise has indicated that AI companies will be a foundational target sector. Investors can own other AI private stocks like OpenAI, Anthropic, and Databricks in lieu of Lightmatter.
Check out our top pre-IPO investing platforms for the latest share availability.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Participate in the Lightmatter IPO through a broker
When a company eventually goes public, investors can attempt to buy the stock during the IPO.
Historically, only Wall Street’s top customers can invest in IPOs. But now, ordinary investors can access IPOs through participating discount brokers.
Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.
TradeStation has a more established track record of accessing more than 400 IPOs and secondary offerings via its partnership with Click Markets.
Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy the stock after the Lightmatter IPO
Waiting for the IPO provides access to established financials after the initial trading quarter, whereas pre-IPO investing has reduced transparency.
High-demand companies may be overvalued at the time of their public offering, selling shares near their peak. Share may be at risk of significant losses upon market corrections.
Despite high initial valuations, stock prices sometimes decline after the first and second-quarter earnings reports post-IPO. For example, Rivian and Robinhood dropped over 80% six months after their 2021 IPOs. 2021 was an anomaly but demonstrates the risk of chasing overvalued IPOs.
While stock price declines can make good entry points for long-term buy-and-hold investors, watch out for lockup expirations and earnings discrepancies as they may impact price movements.
Patience is essential. The most disruptive companies may perform better over time.
Frequently Asked Questions (FAQs)
Is Lightmatter publicly traded?
No. Lightmatter is not publicly traded. It is a private company.
What is the Lightmatter stock price?
Since Lightmatter is not publicly traded on a stock exchange, there is no public Lightmatter stock price yet.
However, Lightmatter completed its October 2024 Series D funding round at a stock price of around $80 per share.
Pre-IPO marketplace data can offer some guidance on the current price. Trades on the Hiive platform in late December 2024 indicate shares have traded hands at a discounted price near $70 per share.
What is the Lightmatter stock symbol?
There is no Lightmatter stock symbol because the company is private. The company may reserve a stock symbol while planning to file for an IPO. The reserved symbol will be revealed when the S-1 filing is released to the public.
Though private information regarding forthcoming IPOs typically leaks to the press, startup stock symbols are usually not confirmed until the filing.
Here are a few Lightmatter ticker suggestions that are available on U.S. exchanges:
- LM
- LMTR
Where is the Lightmatter IPO S-1 Filing?
The Lightmatter S-1 filing has not been released to the public, and there is no indication of a confidential filing.
The document will become available if the company submits filings to the SEC and the regulatory commission approves and releases it to the public.
We’ll post a copy of the S-1 filing on this page when it becomes available.
You can monitor the most recent S-1 IPO filings on this website.
News Archive
07/24/2019: The story behind Lightmatter’s tech
02/25/2019: Lightmatter Enters Next Phase of Development
Conclusion
Lightmatter aims to bridge the growing gap between sustainability and the computational demands of artificial intelligence.
The company is addressing one of AI’s most pressing challenges, energy consumption, by leveraging research and implementation of photonics technology developed out of MIT science labs.
As AI scales, energy efficiency will become a chip differentiator, reducing consumption costs and carbon footprint. Lightmatter’s innovative approach and intellectual property position it as a worthy competitor to other AI chipmakers, including Nvidia, Grok, and Cerebras.
Furthermore, its partnerships with established semiconductor manufacturers like Global Foundries and Amkor underscore its strategic intent to scale production and meet market demands.
Interested investors can monitor Lightmatter’s CEO statements for IPO ambition, and milestones such as hiring a CFO or regulatory filings, as these could indicate readiness for public markets.
When pursuing IPO shares and early equity in Lightmatter stock, have reasonable expectations. Shares may be unavailable or restricted for ordinary investors looking to own the stock.
Invest in pre-IPO and IPO companies with caution. Good luck if the Lightmatter IPO is on your watch list.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
Risk Statement: Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Access IPOs is for informational purposes only. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing.
