SAIheat strikes merger deal with AI inference platform Canopy Wave in US$60 million pre-money transaction
SAIH•Merger with Canopy Wave
SAIheat is set to merge with AI inference and GPU cloud platform Canopy Wave, creating Canopy Wave Holdings with an expected Nasdaq ticker of CWAV.
The deal values Canopy Wave at US$60 million pre-money and SAIheat at US$40 million. Canopy Wave holders are expected to own about 54.19% of the combined company’s economic interest.
Business focus and leadership
The combined group will focus on production-scale AI inference for open-weight large language models, while retaining SAIheat’s data center infrastructure business.
Closing is targeted by the end of 2026. The combined company is expected to be headquartered in Santa Clara and led by Canopy Wave founders Tao Zhang and James Liao.
Ownership and financing terms
Canopy Wave holders are expected to control about 78.44% of the voting power, taking into account a planned US$4.5 million private placement at US$18.15 per share.
