GoKawiilGoPro is the latest surprising name to move into the AI data center market amid a merger with an optical-photonics company called Starman Optical. The shareholders of GoPro, which will remain publicly listed, will receive $285 million when the deal closes and retain around 10 percent ownership. GoPro's outstanding debt of around $92 million will be paid too.
The merger is subject to shareholder agreement, as well as regulatory approvals and closing conditions. GoPro expects the deal to close by the end of 2026.
Along with continuing to make its synonymous action cameras and run its subscription and cloud services, GoPro plans to move into new markets. Starman's optical transceivers are expected to fall under its umbrella, "extending the Company's reach into the large and rapidly growing market for AI infrastructure in optical transceivers," according to a press release. GoPro is also planning a push into the defense, government, robotics and aerospace sectors, bolstered by the combined company's IP, optics and imaging capabilities.
GoPro is following in the footsteps of shoemaker Allbirds by making an unexpected shift into AI infrastructure. As Reuters notes, GoPro briefly reached a valuation of $4 billion on its first day as a publicly traded company in 2014. Its stock has struggled in recent years, but the share price received a boost on Monday when it was revealed that YouTuber and filmmaker Markiplier (Mark Fischbach) had become GoPro's largest individual shareholder after acquiring an 8.5 percent stake.