SEALSQ Corp. (NASDAQ:LAES) stock rose Thursday as the company announced a major international technology agreement.
SEALSQ revealed a memorandum of understanding with the Government of Gujarat and Kaynes SemiCon Private Limited to build a secure semiconductor center in India, underscoring India’s ambitions in advanced chip and post-quantum technology.
Strategic Semiconductor Initiative
The proposed facility will operate at Kaynes SemiCon’s campus in Sanand, Gujarat, and target up to 300 million secure chips per year.
SEALSQ, the Gujarat government and Kaynes plan to collaborate on a trusted, onshore design, testing and personalization hub for post-quantum cryptography technology.
Officials signed the MoU in the presence of Harsh Rameshbhai Sanghavi, deputy chief minister of Gujarat, highlighting the state’s push to become a global center for advanced secure semiconductor production.
The venture aims to meet demand for quantum-resistant chips in security-sensitive sectors, including government, defense and telecommunications.
Joint Venture Plans
Under the agreement, the parties aim to form a new company, tentatively named SEALKAYNESQ Ltd.
This entity will house an outsourced semiconductor test and personalization (OSTP) facility to support cryptographic key injection, secure provisioning and post-quantum enablement.
The initiative intends to decrease reliance on overseas chip personalization and bolster India’s digital sovereignty. Government incentives, private investment and direct SEALSQ funding are expected to support the project, accelerating build-out and long-term viability.
By combining SEALSQ’s post-quantum expertise with Kaynes’ manufacturing base and Gujarat’s institutional backing, the initiative could position the region as a hub for next-generation secure technologies.
LAES Price Action: Sealsq shares were up 15.55% at $5.36 at the time of publication on Thursday, according to Benzinga Pro data.
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