Palomino Laboratories Inc. Ships First Generation MicroLED Light Engine Prototypes to First Hyperscaler Customer

Announcement Highlights:

(i) First Customer evaluates prototypes and confirms the MicroLED bandwidth performance exceeded the Company’s measured data.

(ii) Company expects to sample 2^nd generation MicroLED technology to multiple customers by end of Q3 FY26.

(iii) Company expects to receive first development contract from a strategic artificial intelligence (AI) customer in Q4 FY26.

GOLETA, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Palomino Laboratories, Inc. (OTCQB: PALX) ("Palomino" or the "Company"), an innovator in AI interconnect technologies, announced it has shipped its first MicroLED light engine prototypes to its first hyperscaler customer. Furthermore, the customer completed their evaluation and provided Palomino test measurement results confirming the measured MicroLED bandwidth exceeded Palomino’s initial design targets.

The Company is investing in R&D to improve bandwidth, efficiency and power performance of its GaN MicroLED light engine technology. The Company is on-track to sample its 2^nd generation MicroLED technology with improved bandwidth performance to multiple customers by end of Q3 FY26.

With improved prototype bandwidth and power performance, the Company plans to pursue one or more development contracts to advance its MicroLEDs and align performance with its customer’s initial AI interconnect requirements. To this end, the Company expects to receive its first development contract from a strategic AI customer in Q4 FY26.

Dr. Steven Denbaars, Co-founder of Palomino Laboratories Inc. and pioneer of Gallium Nitride MicroLEDs, commented, “These first samples, confirmed by a leading hyperscaler customer, exceeded our design targets and validated that our GaN MicroLED technology is progressing.” Dr. DenBaars continued, “Now we are accelerating our next generation technology on an aggressive schedule to drive a meaningful improvement in system performance as we move toward integration within a full optical interconnect solution. With our recently announced LOI to acquire Vega Links Inc., we expect to migrate from delivering breakthrough MicroLED devices toward delivering differentiated optical links for AI applications.”

Palomino believes this work targets an increasingly urgent constraint inmodern AI interconnects, namely bandwidth and efficiency, which is widely viewed as a system bottleneck as compute performance scales faster than interconnect bandwidth, according to a 2024 IEEE Micro Journal publication from UC Berkley.

By leveraging differentiated MicroLEDs, MicroVCSELs and copper engine technologies, Palomino is focused on enabling emerging short-reach interconnect applications and delivering faster, more efficient data movement for AI data centers. According to 2025 and 2026 published market reports from LightCounting and Company estimates, the total addressable market for the Company’s AI interconnect solutions is more than $60 billion in 2031.

About Palomino Laboratories
Palomino Laboratories is an artificial intelligence (AI) interconnect technology company headquartered in Goleta, California, developing next-generation connectivity solutions for the rapidly evolving AI infrastructure market. The Company's product focus addresses AI interconnect solutions in the 0-to-50 meters range and includes: (i) silicon chipsets enhancing the speed of copper, (ii) silicon optical integrated circuits (IC’s) optimizing the performance of MicroVCSEL interconnects, and (iii) silicon and gallium nitride IC’s for MicroLED interconnects. Our chipsets enable high-bandwidth, low-latency, and energy-efficient data movement across AI systems. Palomino's solutions are designed to support the growing performance demands of AI, high-performance computing (HPC), enterprise networking, hyperscale data centers and advanced robotics as increasingly intelligent systems require faster, more efficient, and more reliable data connectivity.

For more information, please visit www.palominolabs.ai.

Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could," "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the factors listed under "Risk Factors" in the Company’s filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For further information
Palomino Laboratories Inc.
Jeffrey B. Shealy, CEO
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf098681-ec48-45f0-9725-8eaafdfd70df

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