Open source keyboard lets you swap parts like magnetic Legos

MIT freshman Nathan Alspaugh designed Keybits, an open-source modular keyboard in which each key has its own RISC-V microcontroller and connects to neighboring modules via pogo pins. He estimates a full-sized keyboard would cost around $900, largely due to custom-board assembly; he is considering future sales after improving the designs and adding features such as fingerprint-sensor keys.

Analysis

No investable signal for Cherry SE (C3R): the project’s use of Cherry MX switches establishes component compatibility, not a commercial relationship or meaningful incremental demand. Even successful commercialization would likely start as a niche product; high build cost, assembly complexity, and an open-source design make meaningful volume and durable pricing power uncertain. The more relevant second-order signal is that modularity can increase component count per keyboard while narrowing the buyer pool—potentially useful for specialist component suppliers, but not enough to move a diversified supplier’s earnings absent evidence of scale.

Near term, treat this as maker-community visibility rather than a catalyst. Over 1–3 months, reassess only if the creator reports finalized designs, repeatable manufacturing, orders, or a distribution partner. Over 6–18 months, the thesis would require evidence that modular keyboards extend beyond enthusiasts into a broader upgrade or accessibility market. The contrarian risk is over-reading an unusually intricate prototype as proof of consumer demand: the stated cost structure points the other way. There is no clear basis for a directional C3R trade.

Key Decisions for Investors

• Make no change to C3R exposure on this article; the potential switch demand is unquantified and likely immaterial without commercial scale.
• Set an alert for verifiable commercialization milestones: finalized hardware, production capacity, unit orders, distribution, and whether Cherry switches remain in the design.
• Revisit the thesis only if the project demonstrates repeat purchases or a broader use case; absent that evidence, treat the story as a one-off hobby project rather than a sector demand signal.