[Soochow Communications & Overseas Team Zhang Liangwei/Ou Zixing] Optical Interconnect Overall Strengthens @260731

English summary

Last night, US optical interconnect stocks strengthened: Lumentum rose over 15%, Coherent over 12%, Marvell over 12%, Corning over 9%. #?Reiterating view: Optical communication leaders' guidance continues to rise. Lumentum disclosed InP capacity increasing another 50%, 1.6T optical modules delivered in the first tier, OCS signed multi-billion-dollar multi-year agreements, CPO has begun commercial shipments; Coherent's data center orders are booked through 2028; AAOI raised full-year revenue guidance to over $1.1bn, continuously validating the industry chain's high prosperity. Nvidia secures optical interconnect capacity. Nvidia invested $500m in Corning to secure capacity; Corning is building three AI-dedicated plants, fiber capacity up over 50%, optical interconnect manufacturing capability expanded 10x, further confirming the core position of optical interconnect in computing infrastructure. Related beneficiaries: 1) Large optics: key recommendation Zhongji Innolight, watch Eoptolink; ...