CLS: OpenAI announcement highlights Celestica's involvement and expertise

研报英文原文证据摘录

CLS: OpenAI announcement highlights Celestica's involvement and expertise

EQUITY RESEARCH QUICK TAKE

RBC Dominion Securities Inc.

Paul Treiber, CFA (Analyst)

Ty Sullivan (Associate)

June 24, 2026

Celestica Inc.

OpenAI announcement highlights Celestica's involvement and expertise

NYSE: CLS | USD 351.20 | Outperform | Price Target USD 440.00

Sentiment: Positive

OpenAI announces custom AI inference chip Jalapeño, highlights partnership with Celestica. OpenAI this morning unveiled

Jalapeño, OpenAI's first custom AI inference accelerator. The announcement explicitly names Celestica as a key partner for

chip implementation, board, rack system integration, high-performance networking, and scalable production systems. The

announcement characterized Jalapeño as the first step in a multi-generation compute platform, and highlighted Celestica's

expertise regarding board, rack, and system integration.

Impact: Positive. Today's announcement is the first public recognition of Celestica's involvement with OpenAI. Recall that Celestica

announced an HPS program win for a full rack AI-optimized system solution with a leading "Digital Native Company" in January

2025. OpenAI calling out Celestica further validates Celestica's differentiated design and engineering capabilities. The timeframe

for initial deployment by the end of 2026 is aligned with the timing in Celestica's initial press release. Our model assumes that

material revenue contribution from Celestica's OpenAI contract starts Q1/FY27 and ramps to $3B for the full year. OpenAI's

comment that Jalapeño is a multi-generation compute platform, along with its relationship with Celestica, suggests that Celestica's

revenue from OpenAI may rise beyond $3B per annum going forward.

All values in USD unless otherwise noted.