AI Photonics · Optical Interconnect
This theme owns the optics that move data inside and between AI data centres — a layer that barely existed in Hong Kong before late 2025 and now has real depth. As GPU clusters scale, copper cabling runs out of reach and every link becomes optical, which makes transceiver and laser suppliers direct beneficiaries of cluster size rather than of chip prices. Modules: InnoLight is the world's largest supplier of 800G and 1.6T optical transceivers. Next-generation packaging: CIG Shanghai and Lightelligence work on co-packaged optics and silicon photonics, where the optical engine sits beside the switch chip. Components: Crealights designs its own silicon photonic chips, and YOFC supplies fibre and interconnect assemblies. What drives it: bandwidth per GPU, the 800G-to-1.6T upgrade cycle and laser-chip supply. The main risk is concentration — most revenue depends on a handful of hyperscalers, and US restrictions on Chinese optical modules are a live threat.24H Performance0%
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Regular Market | Last updated at Sep 01, 2026 10:34:11