CITIC Securities: High-speed optical module demand continues to grow rapidly, with the potential for scale-up to open up new market space.

CICC Securities released a research report stating that with the rapid upgrade and iteration of GPU and ASIC, computing power performance continues to improve, while the demand for data transmission also increases significantly. In AI data centers, more and more customers tend to choose network hardware with larger bandwidth. The larger the bandwidth, the lower the cost, power consumption, and size of transmitting one unit of bit. The high growth rate of 800G optical modules already reflects the urgent demand for bandwidth in AI. In 2026, the demand for 800G optical modules is expected to continue to grow rapidly, while the shipment scale of 1.6T will also increase significantly, and the R&D of 3.2T optical modules has officially begun layout. It is continuously recommended to focus on the optical module/optical device/optical chip sector, including leading optical module companies, optical module companies expected to achieve breakthroughs in the market and with clients, upstream optical chip/laser and optical device companies, and some companies entering the field through acquisitions.