CITIC Securities: Arista releases the XPO new generation pluggable optical module solution, focusing on the opportunity for AI optical interconnection density upgrade.

Citic Securities pointed out that on March 11, 2026, Arista Networks, together with over 45 industry partners, officially released the eXtra-dense Pluggable Optics whitepaper, proposing a new pluggable optical module standard for next-generation AI data centers. The XPO single module can provide 12.8Tbps bandwidth, with integrated liquid cooling plate supporting 400W+ power consumption, achieving 204.8Tbps switching capacity in one Open Rack Unit, representing a fourfold increase in front panel density compared to existing OSFP standards. Citic Securities believes that the launch of XPO signifies the official entry of ultra-high-density pluggable optics in AI data center optical interconnects, which will profoundly change the product form and value distribution of the optical module industry chain. It is recommended to pay attention to manufacturers that have competitive advantages in high-speed optical modules, optical engines, and liquid cooling accessories.