CITIC Securities: AI-Driven Upgrades in Optical Modules, Rapid Growth of Testing Equipment

CITIC Securities released a research report stating that since 2023, the rapid development of AI has driven the iterative updates of optical module technology. New technologies such as optical chip rate upgrades, silicon photonics integration, and CPO architecture are jointly driving the iteration and upgrading of optical module testing equipment. Coupled with the rapid expansion of AI computing power infrastructure, this has led to a simultaneous increase in both the volume and price of optical module testing equipment. Currently, international manufacturers still hold a relative lead in the high-end market for 1.6T, but domestic companies are accelerating their catch-up, with the gap continuously narrowing. There are optimistic expectations for the long-term development of the domestic optical module industry and the trend of domestic substitution in high-end optical module testing equipment.