原文：
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
原文：
We got $LITE, $MTSI, $AAOI all pointing to extreme demand imbalances with lasers/TIA/DSP/etc from earnings...
And now Elazr GM at their investor conference stated:
Optical supply is still far behind the market demand, the expected AI optical supply chain are likely to continue for years.
- "the entire supply chain is out of stock"
- "the supply is still far behind the market demand"
- "the shortage will continue to the next few years"
"Whether it is PCB, carrier board, laser chip, or even related packaging capacity, as long as the AI supply chain link, almost all are in short supply."
When demand visibility extends for years with the supply chain bottlenecked:
It's getting difficult not to see photonics echoing the memory supercycle entering 2027.
翻译：
我们从 $LITE、$MTSI、$AAOI 的财报里都看到了激光器/TIA/DSP 等出现极度供需失衡……
而现在 Elazr 总经理在他们的投资者大会上表示：
光学供应仍远远落后于市场需求，预期 AI 光学供应链的紧张局面很可能还会持续多年。
- “整个供应链都缺货”
- “供应仍远远落后于市场需求”
- “短缺还将持续到未来几年”
“无论是 PCB、载板、激光芯片，还是相关封装产能，只要属于 AI 供应链环节，几乎都在短缺。”
当需求可见性延伸到数年，而供应链又被瓶颈卡住时：
很难不把光子学看成正在重演内存超级周期，并一路延续到 2027 年。
We got $LITE, $MTSI, $AAOI all pointing to extreme demand imbalances with lasers/TIA/DSP/etc from earnings...
And now Elazr GM at their investor conference stated:
Optical supply is still far behind the market demand, the expected AI optical supply chain are likely to continue for years.
- "the entire supply chain is out of stock"
- "the supply is still far behind the market demand"
- "the shortage will continue to the next few years"
"Whether it is PCB, carrier board, laser chip, or even related packaging capacity, as long as the AI supply chain link, almost all are in short supply."
When demand visibility extends for years with the supply chain bottlenecked:
It's getting difficult not to see photonics echoing the memory supercycle entering 2027.
翻译：
我们从 $LITE、$MTSI、$AAOI 的财报里都看到了激光器/TIA/DSP 等出现极度供需失衡……
而现在 Elazr 总经理在他们的投资者大会上表示：
光学供应仍远远落后于市场需求，预期 AI 光学供应链的紧张局面很可能还会持续多年。
- “整个供应链都缺货”
- “供应仍远远落后于市场需求”
- “短缺还将持续到未来几年”
“无论是 PCB、载板、激光芯片，还是相关封装产能，只要属于 AI 供应链环节，几乎都在短缺。”
当需求可见性延伸到数年，而供应链又被瓶颈卡住时：
很难不把光子学看成正在重演内存超级周期，并一路延续到 2027 年。
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