原文：
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
原文：
"Potential FCC rules on optical transceivers more likely to come at 3.2T" - $LITE, $AAOI, $COHR, $SIVE.
Morgan Stanley met with Washington officials:
- Restrictions would likely start at 3.2T modules made in China (800g/1.6T would be left alone)
- Potential restrictions would likely keep laser market tight (combining US DSPs + lasers could meet the 65% US value threshold per MS)
- Chinese modules could qualify if 65% of bill of materials is US content. Chinese modules using US DSPs and lasers are already near that level
- Analysts expect the positive impact on laser pricing... to be more important than any broad redistribution of transceiver market share.
- Analysts don't expect this to bottleneck hyperscaler AI buildouts, they name InP substrate supply as the key variable to watch (hello $AXTI )
TLDR:
Component suppliers in general are really positive. Like $SMTC probably winner here for TIAs/drivers (I don't think this was listed), maybe $MXL for DSPs too.
$AAOI another large beneficiary.
$SIVE is high-key alpha for laser beneficaries since they have "tremendous capacity" coming online, and that points to US foundries (they haven't formally disclosed location).
Since previous slideshows show 2 US foundries 1 Taiwan foundry (Win Semi) in terms of their capacity partnerships. And it's process of elimination.
From CIOE Channel checks it does look like they're starting to work with Chinese pluggable players, (so they'd avenues moving forward as US supply chain component beneficiaries).
Of course $LITE / $COHR would be happy.
TLDR: Western supply chains for Lasers / DSPs / TIAs / others are already bottlenecked but qualified capacity becomes even more important.
翻译：
“潜在的 FCC 对光收发模块的规则更可能在 3.2T 时出台” - $LITE、$AAOI、$COHR、$SIVE。
摩根士丹利与华盛顿官员会面：
- 限制可能从中国制造的 3.2T 模块开始（800g/1.6T 将被保留）
- 潜在限制可能使激光市场保持紧张（美国 DSP 与激光器组合可满足摩根士丹利所说的 65% 美国产值门槛）
- 若物料清单中
"Potential FCC rules on optical transceivers more likely to come at 3.2T" - $LITE, $AAOI, $COHR, $SIVE.
Morgan Stanley met with Washington officials:
- Restrictions would likely start at 3.2T modules made in China (800g/1.6T would be left alone)
- Potential restrictions would likely keep laser market tight (combining US DSPs + lasers could meet the 65% US value threshold per MS)
- Chinese modules could qualify if 65% of bill of materials is US content. Chinese modules using US DSPs and lasers are already near that level
- Analysts expect the positive impact on laser pricing... to be more important than any broad redistribution of transceiver market share.
- Analysts don't expect this to bottleneck hyperscaler AI buildouts, they name InP substrate supply as the key variable to watch (hello $AXTI )
TLDR:
Component suppliers in general are really positive. Like $SMTC probably winner here for TIAs/drivers (I don't think this was listed), maybe $MXL for DSPs too.
$AAOI another large beneficiary.
$SIVE is high-key alpha for laser beneficaries since they have "tremendous capacity" coming online, and that points to US foundries (they haven't formally disclosed location).
Since previous slideshows show 2 US foundries 1 Taiwan foundry (Win Semi) in terms of their capacity partnerships. And it's process of elimination.
From CIOE Channel checks it does look like they're starting to work with Chinese pluggable players, (so they'd avenues moving forward as US supply chain component beneficiaries).
Of course $LITE / $COHR would be happy.
TLDR: Western supply chains for Lasers / DSPs / TIAs / others are already bottlenecked but qualified capacity becomes even more important.
翻译：
“潜在的 FCC 对光收发模块的规则更可能在 3.2T 时出台” - $LITE、$AAOI、$COHR、$SIVE。
摩根士丹利与华盛顿官员会面：
- 限制可能从中国制造的 3.2T 模块开始（800g/1.6T 将被保留）
- 潜在限制可能使激光市场保持紧张（美国 DSP 与激光器组合可满足摩根士丹利所说的 65% 美国产值门槛）
- 若物料清单中
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