原文：
It's slightly more nuanced. Basically, $AMD SF event is tomorrow, Wed/Thurs (July 22, 23).
From Jefferies client note, AMD is expected to provide additional disclosures around their likely scale-up CPO roadmap + MI500.
If they confirm CPO route, would positive thematically since it's not just $NVDA forcing the transition.
As for $SIVE, we'll get a better read if they're directly in AMD supply chains.
Since right now, it's possible to map it through $GFS (reportedly involved in AMD MI500 CPO work) or AYAR (which AMD invested in). But no formal confirmations.
So if you're turning in:
- CPO thematic positive: MI500 explicitly commits to CPO/optical UALink.
- AMD gives details using Ayar Labs or GF SCALE for MI500 CPO: That would be extremely positive for $SIVE, given they're the upstream laser supplier / reference laser.
Currently, Blayne Curtis from Jefferies expect AMD to work with $ALAB on UAL and $AVGO on ESUN... but juicy details are here:
"We are looking for whether AMD commits to a CPO based scale up solution and who supplies the optical engine"
We'll get a broader read through on the supply chain come Wednesday/Thursday, too early to tell today.
翻译：
稍微复杂一些。基本上，$AMD 的 SF 活动将于明天（7 月 22 日、23 日）举行。
根据 Jefferies 的客户笔记，预计 $AMD 将提供更多关于他们可能的规模化 CPO 路线图和 MI500 的披露。
如果他们确认采用 CPO 路线，这将是积极的，因为这不仅仅是 $NVDA 在推动这一转变。
至于 $SIVE，我们将在他们是否直接参与 $AMD 供应链时获得更好的了解。
目前，通过 $GFS（据报道参与 $AMD MI500 CPO 工作）或 AYAR（$AMD 投资的公司）可以间接了解。但是没有正式确认。
因此，如果你关注：
- CPO 主题积极：MI500 明确承诺采用 CPO/光学 UALink。
- $AMD 提供使用 Ayar Labs 或 GF SCALE 的 MI500 CPO 详情：这将对 $SIVE 极为积极，因为他们是上游激光供应商/参考激光。
目前，Jefferies 的 Blayne Curtis 预计 $AMD 将与 $ALAB 合作开发 UAL，与 $AVGO 合作开发 ESUN... 但有趣的细节是：
“我们正在关注 $AMD 是否承诺采用基于 CPO 的规模化解决方案，以及谁将提供光学引擎”
我们将在周三/周四获得对供应链的更广泛的了解，目前还为时过早。 📅👀
It's slightly more nuanced. Basically, $AMD SF event is tomorrow, Wed/Thurs (July 22, 23).
From Jefferies client note, AMD is expected to provide additional disclosures around their likely scale-up CPO roadmap + MI500.
If they confirm CPO route, would positive thematically since it's not just $NVDA forcing the transition.
As for $SIVE, we'll get a better read if they're directly in AMD supply chains.
Since right now, it's possible to map it through $GFS (reportedly involved in AMD MI500 CPO work) or AYAR (which AMD invested in). But no formal confirmations.
So if you're turning in:
- CPO thematic positive: MI500 explicitly commits to CPO/optical UALink.
- AMD gives details using Ayar Labs or GF SCALE for MI500 CPO: That would be extremely positive for $SIVE, given they're the upstream laser supplier / reference laser.
Currently, Blayne Curtis from Jefferies expect AMD to work with $ALAB on UAL and $AVGO on ESUN... but juicy details are here:
"We are looking for whether AMD commits to a CPO based scale up solution and who supplies the optical engine"
We'll get a broader read through on the supply chain come Wednesday/Thursday, too early to tell today.
翻译：
稍微复杂一些。基本上，$AMD 的 SF 活动将于明天（7 月 22 日、23 日）举行。
根据 Jefferies 的客户笔记，预计 $AMD 将提供更多关于他们可能的规模化 CPO 路线图和 MI500 的披露。
如果他们确认采用 CPO 路线，这将是积极的，因为这不仅仅是 $NVDA 在推动这一转变。
至于 $SIVE，我们将在他们是否直接参与 $AMD 供应链时获得更好的了解。
目前，通过 $GFS（据报道参与 $AMD MI500 CPO 工作）或 AYAR（$AMD 投资的公司）可以间接了解。但是没有正式确认。
因此，如果你关注：
- CPO 主题积极：MI500 明确承诺采用 CPO/光学 UALink。
- $AMD 提供使用 Ayar Labs 或 GF SCALE 的 MI500 CPO 详情：这将对 $SIVE 极为积极，因为他们是上游激光供应商/参考激光。
目前，Jefferies 的 Blayne Curtis 预计 $AMD 将与 $ALAB 合作开发 UAL，与 $AVGO 合作开发 ESUN... 但有趣的细节是：
“我们正在关注 $AMD 是否承诺采用基于 CPO 的规模化解决方案，以及谁将提供光学引擎”
我们将在周三/周四获得对供应链的更广泛的了解，目前还为时过早。 📅👀
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