Zhongji Innolight's Interim Report covering optics:

> Silicon photonics penetration in the global datacom optical interconnect market is expected to rise further, from about 38% in 2025 to about 73% in 2030.

> Optical interconnects accounted for about 5% of global AI capex in 2025, and are expected to reach about 10% over the long term. The global datacom optical interconnect market is projected to grow from $19.4 billion in 2025 to $98.6 billion in 2030, a compound annual growth rate of 33.8% from 2026 to 2030.

Regarding CPO:

> CPO is described as currently viewed as one of the most highly integrated optical packaging solutions, assembling the switch ASIC chip and optical engine together on the same substrate.

> The report states CPO is still in the development stage, facing challenges around technology and ecosystem maturity, manufacturing consistency, cost, and maintainability.

> Over the long term, CPO will coexist with pluggable optical modules and other connectivity solutions (rather than fully replacing them).

$Lumentum(LITE.US) $Coherent Corp.(COHR.US) $Applied Optoelectronics(AAOI.US) $Broadcom(AVGO.US) $NVIDIA(NVDA.US)