Can you still chase after MRVL's 24% surge? And are there still opportunities in the AI optical communication sector?

1. MRVL's surge is not accidental. I believe the core reason for Marvell's significant rise this time is not simply better-than-expected earnings. Instead, the market has re-evaluated its position in the fields of AI servers, data centers, Custom ASIC (custom AI chips), and optical communication. The market previously viewed MRVL as an ordinary chip company, but now it's starting to see it as an AI infrastructure company. Consequently, its valuation logic has changed.

2. The optical communication trend is not over yet. Many people think CPO, optical modules, and optical communication have already risen a lot. However, I believe AI training clusters are getting larger, and the data transmission demand between GPUs is also increasing. Therefore, the stronger the computing power, the higher the demand for networking and optical communication. So, optical communication isn't the end of speculation; it's entering the second phase.

3. Market capital is starting to spread from GPUs. In the past, everyone only focused on NVDA, AMD, and AVGO. Now, capital is beginning to spread to surrounding areas, including optical modules, network switches, data center connectivity, and AI ASIC. Essentially, the AI investment logic is expanding from computing power to connecting that computing power.

4. Why am I optimistic about Custom ASIC? Custom ASIC AI chips represent one of MRVL's biggest areas of potential. Because Amazon has Trainium, Google has TPU, Microsoft has Maia, and more cloud providers are developing their own AI chips. MRVL happens to be involved. I believe the future of AI chips won't be dominated by NVDA alone. The custom chip market is likely to grow larger.

5. My view on MRVL: After the short-term 24% surge, there's definitely a risk in chasing the high. But from a long-term logic perspective, MRVL's story has only just begun to gain market attention. Therefore, I think it's possible to wait for a pullback, build a position in batches, and not chase the emotional peak.

6. Optical communication sector focus: Marvell Technology, Corning, Arista Networks, Broadcom, Ciena. I believe these companies are all beneficiaries of AI data center expansion. To summarize in one sentence: The 24% surge in Marvell reflects the market beginning to reprice the logic of AI networking and Custom ASIC. The AI trend has gradually expanded from simply speculating on GPUs to optical communication, network equipment, and data center connectivity layers. I believe the main theme of optical communication is not over, but MRVL's short-term gains are excessive. Chasing highs requires caution. A better strategy might be to wait for a pullback before participating.$Marvell Tech(MRVL.US)$TENCENT(00700.HK)$Hang Seng Index(00HSI.HK)