Serene

[Serene @Atiria]

@HTSThesis @aleabitoreddit last year December I recall

[Serene @Atiria]

@trentreed27 Just get all of them and be done with it

[Serene @Atiria]

@Lagranciano In my heart no BMW beats this one

[Serene @Atiria]

@cherryPayment 我记得很清楚三月份从快800跌到580

[Serene @Atiria]

@SawyerMerritt So it marks the end of M3

[Serene @Atiria]

@DwayneS96420464 @GHOSTDATA_ It’s not inflation.
It’s free market!

[Serene @Atiria]

@VideoCardz What a joke

[Serene @Atiria]

@candyheadgoro 怕啥啊🤓

[Serene @Atiria]

@kingluffywang Cerebras至今都没破发

[Serene @Atiria]

@NickSung2017 买了5开头的 $DRAM

[Serene @Atiria]

@TrinkleWesley @jonesrrrrrr As far as I’m concerned you only need to pay for $SIVE because it’s from Swedish exchange. $2DG is from Germany and it’s free be default

[Serene @Atiria]

@nihaomonica @jonesrrrrrr Only differences are liquidity and exchange rate

[Serene @Atiria]

@TrinkleWesley @jonesrrrrrr You don’t need to pay a penny for this one

[Serene @Atiria]

@manateelazycat 不错
比海淘便宜

[Serene @Atiria]

@suyu2018block $LPK 过去俩月已经三倍了

[Serene @Atiria]

@aaronp613 Noooooooo

[Serene @Atiria]

@alc2022 Duolingo is literally useless…

[Serene @Atiria]

@Liaoleefei @bboczeng 翻了五六倍了 有问题？
https://t.co/nOPSsUQSXA

[Serenity @aleabitoreddit]

I entered $ALAB, $NBIS, $TSM, and $LITE because of Mag7 funneling revenue numbers into them.

Lite uniquely because of its role in GOOGL TPU v7, AMZN Trainium v3/4, and NVDA Blackwell.

But there's a new one I found out about.

A small cap <$3B player that fits the thesis:

Name - $AAOI

A small cap photonics player, and one of the two photonics players I'm invested in:

1. Lumentum is uniquely positioned in every single supply chip deployment/ramp, as the Optical Circuit Switching technology is used in Blackwell, Trainium, and Ironwood as a "scale-across" type technology.

$LITE wins no matter what. Hyperscaler ASIC vs. GPU as it's in the center of it all.

2. Applied Optoelectronics is more of the "scale-out" connectivity, for custom ASIC clusters like Trainium, Maia through 400G and 800G optical cables and transceivers.

$AAOI wins no matter what as well given its role with AWS as a whale client for Trainium, and with MSFT Maia ASICs.

The industry is going through a "supercycle" driven by the migration to 800G speeds and AAOI is in the center of it.

On top of that, AAOI plays unique geopolitical angle,
America first.

Unlike many other companies that are fabless and export production elsewhere to Taiwan, Applied Optoelectronics makes their own lasers in Texas.

US hyperscalers (specifically Amazon and Microsoft) are aggressively reducing reliance on Chinese supply chains for critical infrastructure and that helps AAOI’s ability to manufacture lasers at home.

And we've seen another huge volume order from a "major hyperscaler" on its 800G data center transceivers.

But AAOI trades like a distressed company; however, the implied revenue of its Amazon warrant agreement creates an asymmetric risk/reward profile on its 800G ramp in Q4 2025 and FY2026. AAOI seems structurally undervalued, given its role in the AI buildout and existing hyperscaler contracts.

The markets are finally catching up to LITE, but it feels $AAOI is yet to begin, given its small market cap size but unique angle of a critical player to hyperscaler ASIC clusters and Made in America.

The market is currently re-rating heavily with photonics players and assigning a heavy premium, yet AAOI is only up 2.20% this year and seems like it's just about to begin.

[Serene @Atiria]

@leonskisserr Requiem