โWe expects the prices to increase to $53/GB in 2027, when Vera Rubin will be shipping in volume.โ
Bernstein is very bullish on 2027 HBM4 pricing. LFG!!!
This is an amazing video recommendation from Jukan about CPO.
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NPO is still 50% copper, 50% optics. The real CPO ramp is unlikely to begin until 2027 when 2.5D CPO will have 20% copper and 80% optics.
In 2030, the split will be 100% optics in 3D CPO (COUPE XPU)
The true hurdle is in maintenance for CPO in 2027 and 2030.
Pluggable/OBO/NPO (Green/Yellow): If an optical laser or engine fails, field technicians can easily hot-swap a pluggable module at the faceplate, or replace an NPO module on the board without tossing the expensive ASIC.
2.5D & 3D CPO (Red): Once the PIC and laser/optical components are physically bound inside the package or stacked directly under the ASIC, they can no longer be individually serviced. If a single optical component fails, the entire high-value compute engine (the XPU/Switch) is essentially bricked.
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CPO supply chain, per @semivision_tw:
1. CSP
Nvidia $NVDA
AWS $AMZN
Meta $META
ByteDance
Microsoft $MSFT
2. SOI Wafer
Soitec
ShinEtsu
SEMCO
IntelliEPI
3. Connector
Amphenol
Senko
US Conec
T&S Communications
Samtec
LightSense
Siemon
4. Testing
WinWay
MPI Co.
Hon Precision
Chroma
5. Fiber
Corning $GLW
YOFC
Sumitomo Electric
FiberHome
Prysmian
ZTT
Fujikura
Futong Group
Hengtong Fiber
6. ELS
Furukawa Electric
Broadcom
Lumentum
Sumitomo Electric
TE Connectivity
Coherent
O-Net Technologies
7. PIC Design & EDA
IBM $IBM
Intel $INTC
Sicoya
MACOM $MTSI
Juniper
Cisco $CSCO
SiFotonics
POET Technologies $POET
Ansys - part of Synopsys
Ayar Labs
Fujitsu
Marvell $MRVL
Lumentum $LITE
Infinera
Huawei
Ranovus
Cadence $CDNS
Skorpios
Synopsys $SNPS
OpenLight
8. Foundry
TSMC $TSM
Intel $INTC
Tower Semi $TSEM
Applied Optoelectronics $AOI
Silex
GlobalFoundries $GFS
Samsung
United Microelectronics $UMC
Acacia
STMicroelectronics $STM
9. EIC & DSP Design
Broadcom $AVGO
Coherent $COHR
Lumentum $LITE
Infinera
Ciena $CIEN
MACOM $MTSI
10. Light Source
LandMark Optoelectronics
Coherent $COHR
IntelliEPI
iQe
NICHIA
Sumitomo Electric
I wasnโt planning to share this, but itโs such a high-quality explanation of CPO that I have to.
Just watch it. Youโll regret it if you donโt.
https://t.co/Z5M3TvHH2B
BREAKING: ๐จ๐ณ CHINESE AI STARTUP JUST BUILT AN AI COLLAR THAT TRANSLATES DOG BARKS AND CAT MEOWS INTO FULL SENTENCES.
WITH 95% ACCURACY ๐คฏ
THIS IS WILD
The clearest sign you can get ๐ณ
โPhysical AI is the next wave.โ
โ Jensen Huang.
Hereโs the complete Physical AI list - save it:
$NVDA: GPUs, Jetson processors, Omniverse digital twins and Isaac stack for physical AI robots.
โจ$OUST: digital LiDAR sensors for robot 3D mapping and navigation.
โจ$TSLA: Optimus humanoid robots for general-purpose physical tasks.
โจ$SYM: AI mobile robot fleets for warehouse automation.
โจ$SERV: AI sidewalk robots for last-mile urban logistics.
โจ$TER: collaborative robot arms for AI manufacturing automation.
โจ$CGNX: machine vision cameras for industrial robot perception.
โจ$AMBA: low-power AI chips for robotic computer vision.
โจ$AEVA: 4D LiDAR sensors for robot distance, velocity and mapping.
โจ$HSAI: solid-state LiDAR sensors for autonomous robot perception.
โจ$ISRG: AI-assisted da Vinci surgical robots for precision physical procedures.
โจ$ZBRA: AI autonomous mobile robots for warehouse logistics automation.
โจ$ROK: industrial automation platforms integrating AI robotics control.
โจ$ADI: sensors and power chips for robot perception and actuation.
โจ$ONDS: unmanned robotic systems for aerial and ground physical AI.
โจ$SYK: Mako AI robotic-arm systems for surgical navigation.
โจ$PRCT: AquaBeam robotic systems for minimally invasive prostate procedures.
โจ$LAZR: Luminar LiDAR sensors for 3D robot and autonomy perception.
โจ$MBLY: Mobileye AI vision systems for robotic navigation.
โจ$TDY: machine vision cameras and imaging for industrial robot guidance.
-BP
Please note: this is not financial advice.
Top 12 Stocks to BUY now according to Leopold Aschenbrenner
1) Applied Digital $APLD
2) Bloom Energy $BE
3)CleanSpark $CLSK
4)CoreWeave $CRWV
5)Intel $INTC
6) IREN $IREN
7) Keel Infrastructure $KEEL
8) Micron $MU
9) Riot $RIOT
10) Sandisk $SNDK
11) T1 Energy $TE
12) Taiwan Semiconductor $TSM
$FCEL genuinely looks like a potential 10x in the making.
Feels similar to buying memory before the AI/data center explosion really kicked in.
Theyโre positioned in one of the hottest parts of the energy stack right now:
Behind-the-meter power generation for data centers.
What makes this interesting:
โข No air permits needed
โข Fewer regulatory bottlenecks
โข Massive demand tailwinds from AI/DC power needs
Current market cap:
~$1.2B
If execution is there, I honestly think this could grow into a $20B company over time and potentially have a move similar to what $BE had.
I'm long.
Thinking ahead to @leopoldasch's upcoming portfolio reveal, I have a feeling $NBIS may have been added.
In my view, since computing supply seemed severely lacking relative to demand, he likely had a positive outlook on neo cloud companies and allocated around 46% of his total portfolio to them.
But since it was hard to know which ones would succeed, he invested broadly across most of them โ and the reason he weighted $IREN, $CRWV, and $CORZ relatively higher was because at the time, those companies had the most notable contracts and partnerships with major players.
( $CORZ had a contract with $CRWV. )
So I think there's a good chance he's already invested in $NBIS โ given they secured the largest contract with $META this year and received investment from $NVDA.
This might already be an obvious call, but I just wanted to put my own thinking on record.
Additionally, since $DGXX's major contracts started coming in from May, there's a good chance they'll appear in his portfolio starting from the next disclosure โ and given they've been building out neo cloud infrastructure, I think there's also a reasonable probability they could be included this time around.
Curious to see whether my speculation turns out to be right or wrong.๐ค
I ran a comps valuation on 10 publicly traded AI infra operators.
Names included: $NBIS, $CRWV, $IREN, $DGXX, $CIFR, $WULF, $BRUN, $APLD, $BTDR, $WYFI.
The comps set isn't perfect (mixes neoclouds w/Bitcoin miners pivoting into HPC and AI hosting), but it provides a useful market-based benchmark.
Financials are calendarized to CY2026E so the comps are more apples-to-apples.
Here's what I found: โ
Watch a team of humanoid robots running a full 8-hr shift at human performance levels. This is fully autonomous running Helix-02 https://t.co/bIgpYuaYCj