Ren

Facts not opinions ⚡️

[Ren @Ren_Research_]

Yole Group put together a Co-Packaged Optics Industrial Ecosystem map on 2025.

It's one of the best single view of the CPO supply chain, public and private companies across every layer.

Here's the extended list, with tickers where they're public.

PIC design

Nvidia — $NVDA
Broadcom — $AVGO
Marvell — $MRVL
Lightmatter — private
Celestial AI — private
Ayar Labs — private
Enosemi — private

ASIC & xPUs design

Nvidia — $NVDA
Broadcom — $AVGO
Marvell — $MRVL
Intel — $INTC
AMD — $AMD
MediaTek — $2454.TW — OTC: $MDTKF

Laser

Lumentum — $LITE
Broadcom — $AVGO
Coherent — $COHR
Sivers Semiconductors — $SIVE.ST — OTC: $SIVEF
Scintil Photonics — private
Scape Photonics — private
Quintessent — private

Foundries

TSMC — $2330.TW — ADR: $TSM
GlobalFoundries — $GFS
SilTerra — parent Dagang NeXchange $5216.KL
NSTIC — research body, not public
IMEC — research body, not public
Leti — research body, not public
ITRI — research body, not public

SOI wafer & Epi-wafer

Soitec — $SOI — OTC: $SLOIF
Shin-Etsu Chemical — $4063.T — OTC: $SHECY
LandMark Optoelectronics — $3081.TWO
IQE — $IQE.L — OTC: $IQEPF
Shanghai Simgui — $688126.SS
Sumitomo Electric — $5802.T — OTC: $SMTOF
VPEC — $2455.TW
AXT — $AXTI

Packaging / Assembly / Test

ASE Holdings — $3711.TW — ADR: $ASX
Foxconn / Hon Hai — $2317.TW — OTC: $HNHPF
Fabrinet — $FN
SPIL — part of ASE ($ASX)
ShunSin — $6451.TW
Amkor — $AMKR
Jabil — $JBL
JCET — $600584.SS
Teradyne — $TER
FormFactor — $FORM

EIC, Retimers, SerDes, PHY

Marvell — $MRVL
Credo — $CRDO
MACOM — $MTSI
Semtech — $SMTC
Alphawave — AWE.L—Qualcomm(AWE.L — Qualcomm ( AWE.L—Qualcomm(QCOM) acquisition, confirm close
Astera Labs — $ALAB

System / Equipment

Nvidia — $NVDA
Cisco — $CSCO
Dell — $DELL
HPE — $HPE
Micas Networks — private
Ruijie — $301165.SZ
Inventec — $2356.TW
Wistron — $3231.TW
Wiwynn — $6669.TW

Connectors & Fibers

Corning — $GLW
TE Connectivity — $TEL
Molex — private (Koch)
Samtec — private
US Conec — private
YOFC — $6869.HK
Sumitomo Electric — $5802.T — OTC: $SMTOF
Hengtong — $600487.SS
Luxshare — $002475.SZ

End customers

AWS — $AMZN
Microsoft — $MSFT
Meta — $META
Tesla — $TSLA
Tencent — $0700.HK — OTC: $TCEHY
ByteDance — private
OpenAI — private
xAI — private