花旗：中国CPO深度报告
花旗·2025-03-12 02:16
Vi e w point | 11 Mar 2025 18:00:35 ET │ 44 pages ChinaCommunications Infrastructure CPO is Coming But Adoption Takes Time; Buy T&S/TFC Optical as Networking Winners in Channel Expansion CITI'S TAKE Although Nvidia may introduce CPO switches during its GTC conference, we expect CPO switch adoption to take time and gradually reach ~25-30% in 2028-29, thus parallel volume growth of transceiver names and CPO- related players in 2026-27 is likely. CPO Scale-up (OIO) for xPU- interconnection remains a lucrative ...