高盛：光模块_连接率上升助力更可持续增长；上调目标价和评级

7 July 2025 | 6:24PM CST Optical Transceiver Rising attach ratio to support better growth sustainability; raise GSe and TPs We raise our volume estimates and TPs for our covered optical names to reflect the rising attach ratio and updated GS AI server volume. We have analyzed the GPU/ASIC to transceiver attach ratio based on the reference designs released recently (link); the rising attach ratio from 1:3 (3x 800G transceivers per GPU) for H100/GB200 to 1:4.5 for B300 and 1:8 for selected ASIC fabric have ma ...