光模块，卖爆了

Group 1 - The core viewpoint of the article highlights the unprecedented capital expenditures by major tech companies, with Alphabet, Amazon, Meta, and Microsoft setting records in Q3 2025, while Oracle's capital expenditure decreased by 6% quarter-over-quarter but increased by 269% year-over-year [1] - The total capital expenditure of these five companies exceeded $307 billion in the first nine months of 2025, creating significant pressure on the supply chain, with demand for many products, including optical modules, exceeding supply by two times or more [1] - TSMC plans to double its 2nm chip production capacity next year and is also increasing its 3nm chip capacity, contributing to Nvidia's record revenue of $57 billion in Q3, a 62% year-over-year increase and a 22% quarter-over-quarter increase [1] Group 2 - Broadcom reported record revenue of $18 billion, a 28% year-over-year increase and a 13% quarter-over-quarter increase, significantly exceeding its September guidance [2] - AI-related order backlog for Broadcom exceeds $73 billion, with plans for delivery within the next 18 months [2] - AMD reported revenue of $9.2 billion, a 36% year-over-year increase and a 20% quarter-over-quarter increase, also surpassing its August guidance [2] Group 3 - Optical module suppliers exceeded expectations, with Acacia Technologies achieving nearly $1.43 billion in revenue in Q3 2025, a 57% year-over-year increase and a 27% quarter-over-quarter increase [2] - Coherent's revenue reached a historical high of $1.58 billion, a 17% year-over-year increase and a 3% quarter-over-quarter increase [2] - LightCounting forecasts that sales of optical modules and related products will exceed $23 billion in 2025, a 50% increase from 2024, with Ethernet optical module sales expected to reach $17 billion, a 60% increase from the previous year [2] Group 4 - AEC sales also reached a new high last quarter, with Credo's revenue at $268 million, a 272% year-over-year increase and a 20% quarter-over-quarter increase [3] - The AEC product line remains the fastest-growing segment for Credo, with four hyperscalers contributing over 90% of total revenue [3]