Group 1 - The core viewpoint of the article is that the increasing ratio of AI chips to optical modules is significantly driving the growth of the optical module industry, supported by strong demand from data centers for high-speed optical modules [2][3][4]. - Goldman Sachs has raised its sales forecasts for 800G optical transceivers to 19.9 million and 33.5 million units for 2025 and 2026, respectively, representing increases of 10% and 58% [5][6]. - The market size for optical modules is expected to reach $12.73 billion and $19.37 billion in 2025 and 2026, with year-on-year growth rates of 60% and 52% [5][6]. Group 2 - The report indicates that the valuation of leading manufacturers is expected to converge, while second-tier manufacturers may benefit from demand overflow due to the surge in 800G demand [6][8]. - Goldman Sachs highlights the potential for "cross-cycle" growth driven by the increased ratio of AI chips to optical modules, which may support higher valuation levels for companies like Zhongji Xuchuang and New Fiber [7][9]. - If Huagong Technology successfully secures orders from U.S. clients, its net profit for 2026 could be adjusted upward by 5%-24%, indicating a significant opportunity for growth [9].