Flash | 27 Jan 2026 10:16:12 ET │ 10 pages Corning Incorporated (GLW.N) Corning and Meta Announce $6 Billion Multi-Year Agreement to Accelerate DC Buildout; Remain Constructive on Optical Demand CITI'S TAKE Corning and Meta have announced a multiyear $6 billion agreement to accelerate the build-out of advanced data centers in the United States (~1.5bln/yr). Under this agreement, Corning will supply Meta with its newest innovations in optical fiber, cable, and connectivity solutions specifically designed to ...

【环球网财经综合报道】据美联社消息，光学通信解决方案领先提供商AscentOptics正式宣布，其400G和800G光 模块产品线已成功进入大规模生产阶段，并正在向全球多个地区的云服务提供商（CSP）进行批量交付。这一举 措满足了日益增长的人工智能和云计算基础设施对高带宽连接的迫切需求，标志着公司在高速光互连技术及全球 供应链交付能力上迈出了关键一步。 近年来，生成式人工智能应用和大规模语言模型的爆发式增长，极大地推动了数据中心算力需求的攀升，同时也 对数据传输网络的带宽提出了前所未有的挑战。为了应对这些不断增长的需求，AscentOptics开发了全面的光模块 产品系列，涵盖了从短距到长距的广泛应用，传输距离覆盖100米至100公里。 据了解，此次进入大规模交付的产品采用了行业内广泛认可的QSFP-DD和OSFP封装形式，设计之初便充分考量了 兼容性，能够完美适配行业标准的Spine-Leaf架构以及各类复杂的人工智能网络布局。在应用场景方面，这些高速 光模块不仅能够满足数据中心内部局域连接的高密度、低功耗互连需求，支撑大规模计算负载和高吞吐量的东西 向流量，同时也被广泛应用于跨数据中心通信、城域网以及骨干 ...

分红方面，天孚通信A股上市后累计派现21.72亿元。近三年，累计派现15.36亿元。 机构持仓方面，截止2025年9月30日，天孚通信十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股1480.00万股，相比上期减少317.00万股。易方达创业板ETF（159915）位居第四大流通股 东，持股963.13万股，相比上期减少114.04万股。华泰柏瑞沪深300ETF（510300）位居第五大流通股 东，持股793.89万股，相比上期减少40.12万股。中航机遇领航混合发起A（018956）位居第六大流通股 东，持股697.58万股，为新进股东。永赢科技智选混合发起A（022364）位居第七大流通股东，持股 616.39万股，为新进股东。易方达沪深300ETF（510310）位居第八大流通股东，持股599.62万股，相比 上期增加7.76万股。华夏沪深300ETF（510330）位居第九大流通股东，持股428.41万股，相比上期减少 5.70万股。中欧数字经济混合发起A（018993）位居第十大流通股东，持股392.59万股，为新进股东。 万家品质生活A（519195）、华安创业板50ETF（1599 ...

Core Insights - POET Technologies Inc. has been awarded the Product Innovation Award at the 12th Infostone Communication Consultant Shenzhen Awards for its Teralight™ optical engines, which are recognized as a significant advancement in optical communications and AI compute solutions [1][2] - Dr. Mo Jinyu, Senior Vice President of Global Product Development at POET, received the Technology Innovation Award, highlighting the company's commitment to innovation and the capabilities of its engineering team [1][3] Product Innovation - The Product Innovation Award specifically recognized the 1.6T transmit and receive optical engines, which include a 1.6T transmitter engine with driver and a 1.6T receiver engine with transimpedance amplifier (TIA) [2] - The Teralight™ optical engines were unveiled at the 2025 OFC Conference and have generated significant commercial interest due to their highly integrated design and optical system-on-chip architecture, allowing customers to utilize the same board design for both 1.6T DR8 and 2xFR4 pluggable modules [4] Industry Recognition - The Infostone Awards reflect the industry's recognition of POET Technologies, which has previously won six notable competitions since June 2024, indicating a strong track record in innovation and product development [5] Technology Overview - The 1.6T optical engines utilize the POET Optical Interposer™, which eliminates wire bonds between devices to reduce RF crosstalk, achieving leading performance at the highest speeds available in the market [5] - The company's patented platform enables seamless chip-scale integration of photonic and electronic devices, catering to the artificial intelligence systems market and hyperscale data centers [6]

Core Insights - POET Technologies Inc. has won the Product Innovation Award at the 12th Infostone Communication Consultant Shenzhen Awards for its Teralight™ optical engines, specifically the 1.6T transmit and receive engines [1][2] - Dr. Mo Jinyu, Senior Vice President of Global Product Development at POET, received the Technology Innovation Award, highlighting the company's commitment to innovation in the optical communications and AI compute solutions sector [1][3] Company Achievements - The 1.6T optical engines were recognized for their groundbreaking technology, which includes a transmitter engine with driver and a receiver engine with transimpedance amplifier (TIA) [2] - The awards were presented during the IFOC 2025 Infostone Optical Communication Annual Forum, emphasizing the importance of AI solutions in the industry [1][4] - POET's Teralight™ has generated significant commercial interest due to its integrated design and optical system-on-chip architecture, allowing for simplified module development [4] Technology and Innovation - The 1.6T optical engines utilize the POET Optical Interposer™, which eliminates wire bonds to reduce RF crosstalk and achieve high performance at market-leading speeds [5] - The technology enables customers to use the same board design for both 1.6T DR8 and 2xFR4 pluggable modules, marking a significant advancement in the industry [4] Industry Recognition - The Infostone Awards represent the latest recognition for POET, which has previously won six notable competitions since June 2024, underscoring its position as a leader in optical technology [5]

Group 1 - The core viewpoint of the article highlights the rise in stock prices of optical communication concept stocks in the US market, indicating positive market sentiment in this sector [1] Group 2 - Lumentum's stock increased by over 4%, reflecting strong investor interest and confidence in the company's performance [1] - Coherent's stock rose by more than 3%, suggesting a favorable outlook for the company's future growth [1] - Astera Labs experienced a stock increase of over 2%, indicating a positive trend in the optical communication industry [1]

Summary of Conference Call Notes Industry and Companies Involved - **Industry**: Communications Equipment - **Companies Covered**: - Accelink Technologies (002281.SZ) - Eoptolink Technology (300502.SZ) - EverProX Technologies (300548.SZ) - GDS Holdings (GDS.O) - Innolight (300308.SZ) - Suzhou TFC Optical Communication (300394.SZ) - T&S Communications (300570.SZ) - VNET Group (VNET.O) - ZTE (0763.HK) Key Points and Arguments EverProX Technologies (300548.SZ) - Target price raised to Rmb122 from Rmb63, reflecting a 46.5x 2026E EPS valuation, which is +1 standard deviation above the 5-year historical mean due to stronger earnings growth projected at a 152% 3-year CAGR [2][11] - 2025/26/27E earnings increased by 1%/26%/45% driven by robust overseas demand for MPO/AOC components, datacenter cables, and optical transceivers [2][11] - Rated as Neutral due to high current trading P/E of ~45x compared to T&S Communications at ~32x, indicating less upside potential [2][11] Suzhou TFC Optical Communication (300394.SZ) - Target price increased to Rmb222 from Rmb196, with 2026/27E earnings raised by 36%/56% due to anticipated growth in the 1.6T light engine market [3][15] - Maintained Buy rating, citing strong long-term earnings growth potential from CPO/OIO total addressable market opportunities and expected sales of FAU, ELSFP, and MT products [3][15] ZTE (0763.HK) - Downgraded to Neutral from Buy, with target price raised to HK$29.20 from HK$27.50 [4][19] - 2025/26/27E earnings reduced by 16%/14%/11% due to margin impacts from a ramping server business and memory price effects on the smartphone segment, partially offset by tighter operating expenses [4][19] - Valuation set at 15.0x 2026E P/E, which is 1.5 standard deviations above the stock's historical average, supported by positive sentiment towards AI server developments [4][19] Accelink Technologies (002281.SZ) - Coverage transferred with a maintained Sell rating and target price of Rmb24.60 [8][20] Eoptolink Technology (300502.SZ) - Coverage transferred with a maintained Buy rating and target price of Rmb472.00 [9][21] GDS Holdings (GDS.O) - Coverage transferred with a maintained Buy rating and target price of US$51.20 [12] Innolight (300308.SZ) - Coverage transferred with rating suspended [13] T&S Communications (300570.SZ) - Coverage transferred with a maintained Buy rating and target price of Rmb137.00 [16] VNET Group (VNET.O) - Coverage transferred with a maintained Buy rating and target price of US$20.00 [17] Other Important Information - The report indicates potential conflicts of interest due to the firm's business relationships with covered companies, advising investors to consider this report as one of several factors in their investment decisions [5] - The report is not for distribution in the People's Republic of China, excluding Hong Kong and Qualified Foreign Institutional Investors [5]

Core Viewpoint - Corning Incorporated (NYSE:GLW) is recognized as a strong growth stock, with positive sentiment from Wall Street ahead of its fiscal Q4 2025 earnings report expected on January 28 [1] Group 1: Analyst Ratings and Price Targets - J.P. Morgan reiterated a buy rating on Corning without disclosing a price target [1] - Morgan Stanley raised the price target from $82 to $98 while maintaining a Hold rating, indicating a positive outlook on the stock due to the expansion of AI trades benefiting infrastructure stocks [2] Group 2: Financial Expectations - Wall Street anticipates Corning to report a revenue of approximately $4.35 billion for Q4 2025, with a GAAP EPS of $0.62 [3] - Management also expects Q4 revenue to be around $4.35 billion, with core EPS projected between $0.68 and $0.72 [3] Group 3: Business Segments - Corning operates in various sectors including optical communications, display technologies, environmental technologies, specialty materials, and life sciences [3]

Core Insights - The article discusses the challenges and innovations in large-scale AI computing centers, particularly focusing on the need for high-density optical connections to enhance data transmission efficiency [1][3][6]. Group 1: Industry Challenges - Large-scale computing clusters consume power equivalent to a medium-sized city and face engineering challenges in managing extensive cabling within limited physical space [1]. - The complexity of wiring increases exponentially as the number of accelerator cards grows, necessitating advanced high-density wiring solutions [1][3]. - The transition from Scale-out to Scale-up architectures in data centers highlights the need for efficient interconnections between GPUs within a single cabinet [8]. Group 2: Technological Innovations - Corning is expanding its optical communication factory in Shanghai to introduce high-density optical connection technology tailored for AI computing centers [6][16]. - The company aims to reduce the physical size of fibers and connectors, thereby freeing up valuable physical space in crowded computing clusters [6][10]. - Corning's SMF-28Contour fiber reduces the outer diameter from 250 microns to 190 microns, allowing for nearly double the connection capacity in the same cable space [9]. Group 3: Market Dynamics - The demand for high-density connections is becoming a necessity for cloud vendors building large-scale AI computing centers, shifting from a "nice-to-have" to a "must-have" [15]. - The rapid growth of AI model parameters has transformed the internal connection requirements of data centers, necessitating advanced solutions [8][14]. - Corning's local manufacturing capabilities enable faster response times and customized solutions for clients, enhancing operational efficiency [30][32]. Group 4: Local Manufacturing and Workforce - Corning's factory in Shanghai represents a significant investment in local high-end manufacturing capabilities, contributing to the development of skilled labor in the region [39]. - The production process relies heavily on skilled workers due to the customized and non-standard nature of optical connector products [19][27]. - The company's commitment to local production supports rapid delivery and co-design capabilities, crucial for meeting the fast-paced demands of AI data center projects [30][32]. Group 5: Future Outlook - Corning is positioning itself to address future challenges in long-distance data transmission with multicore fiber technology, which aims to increase transmission capacity [40]. - The company is also exploring the potential of co-packaged optics (CPO) technology to further reduce power consumption and latency [40][41]. - Corning's evolution from product introduction to ecosystem cultivation in China reflects its strategic approach to maintaining a competitive edge in the rapidly evolving digital infrastructure market [42][44].

Core Viewpoint - The U.S. optical communications sector experienced a broad decline on Wednesday, with notable drops in stock prices for several companies [1] Group 1: Company Performance - Lumentum (LITE.US) saw a decline of over 5% [1] - Astera Labs (ALAB.US) experienced a drop of more than 3.5% [1] - Credo Technology (CRDO.US) fell by over 2.7% [1]