8 January 2026 | 8:59AM HKT Equity Research Global Optical transceivers: Raising value TAM by 43% / 46% in 2026-27E with 800G / 1.6T at 38m / 14m units in 2026E on AI trend We update our Global Optical Transceiver market TAM forecast and raise our 2026-28E estimates following the updates in our global server outlook (report link), in which we raised AI servers implied AI chips volume by 14% / 22% in 2026 / 27E, with the ASIC penetration rate raised to 50% in 2027E (vs. 45% previously), reflecting the contin ...