（来源：伏白的交易笔记） 前言：Scale Up光互联方案渐行渐近，英伟达、谷歌、Meta等厂商从26H2开始陆续将光学引入柜内场 景。 Scale Up场景下，FAU、CW激光光源、MPO/MTP/MMC连接器价值量均有望提升。 一. FAU概览 光纤阵列单元（FAU） 是一种高精度无源光器件，通过V形槽基板将多根光纤按预设间距固定排列，形 成密集的光信号传输通道。 FAU用于连接光引擎与光纤，是光模块、CPO等设备的刚需组件。 其本质是将分散的单根光纤阵列化，与单根光纤排列相比，优势包括：高精度（微米级）、高密度（如 48芯）、低损耗、高可靠性。 1.1 组成 （1）光纤：传输光信号的核心载体，包括单模光纤（用于长距离通信）、多模光纤（用于数据中心等 短距通信）。 （2）基板：提供机械支撑，包括玻璃基板（主流）、陶瓷基板（高稳定性）、硅基板（CPO场景）。 （3）V形槽基片：用于光纤定位，实现精准排列。 1.2 应用位置 FAU主要内置于光模块内部的光引擎与光纤接口之间，分为发射端和接收端两个位置： （1）发射端（Tx）：位于激光器（VCSEL/DFB）与光纤接口之间，激光器输出的光信号通过FAU耦合 到 ...

Core Viewpoint - The article discusses the emerging market for Optical Circuit Switching (OCS) technology, highlighting its advantages over traditional electronic switches and the potential for significant market growth, particularly in data centers and AI clusters [2][4][30]. Summary by Sections OCS Technology Overview - OCS enables direct switching of optical signals between fiber ports without the need for optical-electrical-optical conversion, resulting in lower latency, reduced power consumption, and improved compatibility [2][10]. - The technology faces limitations such as longer switching times and lower channel flexibility, making it less suitable for high-concurrency communication loads [10][11]. Industry Adoption and Market Potential - Google has been a pioneer in adopting OCS technology, integrating it into its Jupiter data center network and AI clusters, which has led to significant improvements in network efficiency and cost reduction [3][19][22]. - Cignal AI projects that the OCS market could exceed $1.6 billion by 2029, with Coherent identifying a $2 billion potential market opportunity for OCS switches [4][30]. Key Players and Technological Developments - Major companies involved in OCS technology include Google, Lumentum, and Coherent, with various technological approaches such as MEMS, digital liquid crystal, and piezoelectric systems being explored [11][13][15]. - The OCS industry is moving towards open standards and collaboration, as evidenced by the establishment of the OCS sub-project under the Open Compute Project (OCP) [29]. Initial Revenue and Future Growth - Companies like Lumentum and Coherent have reported initial revenues from OCS, with expectations for continued growth as demand increases from large-scale cloud providers [30][31]. - The article emphasizes the importance of monitoring the OCS industry's trends and the potential for significant contributions to the supply chain as OCS technology becomes more widely adopted in data centers [32].

天孚通信：目前未发现因为关税政策导致客户需求的明显调整 智通财经4月8日电，天孚通信(300394.SZ)发布投资者关系活动记录表公告称，截至目前，公司订单业 务保持稳定，新产品持续上量，目前未发现因为关税政策导致客户需求的明显调整。公司泰国工厂一期 厂房在去年已经建成并投入生产，目前几个主要大客户的认证已经通过。预计近期将进一步增加产能。 二期厂房预计将于近日完成装修并投入使用，产线陆续开始设备安装和调试。公司参展OFC2025，重点 展示了面向共封装光学（CPO）和高速光模块应用的FAU（光纤阵列单元）、POSA（无源光子组件） 等产品及相关封装方案。这些产品作为光通信系统的核心部件，支持400G、800G和1.6T及以上的传输 速率，满足AI和数据中心等场景的大带宽需求。 ...