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Summary of Key Points from the Conference Call Industry Overview - The optical module industry is experiencing high growth, with saturation expected in demand from the second half of 2025 to 2026, driven by the introduction of 1.6T solutions, primarily benefiting from the mass import of NVIDIA's C8X network card and potentially the CX9 network card initiating 3.2T demand [2][5][20] - The iteration cycle for optical modules has shortened to approximately two years, favoring leading manufacturers [2][5] Core Insights and Arguments - Domestic second-tier optical module manufacturers such as Solstice, Cambridge, and Lantech are seizing the high demand for AI optical modules to penetrate the North American market, despite the limited opportunities due to established suppliers [2][6] - Domestic optical chip manufacturers are accelerating technological advancements, with significant progress reported by Yuanjie in CW laser technology and Changguang Huaxin in 100G EML, enhancing market competitiveness [2][7][8] - The CPC (Copax) and pluggable optical module solution proposed by Xuchuang is gaining traction, having been adopted by overseas companies like Broadcom and Marvell, marking it as a significant competitor in the short term [2][13] Emerging Technologies - Liquid cooling products were prominently showcased at the 2025 data center exhibition, indicating readiness for NVIDIA's opportunities, with high demand noted [3] - OCS (Optical Circuit Switching) technology is gaining attention, with Google pushing its development and domestic manufacturers like Guangku and Lingyun Light showcasing related products [12] - NPU (Near-Package Unit) technology is emerging as a promising alternative to CPU, with expectations for earlier market adoption and significant demand for switches [11] Market Dynamics - The optical module industry is expected to see less price decline in 2026 due to strong demand and tight supply conditions, with shortages in core materials like EMA and CW light sources contributing to price stability [4][20] - The North American market's demand for 800G and 1.6T is creating opportunities for domestic manufacturers, despite the competitive landscape [6] Notable Developments - Changfei Fiber showcased an AI intelligent hub solution and hollow fiber products, achieving a significant milestone with a 100-kilometer hollow fiber link demonstrating a loss of 0.089dB per kilometer, nearing the limits of quartz fiber [4][18][19] - The rapid development of supernodes in China is being driven by major players like Huawei and ZTE, indicating a robust growth trend in the industry [14] Conclusion - The optical module industry is poised for significant changes driven by technological advancements and market dynamics, with new solutions like CPC and hollow fiber technology potentially reshaping competitive landscapes and driving growth [21]