Names like: - $ASX - Sumitomo Electric - $JBL - $VICR - $GFS - $AAOI - AlChip - $TSEM - $FN - Furukawa Electric - $CLS - $NBIS - $NOK - $AMKR - $LITE - $COHR Off the top of my head. So basically, AI exposure trading in the $10-100B range. Likely have compelling ROI right now compared to indexes or $ARM to $MRVL that ran quite a bit? (Just a disclosure, only have financial interest in NBIS/TSEM/AAOI above) I mention a lot of smaller ideas, but that’s just to chase outsized returns. Still feels like many of these have room to go.

Okay... just some more weekend shower thoughts about $XFAB. I still feel like it could be the next $TSEM, just early stage at a $1.4B MC? They kinda leapfrogged current gens (which $TSEM are getting volume from) to compete for H2 2027 CPO scale up inflection point ($ASX docs cite Xfab (aka. photonixFAB) as focusing on CPO) By building out some black magic MTP (transfer printing) architecture for lasers w/ other stuff like TFLN. Basically next-gen integration IP, they're still behind on yields, sure. But $NVDA evaluating it for transceivers/switches to see if it can volume ramp. That $NOK sets the specifications/assembly for. (nvidia invested in nokia for this these switches/networking too btw). And if their MTP supply chain works... (eg. with Smartphotonics providing lasers, EU players doing assembly). It basically volume ramps with $NVDA just like why Nvidia signed long term agreements with $TSEM? Downside risk? Already below replacement book value, can always go lower yeah, but typically to a certain point. Maybe more CHIPS act subsidies next few months from chips act 2. If it doesn't go well there's SiC (152% Y/Y Growth, 195% Y/Y SiC wafer shipment growth)/GaN power semi upside. Europeans /LLMs will say "oh evaluations doesn't mean it's a future contract!". This is kinda different since the European Union is behind this effort and $XFAB for soverign photonic supply chains. Not your typical company + hyperscaler evaluation, since $NVDA wants to be nice to Europe's regulators. They'd prob be pissed if nvidia just stayed in US/Taiwan/China. So if they can make this MTP black magic work with mass production, feels almost for sure nvidia/nokia volume ramp on some tiny $1.4B silicon photonics foundry or at least throw them a bone with smaller contracts. In terms of timelines, maybe just a months early since it volume ramps H2 2027/H1 2028 (which happens to be in line with CPO scale up timelines)... Or just unknown because they named their project something stupid like photonixfab? Like XFAB Photonics would have been better? so institutions/screeners can connect the dots when looking at CPO silicon photonic foundry players? Automotive should also coming out of a slump medium term, sped up by self-driving (TSM Chairmain comments yesterday said ai automotive was TSM's growth vector alongside robotics). So their core business also should pick up speed too medium term. Obviously markets/europeans want a "Nvidia signs $2B+ contract, XFab volume ramping 2027!" But by then it will be a $9B+ company and you miss out on all the upside. And especially since everyone analyst/institution is blind to volume expectations for these.... Normally don't invest in companies in evaluation stages, but this just seems very de-risked by EU sovereignty + Gov backing, and you have Nvidia + Nokia there for volumes if they can make the IP work. I think markets are probably missing something here... there's almost 0 value being assigned to being CPO exposure in Europe as their long term upside.

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The difference between NASDAQ and EU listing: $POET: $2.4B MC -> Packages Sivers lasers -> One $50m pre-production contract for warrants > $XFAB: $1.7B MC ->SiC/GaN/MEMS/Silicon Photonics Foundry backed with EU CHIPS ACT, US CHIPS ACT PMT -> Below replacement P/B value -> $NVDA, $NOK direct eval of their pre-commercial SiPH foundry, volume ramping 2027/2028 -> $XFAB leading high-volume scaling of Europe's photonic supply chains as the foundry, with IMEC/CEA-Leti, Ligentec, Smart photonics, PHIX Photonics, Luceda Photonics, and Europe's photonic players under it. -> Leading customers like $NVTS, $POWI, Lite-On -> US from Dpt. of Commerce: "the only high-volume SiC foundry in the U.S."

Tbh $XFAB lowkey reminds me of early $TSEM. Just sub <$2B MC. You basically never find a company with $NVDA and $NOK actively validating your pre-commercial silicon photonics foundry… (photonixFAB) While getting CHIPS act/Gov grants to subsidize capex. While leading the Europe’s effort to build a photonics supply chain. Feels like that alone would justify valuations… but you get the power semi SiC/GaN operations for free too and all its assets. CHIPS act 2 is coming out tomorrow, and $XFAB is listed in the photonics blueprints. Did I miss something? Or did markets miss something?

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Just some mobile shower thoughts around $XFAB and train of thought: 1. 800vdc $NVDA push look for GaN/SiC players / power semis. 2. $NVTS and other fabless/fab-lite beneficiaries of $NVDA push probably use foundry models 3. care more about Western supply chains over Asia, want to build up Western capabilities + Western premiums. 4 China has a lot of capacity, maybe risk into 2028, but again it’s building up Western supply chains 5. XFAB only high volume SiC foundry in America (others like $ON or Infineon are vertically integrated) 6. advanced 6in SiC, 8in GaN on Si, building out 8in GaN 7. Maybe likely they’re developing 8in SiC from CHIPS backing, just not public material 8. check SiC revenue -> 152% Y/Y growth okay. Probably something markets missed, since blended looks worse from automotive slump, that should come out recovery 9. $NVTS and others turns out to use $XFAB. $POWI cites $XFAB in filings, among others. 10. both are $NVDA power semi explicit partners, great exposure indicator to 800vdc power semi players. 11. US Dpt. of commerce cites $XFAB as only high volume SiC foundry in the US, $50M PMT 12. validation from US Gov about critical component in supply chains is amazing 13. EU CHIPS Act gives $XFAB $128M EU, for foundry (MEMS, AI, etc), okay turns out they’re critical MEMS player 14. So that’s validation from EU gov about critical component in supply chains, dual continent subsidies 15. So now we know $XFAB is a critical MEMS foundry so you get SiC capabilities, GaN development, and MEMS upside 16. they also got $47.6M EU funding for leading Silicon Photonics supply chain in EU. So that’s EU funding on multiple angles. 17. Turns out, I know all the players there from smartphotonics from $GFS deck. 18. $NVDA and $NOK are qualifying them for silicon photonics HVM. I think this is just a government backing angle for success in EU photonics so likely to succeed… kinda like how Us gov encourages everyone to use $INTC. 19. Okay chips act 2 is coming out next week… so they’ll probably get funding there or more revenue commitments 20. 1.28 p/b, now that’s probably just book cost? Likely coming out of $SOI type legacy drag cycle. 21. Did some modeling around actually replacement values, true replacement p/b cost likely ~.5/.7. 22. Getting business for free, while having upside from SiC near term into Silicon Photonics / GaN as main growth past H2 2027. Thoughts: derisked by p/b values + replacement value. maybe like 20% downside from macro. However, critical dual continent importance. So downside risk seems low, but upside is compelling. Lot of capex likely backstopped by upcoming chips act catalyst + national security concerns. Maybe 2.5-4x rerating seems possible/likely. Not a 10-20x, but recovery from depressed valuations from silicon photonics upside with SiC / GaN bridge. TLDR: likely trading lower than replacement value, dual continent subsidies likely subsidize capex. Gov grants shows importance to Western supply chains, photonics longer term upside, SiC/GaN demand likely near term upside and bridge. Don’t control any recent volatility, should shake out anyone not really confident in the thesis though. CHIPS act 2 from EU is coming up, $XFAB was listed in earlier blueprints for optical ecosystem, so should get a boost after that comes out as near term event catalysts. So now is the risk reward seems compelling, we’ll see if this is right or not

$SIVE is the most compelling CPO/photonics exposure to me. Addressing the disinformation: I haven’t sold and don’t plan to sell a single share. I do think this ends up the next $80B+ $LITE one day from ~$2.1B. And I personally have plans to acquire more ownership + support their M&A prospects. I believe earnings transcripts will be strongly positive. As in the part few months we’ve discovered: > AlChip/Amazon private placements, which is positive for Ayar -> $SIVE implying Trainium 4 design in > Wiwynn + Ayar CPO scale up > $JBL 1.6T optical transceiver ramp with Sivers incoming faster than markets expected (with relatively dramatic moat + demand as much as they can produce) > O-Net scaling up ELS efforts with $SIVE > $YSS acquisition of $SIVE allspace lead partner, designing Sivers into Space defense primes > New CHIPS ACT funding for $SIVE > $POET H2 volume ramp and their new $50m -> $500m order (with $SIVE as light source) > information discovery around $AAPL using $SIVE lasers for next gen consumer devices > information discovery around links to Lightelligence (went public $10B+ MC) + Lightmatter as likely customers. > Celestial volume ramp with $MRVL indicators. > new customers working on TFLN with $SIVE like Lightium > $AMD going with $GFS for CPO, and GFS listing sivers as one of two laser suppliers > Ayar removing $MTSI / $LITE from their website and signaling $SIVE as primary source/sole source > Ayar raising $500m for volume ramp (intel, Mediatek, Nvidia, amd etc) > pluggable TAM expansion signaled from 2025 annual report > Nasdaq listing expected soon > MSCI small cap index / Nasdaq omx inclusion, making Blackrock, Vanguard and others passive buyers > M&A signaled from 2025 annual report + 2 new board members that have experience in that area > $NOK as likely customer from 2025 annual report. > $LITE getting cw bottlenecked from EML contracts, $SIVE signaling capacity agreements in place with Win, making the a likely bottleneck owner + chokepoint in CPO sector. All of this market research was done before earnings. Any results is just confirmation of supply chain mapping done. I don’t think anyone cares about former quarter revenue since $SIVE is an exceptionally compelling 2027 long, especially H2 onward. Only thing I’m looking at are: > TAM expansion of the overall photonics supercycle (eg. optical engine, ELS, pluggables) either from M&A or developments > volume ramp expectations from existing companies > Nasdaq listing timelines for more liquidity to support their M&A efforts > any new customers signaled for CPO/Pluggables

I genuinely think $XFAB is very compelling at $1.5B MC, despite recent volatility. Per NIST filings stated they were the only high volume SiC foundry in America. Making them extremely “critical infrastructure”… Verbatim from the US Gov. And they’re the first comprehensive pure play foundry for SiC/GaN. So it’s very compelling exposure as $NVDA pushes 800 VDC and as other power semi players from $NVTS and $WOLF are all re-rating hard. For long term photonics exposure: They were literally listed in CHIPS Act 2 blueprints… with $NOK / $NVDA evaluations right now. And production ramp up in 2027/volume production H1 2028 expected. So you have a company at $1.5B MC: Critical both on the power semis front to the US government. And critical to both photonics front to the EU government. Coming off of a legacy drag cycle with auto and others (similar to Soitec). I think I’d follow EU/US government signals for what’s critical infrastructure given expected dual continent subsidies… Over random media analysts trying to cause unnecessary volatility saying it’s a memestock with no fundamentals.

Appreciate the more neutral coverage by Reuters and Bloomberg on $XFAB today. Although it would be nicer to focus more on the structural thesis presented… Around 800 vdc power semis $NVDA exposure + with ongoing $NVDA / $NOK evaluations for photonics. And around CHIPS Act semiconductor sovereignty as the near term catalyst. Rather than around volatility from novel information synthesis. I spend a lot of time looking at regulatory filings to find compelling things market missed you know…

Bro media… how is $XFAB a meme stock? Can you not repeat the same mistake with $RPI this time? They’re literally getting CHIPS ACT funding from the EU because of how critical they are. And have $NVDA / $NOK evaluating their SiPH side of things, while they traded at a low ~1.28 P/B. This just reminded me of $SOI low p/b but high growth verticals out of legacy segment drag. $XFAB was literally mentioned for CHIPS ACT 2 next week in the blueprints… Which focuses around photonics. The main revenue ramp was around power semis with $NVDA pushing 800 vdc. So $NVTS, $POWI, $WOLF and everyone have been taking off recently. Markets just missed $XFAB, because they’re a lesser known foundry in power semis…But US Dpt. Of commerce pointed them out as the only high volume SiC foundry in the US 2Y ago. I just happened to point out the connections. Just because you don’t understand something, don’t just go call it a “meme stock” with price detached from fundamentals.

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RT @dannycheng2022: Here's how you can use volatility holes as reliable buy and accumulation zones when you are in the right stocks. Every time the upper boundary is surpassed, it most likely triggers another rally. Simple yet effective. I share and update the upper and lower boundaries of each volatility hole with my community every day and every week because it is a moving indicator — it changes every day. The following four charts speak for themselves in terms of accuracy! 1. $EWY 2. $CIEN 3. $PL 4. $NOK

$NOK (May 22, 2026-daily chart update) $NOK is still stuck in that last volatility hole before any significant move. https://t.co/GzuwS257tW

$NOK (May 20, 2026-daily chart update) Will $NOK survive the new volatility hole that appeared today and spark a subsequent surge? https://t.co/XmPnsDgpqT

Here's how you can use volatility holes as reliable buy and accumulation zones when you are in the right stocks. Every time the upper boundary is surpassed, it most likely triggers another rally. Simple yet effective. I share and update the upper and lower boundaries of each volatility hole with my community every day and every week because it is a moving indicator — it changes every day. The following four charts speak for themselves in terms of accuracy! 1. $EWY 2. $CIEN 3. $PL 4. $NOK

$NOK (May 15, 2026-daily chart update) On my daily chart, I’ve highlighted all the reliable buy signals in simple form. Remember: a red candle alone isn’t the complete signal — it needs to pair up with the volatility holes and momentum bars for the highest accuracy. Huge congratulations to my subscribers who have been long $NOK since the low single digits. Incredible hold!

$SIVE 2025 annual report analysis. TLDR: Extremely Bullish. Sivers main growth vector is CPO, but they've TAM expansioned to pluggable transcivers + multiple new qualifications/development. 1. "We are currently seeing great interest... testing our DFB lasers across multiple manufacturers in pluggable transceivers" For pluggable angle, we've seen this with $JBL 1.6T LRO already, but annual report hinted they're developing/qualifying with more hyperscaler suppliers. "Our serviceable markets have now been expanded to include pluggable optical interconnects as well as scale-up and scale-out architectures for co-packaged" (TAM expansion) 2. "Discussions with hyperscalers and pluggable transceiver suppliers indicate a shortage of CW lasers in the coming years" $LITE already signaled CW laser bottlenecks, and they had to buy externally from competitors. So we kinda guessed CW Laser was a bottleneck. And this confirmed it, so was wondering about Win semi. "The partnership announced with high-volume supplier Win Semiconductor in March 2025 now gives us a strong position to meet growing demand" $SIVE likely has capacity locked in with Win from this nuance, which is exactly what I wanted to know. This positions Sivers in the CW laser as both a bottleneck and CPO laser architectural leader. VOLUME PRODUCTION H2 INDICATIONS (BULLISH): 3. "The collaboration positions both companies to address the rapidly growing market for optical AI connectivity, with prototypes to be demonstrated to customers during the first half of 2026 and with the goal of scaling up production by the end of 2026" H1 is more preproduction, H2 production signaled starting with names like $POET. 4. "We are pleased that our largest LIDAR customer will increase production starting in the fourth quarter of 2026" $AEVA start of volume production Q4 with $SIVE = bullish for both. Revenue floor from LIDAR as their CPO scales. 5. Sivers announced a partnership with LIGHTIUM AG to integrate their CW lasers directly onto TFLN wafers. 3.2T+ cycle. (future proofing) FYI no decent investor cares about last year's 2025 financials from development contracts aside from Swedish Media/Locals. Especially when you're forward looking for the 2027-2028 CPO supercycle. But the hint from you can take away from financials + geography that is $NOK is now the high confidence customer of $SIVE. TLDR: -> Win Semi implied capacity lock in during CW laser bottleneck -> Hints of new group of hyperscaler suppliers testing/qualification for pluggable transcivers, which is massive TAM expansion. -> New customers for CW lasers -> Volume production scaling starting H2 for both photonics and lidar.

$NOK (May 8, 2026-daily chart update) Congratulations to some of my smart members in the community who loaded up on $NOK in the very low single digit! Let’s see if $NOK can survive this recent volatility hole! https://t.co/XOnE993Xit

$NOK (May 2, 2026-daily chart update) Trend is always your best friend. Every time $NOK closes above the upper boundary of the volatility hole, it has triggered a subsequent surge! https://t.co/ztWyuKT54s

In August 2024, our analyst @rennyzucker wrote this section of our optics piece “Can You Hear Me Now?” on RAN with Nokia at $4. In early 2025, Nokia completed its acquisition of Infinera which strengthened its data center optical footprint and is now resulting in favored vendor status for Nvidia’s AI-RAN push. One must be pretty locked in to talk about this while telecom is in a brutal drawdown, hated by nearly everyone and Nokia has traded sideways for more than a decade. We still think $NOK has more than 100% upside from here.

$NOK up 53% in a single month, tripled off the $4 lows. Are people are starting to realize this isn't the boring phone maker anymore? > Optical Networks running on the 800G ZR coherent pluggables from the Infinera deal, sitting directly in the hyperscaler capex cycle. > AI-RAN turning every cell tower into a distributed inference node, what Jensen calls "Robotic AI Radio." > Nvidia took 2.9% at $6.01 in October. Stock has doubled from there. Still only $67B market cap on a business guiding ~50% operating profit growth into 2028. $NOK $NVDA $CIEN

$NOK (April 11, 2026-weekly chart) Will $NOK survive the recent volatility hole? https://t.co/BxjKLgLpsl