800G+ silicon photonics / co-packaged optics transceiver — transceiver / CPO module

800G+ silicon photonics / co-packaged optics transceiver — transceiver / CPO module

Companies committing: Eoptolink Technology, Innolight Technology, Coherent Corp., Marvell Technology, Inc., Celestica.

Opportunity: Credo 80%-customer concentration + Celestica CPO hire + Ayar UCIe chiplet partnerships signal a fork: pluggable optics shipping at scale today vs CPO becoming co-packaged on switch/XPU in next 12-24 months. Both lanes funded.

Multi-axis confirmation: Chinese transceiver makers (eOptolink/Innolight) hiring on the volume side, Credo/Semtech earnings already inflected, Ayar+Celestica/CPO on the next-gen side. The optics layer is the second-clearest 'hot product' after Ethernet switches.