· 个股论点
涉及标的： $AAOI$AMZN$GOOGL$LITE$META$MSFT$NVDA
“太晚了”。 $LITE 是一家市值 260 亿美元的公司在未来 $GOOGL TPU 部署以及 $NVDA / $AMZN 等其他 GPU/ASIC 的核心位置。 它占据 Google TPU v7 8-12% 的物料清单(BOM)份额。这就像说当 $NVDA 市值达到 1 万亿美元时它“太晚了”一样。 但如果你想要另一个参与者，那就是 $AAOI。 $MSFT 正在 Maia ASIC 中使用它们，并且很可能正在与 $AAOI 创建一种新架构。 它们还与 $AMZN 拥有 40 亿美元的认股权证+购买协议。 所以这更像是一个做多 $MSFT Maia + $AMZN Trainium ASIC 的玩法，但市场尚未真正关注这两家超大规模云服务商的 ASIC。 如果有任何关于这两者的利好消息，$AAOI 将极快地重估。 尽管据报道 $META 将购买大量产品，但每个人都跳上了 $GOOGL TPU 的顺风车。
"Late". $LITE is a $26B MC in the center of every future $GOOGL TPU deployment, $NVDA/ $AMZN / other GPU/ASICs. 8-12% BOM share of every Google TPU v7. This is like saying $NVDA was "late" when price it was a $1T MC. But if you want want another player, $AAOI. $MSFT is using them for Maia ASICs and are likely creating a new architecture with $AAOI. They also have a $4B warrant + purchase agreement with $AMZN. So it's more of a long $MSFT Maia + $AMZN Trainium ASIC play but markets haven't really cared about those two hyperscaler ASICs yet. If there's any positive news about those two $AAOI will revalue extremely fast. Everyone jumped on the $GOOGL TPU bandwagon after $META reportedly was going to buy a bunch though.