2026-03-24 · 供应链分析

强调 SIVE 通过 CHIPS Act 和国安项目对美国很重要，并给出更高估值判断。

涉及标的： $SIVE $ERIC $RTX $BA $MSFT $META $AMZN $ORCL $MRVL

中文翻译

如果你到现在还不知道，$SIVE 通过 CHIPS 法案对美国国家安全很重要。而且尤其是，它还是超大规模云 AI 供应链的光源。到目前为止，他们已经拿了大约 1160 万美元的两笔 CHIPS 法案资助： 1. 和 $ERIC 以及 Raytheon $RTX 一起做 FR3 beamformer ICs 2. 和 $BA（LSE）BAE Systems 一起做 EW 技术 CEO 还暗示 2026 年会有更多来自 CHIPS 的资金。小盘股几乎从来拿不到美国政府这种支持。你手里有一家市值 3.3 亿美元的公司：它对美国半导体业务的国家安全至关重要，也对超大规模云供应链（$MSFT、$META、$AMZN、$ORCL 等）里的光子学至关重要，通过 $MRVL Celestial、Ayar、Jabil、ONet 等链条。关于扩产和 capex 的问题，现在已经由 Win Semi 合作基本回答了。至于“等待 CPO”的机会成本，现在也被 OFC 上 Jabil 1.6T 可插拔模块放量这件事回答了。 $SIVE 是光子学里最被低估的宝石之一，我个人认为它今天就应该值 20 亿美元以上。

英文原文

If you didn't know by now $SIVE is important to US national security via CHIPS act. But especially, as the light source for hyperscaler AI supply chains. They got two CHIPS acts grants ~$11.6M so far: 1. FR3 beamformer ICs with $ERIC and Raytheon $RTX. 2. EW Tech with $BA (LSE) BAE Systems With more coming funding from CHIPS in 2026 hinted by the CEO. Small caps almost never get this sort of support from the US government. You have a company sitting at $330M: That's critical to US National Security for their Semi arm. and Critical to Hyperscaler supply chains ( $MSFT, $META, $AMZN, $ORCL, etc) for Photonics through $MRVL Celestial, Ayar, Jabil, ONet, and others... The main question regarding scale vs. capex is now answered by Win Semi partnership. And the question regarding "CPO waiting" opportunity cost is now answered by the Jabil 1.6T pluggable ramp from OFC. $SIVE of the most unknown gems in the photonics space and I personally think this company should be $2B+ today.

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