· 供应链分析
涉及标的： $AEVA$INTC$NVDA$SIVE$VPG
有趣的事实：同一家公司经常出现在不同的供应链中。一个可能的例子是：$SIVE 作为上游激光供应商，通过以下路径供应给 Boston Dynamics：Sivers -> $AEVA FMCW（CW DFB 激光器）-> LG Innotek -> Boston Dynamics。我个人最初其实是因为4D AI而看好Aeva的。偶然发现Sivers是他们4D FMCW激光雷达的高置信度激光供应商。所以你实际上可以在光子学领域获得机器人曝光，而用于超大规模数据中心AI的同款CW激光器也在使用。虽然近期收入增长可能是$SIVE通过Aeva为$NVDA自动驾驶汽车相关架构供应激光器批量增长。人形机器人可能要到2028年？你总能得到更多间接曝光，比如MU的内存或$INTC的边缘CPU，但当然也有更直接的曝光方式。我觉得之前已经覆盖过很多名字了，比如$VPG或Harmonic Drive。但可笑的是，CPO玩家如$SIVE其实是前沿物理AI开发的核心部分。
Fun fact: Lot of the same companies are often used across different supply chains. One likely example is: $SIVE as the upstream laser supplier to Boston Dynamics via: Sivers -> $AEVA FMCW (CW DFB lasers) -> LG Innotek -> Boston Dynamics. I actually personally liked Aeva for 4D AI first. Just so happened to find out Sivers was their high confidence laser supplier for 4D FMCW lidar. So you actually get robotics exposure with photonics while the same CW lasers used for hyperscaler AI DCs. Near term revenue ramp though it's probably $SIVE supplying laser volume ramp for $NVDA self-driving car related architectures though Aeva. Humanoids are probably later in 2028? You can always get more indirect exposure like MU with memory or $INTC with edge CPUs, but of course there's more direct exposure out there. Think I've already covered a lot of names in the past like $VPG or Harmonic Drive. But hilariously enough CPO players like $SIVE are a core part of frontier physical AI development.