· 个股论点
涉及标的： $XFAB
相关概念： 光子学 Photonics
我觉得 $XFAB 没什么新消息。不过他们的公司确实该在营销材料上做得更好。毕竟没人认为他们算是光学 AI 数据中心或功率半导体相关的敞口。然而，我以为既然他们正通过 PhotonixFab 引领欧洲硅光子学（Silicon Photonics）价值链的努力，加上显然大家都在讨论 Fable 出口管制后的主权 AI 供应链，人们可能会认为他们是主权 AI 推动下的主要受益者之一，与 IMEC、Ligentec 等并列？总之，市场可以持不同意见，或者只是没把这些联系起来。不管怎样，我只是好奇这会如何演变。（披露：持有仓位）
Don’t think there’s any new news from $XFAB. Their company needs to do a better job with marketing materials though. Since nobody thinks they’re optical ai dc or power semi adjacent exposure apparently. However, I would have thought that since they’re leading Europe’s silicon photonics value chain efforts with PhotonixFab. And apparently everyone + EU are discussing sovereign AI supply chains after Fable’s export controls. One might think they’re a major beneficiary alongside IMEC, ligentec and others in the sovereign AI push? Anyway, markets can always disagree or maybe they didn’t link things together. Regardless, I’m just curious how this plays out. (Disclosure, own positions)