· 供应链分析
相关概念： Coreweave 模式新云算力 Neoclouds光子学 Photonics
今天AI主题的财报简直疯狂，涉及$CRWV、$SMCI和$LITE。 Coreweave：荒谬的~1040亿美元+积压订单，这还不包括Q3初新增的250亿美元+客户协议。 Neoclouds（如Nebius、Iren等）的计算需求传导效应巨大。 Supermicro：荒谬的650-720亿美元营收指引，新增600亿美元+订单... AI数据中心建设的传导效应极其巨大。 Lumentum：营收从8.08亿 -> 10.1亿 -> 12.5亿美元攀升，运营利润率逐季增长。 光子学玩家一直在疯狂印钞。 简而言之：AI建设的每一层都在疯狂爆发，且体现在财报中。
Insane earnings today for the AI theme with $CRWV, $SMCI, and $LITE. Coreweave: Absurd ~$104B+ backlog, which doesn't include $25B+ of new customer agreements added in early Q3. Compute demand read through for Neoclouds is enormous (For Nebius, Iren and others) Supermicro: Absurd $65-72B in revenue guidance, adding $60B+ in new orders... AI DC buildout read through is just enormous. Lumentum: $808M -> $1.01B -> $1.25B revenue ramp, with operating margins growing quarter after quarter. Photonics players just keeps printing. TLDR: Every layer of the AI buildout goes brrrrr, and it's showing up in earnings.