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Thanks for the article. CPO supply chain should look a lot like SiPh's. Could SOI (silicon-on-insulator) and even InP (indium phosphide epi) providers become hidden gems in the CPO race? If not mistaken, most SiPh uses SOI (Soitec), and Intel uses large areas of InP epi wafer (IQE, Landmark Opto) for their pluggable SiPh to replace various discrete components. Compound on Si from Aeluma may be quite interesting as well? Testing providers like Chroma and Aehr will likely do really well too.

The biggest losers are probably the discrete optical component companies?

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