AI 扩张已使光纤、收发器、雷射与基板全面紧缺。Nvidia 与 Corning 已签下长约，计划把美国光纤产能扩大 10 倍；而 indium phosphide 基板供应也受限，且 China 对 indium 的出口管制进一步恶化瓶颈。中国在可插拔 optical transceivers 市场仍举足轻重，Zhongji Innolight 与 Eoptolink 自 2022 年 AI 热潮以来，获利分别暴增逾 800% 与 900%。
在投资与晶片竞赛面向，私募基金正撤出中国资料中心领域：Princeton Digital Group 拟出售其中国资产，估值可高达 10 亿美元（$1bn），反映外资对关键数位基础设施的政治与监管风险愈来愈高。另一方面，Huawei 在被切断全球半导体供应 6 年后，公布从 Kirin 手机处理器出发的晶片回归路线图；但 China 仍缺乏 EUV lithography 等先进设备，量产品质与规模仍是难题。
AI boom is squeezing Taiwan’s optical-tech and chip supply chains, with Nvidia CEO Jensen Huang saying annual spending on Taiwan’s AI ecosystem could reach as much as $150bn. Executives from Intel, Qualcomm, Arm and Marvell are heading to Taiwan to secure chips, packaging, substrates, PCB, cooling and power equipment, while the industry shifts from CoWoS buzz to COUPE and CPO.
The optical side is already feeling the strain: demand for fibre, transceivers, lasers and substrates has surged, and Nvidia has signed a deal with Corning to expand US fibre capacity 10-fold. Indium phosphide substrates are tight, China’s indium export controls add pressure, and Chinese transceiver makers Zhongji Innolight and Eoptolink have seen profits rise by more than 800% and 900% since 2022.
Capital and competition are also moving. Princeton Digital Group is planning a China asset sale that could fetch up to $1bn, marking the retreat of global buyout firms from China’s data-center sector. Separately, Huawei outlined a chip comeback led by He Tingbo, but without EUV tools and with high local demand, its production quality and scale remain major constraints.