technologyScore 70/100Research
Scaleup optics ramping faster than expected: FY28 revenue outlook raised meaningfully; hyperscalers deploying scaleup optics as early as next year
“customers are aggressively planning scaleup optics deployments starting as early as next year... our fiscal 2028 revenue outlook for scaleup optics has increased meaningfully compared to prior expectations, positioning Marvell to be one of the largest enabler of NPO in AI infrastructure.”
Why it matters
Confirms the copper-to-optics transition in scaleup (GPU cluster) networking is accelerating, with NPO/CPO adoption pulled forward — a major new TAM for optics, silicon photonics, TIAs and drivers.
Investment implication
Positive for MRVL, Celestial AI (private), and broader optical supply chain (Lumentum, Coherent, Fabrinet, TSMC silicon photonics). Bearish long-term for copper interconnect incumbents (e.g., Amphenol/Samtec copper cables) in scaleup.