This page fuses the full CPO semiconductor research bundle with the broader semiconductor alpha bundle into one 120-company ranking. It preserves the two original rank signals, flags disagreement, separates source-backed relationship evidence from inferred ecosystem edges, and turns the merged research into a practical diligence interface.
Bundle timestamp: May 3, 2026Unified: July 9, 2026Screening artifact, not investment advice
Union of both 100-name alpha screens after ticker and company-name reconciliation.
Cross-validated names
78
Companies present in both rankings. These get the cleanest comparison and agreement labels.
Single-bundle signals
39
20 CPO-only and 19 broad-only names remain visible, but marked lower-confidence.
Source trail
20
Direct source-index rows, original dashboard archives, ranking CSVs, and relationship evidence.
Current Thesis Audit ยท Updated July 9, 2026
The CPO build-out is no longer a thesis risk - NVIDIA is shipping TSMC-backed 400Tb/s Spectrum-X CPO switches and COUPE-on-substrate mass production lands in 2H26 - but the alpha map shifted this week: Broadcom's $16B FQ3 AI guide (vs $17.2B expected) knocked the SOX down 5.2% and triggered a third distribution wave in optics (COHR -12%, AAOI -15%, POET -13% on June 9), while Korea memory melted up (SK hynix +15.9% to a record, Samsung +9.0%) on a DRAM shortage Goldman calls the worst in 15 years with HBM sold out into 2028. We keep the page thesis but rotate at the margin: fade crowded optics beta and post-rerating custom-silicon chase (MRVL -10.4% on the ByteDance ASIC deal), reprice VECO as an Axcelis merger-arb proxy and promote ACLS as the go-forward vehicle, lift under-owned memory-capex derivatives (Hanmi, Kokusai), and put CPO substrate (Ibiden) on watch where NVIDIA is reportedly seeking long-term supply deals. The active ranking pass cross-checks the original thesis against current market prices, market cap, YTD rerating, AI 2027 compute/security assumptions, hyperscaler capex pressure, power constraints, HBM and advanced-packaging evidence, and physical-AI adoption signals.
The CPO map is specific; the broad map is a discovery net.
The unified ranking keeps both signals visible. The CPO bundle has richer source trails, cash-flow caveats and CPO-specific exposure. The broad bundle captures photonics, specialty foundry, materials and equipment names that may be under the strict CPO map.
Bundle differences
100
Companies in CPO full bundle
Strict 50 US + 50 non-US public semiconductor-company CPO map.
100
Companies in broad semiconductor-alpha bundle
100 public companies across CPO, advanced packaging, wafer equipment, materials, memory and design enablement.
80
Overlapping companies
Names matched by normalized ticker and company name.
120
Unified ranking companies
Union of both 100-company screens after ticker/name reconciliation.
2000
CPO relationship edges
Relationship graph with cash-flow caveats and source identifiers.
4798
Broad relationship edges
Relationship graph with confidence labels and source notes.
15
CPO source-index URLs
Direct source URLs carried into the blog source appendix.
8
Disclosed cash-flow audit rows
Rows separating public dollar disclosures from inferred revenue streams.
10
External cable/interconnect watchlist rows
CPO-adjacent public/private names outside the strict semiconductor ranking.
Fusion formula
1
Normalize inside each bundle
Each bundle score is blended with its within-bundle rank percentile, so a 78 in the CPO bundle and a 78 in the broad bundle are compared by context rather than raw scale alone.
2
Weight source specificity
CPO signal receives 55% weight where both bundles cover a company because it carries relationship source IDs, cash-flow caveats, direct CPO exposure and public value-chain counts.
3
Keep discovery candidates alive
Single-bundle names are not discarded. They receive a small coverage discount and explicit confidence labels so microcap and broad-only ideas stay visible but require more validation.
4
Subtract current rerating
The June 8 refresh applies a YTD price-rerating penalty before final ranks are assigned, so very large stock moves push names toward watchlist status unless the base score is still strong.
5
Expose disagreement
Rank gaps are first-class. A large CPO-over-broad gap often means direct optical/CPO optionality; a broad-over-CPO gap often means materials, specialty foundry, equipment or packaging alpha.
Largest rank-gap diagnostics
Lumentum
90
LITE / CPO #4 / Broad #94
CPO map ranks this materially higher than the other bundle.
Credo Technology
85
CRDO / CPO #7 / Broad #92
CPO map ranks this materially higher than the other bundle.
Axcelis Technologies
82
ACLS / CPO #96 / Broad #14
Broad semiconductor screen ranks this materially higher than the other bundle.
Astera Labs
79
ALAB / CPO #10 / Broad #89
CPO map ranks this materially higher than the other bundle.
TSMC
64
TSM / 2330.TW / CPO #34 / Broad #98
CPO map ranks this materially higher than the other bundle.
LITEON Technology
63
2301.TW / CPO #70 / Broad #7
Broad semiconductor screen ranks this materially higher than the other bundle.
Visual Rank Diagnostics
The top of the unified stack is optical, substrate, test and selective equipment.
The charts below separate score leadership from coverage quality. The most useful names are not just high-ranked; they also show cross-bundle confirmation, high public-value-chain count, or a clearly explainable rank gap.
Top 18 unified scores
CPO score vs broad score for the 80 overlaps
Alpha lens concentration
Coverage quality
Both bundles
78 names / avg 66.4
Top name: #1 Coherent (COHR)
CPO bundle only
20 names / avg 46.4
Top name: #19 Rambus (RMBS)
Broad bundle only
19 names / avg 62.5
Top name: #9 nLIGHT (LASR)
Interpretation: broad-only names skew high because the broad bundle intentionally surfaces under-owned discovery ideas. The page keeps them near the top when their normalized score is strong, but marks them as single-bundle signals so the next user action is validation, not blind portfolio inclusion.
Mindmap and Action Model
Use the ranking as a workflow, not a static leaderboard.
The map turns sector buckets into user actions: source validation for single-bundle names, customer checks for optical/CPO names, and cycle sensitivity checks for equipment, test and packaging.
Active lens
Test, probe and yield control
2
Camtek
CAMT
99.9
12
Nova
NVMI
85.9
13
FormFactor
FORM
85.7
17
Onto Innovation
ONTO
83.6
20
Lasertec
6920.T
79.7
23
Cohu
COHU
78.2
31
Aehr Test Systems
AEHR
74.9
36
Technoprobe
TPRO.MI
72.3
Interactive Ranking
Search, filter and inspect all 120 unified names.
The table is built for research triage: find a ticker, filter by alpha lens, isolate single-bundle ideas, sort by rank gap, and read the next diligence action without leaving the page.
117 matching rows
Rank
Name
Unified
Cases
CPO
Broad
Lens
Coverage
Price
YTD
Cap
1
Coherent
COHR / United States
100.0
#6 / 76.0
#32 / 67.0
Optics / CPO leverage
Both bundles
USD 317
+63.1%
$62.0B
2
Camtek
CAMT / Israel
99.9
#9 / 73.0
#21 / 70.0
Test, probe and yield contr...
Both bundles
USD 140
+21.3%
$6.5B
3
Semtech
SMTC / United States
99.9
#3 / 78.0
#18 / 71.6
Optics / CPO leverage
Both bundles
USD 129
+71.2%
$12.0B
4
Veeco Instruments
VECO / United States
99.8
#13 / 71.0
#6 / 76.3
Wafer equipment and process...
Both bundles
USD 54.47
+78.4%
$3.3B
5
Photronics
PLAB / United States
99.4
#15 / 70.0
#12 / 73.9
Substrate and materials con...
Both bundles
USD 28.14
-15.8%
$1.8B
6
MACOM Technology Solutions
MTSI / United States
99.0
#1 / 84.0
#30 / 67.9
Optics / CPO leverage
Both bundles
USD 305
+74.5%
$23.3B
7
Alchip Technologies
3661.TW / Taiwan
97.6
#17 / 69.0
#20 / 70.2
Foundry, ASIC and design en...
Both bundles
TWD 4,210
+15.8%
$10.0B
8
Amkor Technology
AMKR / United States
97.6
#26 / 65.0
#13 / 73.3
Advanced packaging bottlene...
Both bundles
USD 66.91
+55.9%
$16.6B
9
nLIGHT
LASR / United States
95.0
- / n/a
#8 / 75.3
Optics / CPO leverage
Broad bundle only
USD 58.68
+52.9%
$3.6B
10
POET Technologies
POET / Canada
93.8
#23 / 66.0
#33 / 66.1
Optics / CPO leverage
Both bundles
USD 8.51
+18.9%
$1.6B
11
BE Semiconductor Industries
BESI.AS / Netherlands
88.6
#12 / 72.0
#39 / 64.1
Advanced packaging bottlene...
Both bundles
EUR 251
+68.2%
$24.7B
12
Nova
NVMI / Israel
85.9
#8 / 74.0
#48 / 62.9
Test, probe and yield contr...
Both bundles
USD 452
+30.1%
$14.4B
13
FormFactor
FORM / United States
85.7
#19 / 68.0
#27 / 68.2
Test, probe and yield contr...
Both bundles
USD 112
+88.5%
$8.7B
14
Aixtron
AIXA.DE / Germany
85.4
#5 / 76.0
#31 / 67.8
Wafer equipment and process...
Both bundles
EUR 44.62
+127.8%
$7.8B
15
Kokusai Electric
6525.T / Japan
84.4
- / n/a
#17 / 71.7
Substrate and materials con...
Broad bundle only
JPY 10,810
+81.7%
$17.4B
16
Entegris
ENTG / United States
84.1
#21 / 67.0
#34 / 65.6
Substrate and materials con...
Both bundles
USD 139
+54.9%
$20.7B
17
Onto Innovation
ONTO / United States
83.6
#18 / 69.0
#35 / 65.6
Test, probe and yield contr...
Both bundles
USD 291
+75.7%
$14.5B
18
GlobalFoundries
GFS / United States
83.6
#29 / 64.0
#29 / 68.1
Foundry, ASIC and design en...
Both bundles
USD 67.97
+84.3%
$37.3B
19
Rambus
RMBS / United States
80.7
#33 / 61.0
- / n/a
Memory and AI-server pull
CPO bundle only
USD 110
+10.4%
$11.9B
20
Lasertec
6920.T / Japan
79.7
#28 / 64.0
#40 / 64.0
Test, probe and yield contr...
Both bundles
JPY 43,020
+35.7%
$26.5B
21
Lumentum
LITE / United States
78.4
#4 / 77.0
#94 / 44.7
Optics / CPO leverage
Both bundles
USD 707
+83.1%
$55.0B
22
LITEON Technology
2301.TW / Taiwan
78.2
#70 / 45.0
#7 / 75.9
Optics / CPO leverage
Both bundles
TWD 214
+27.8%
$15.0B
23
Cohu
COHU / United States
78.2
- / n/a
#10 / 74.6
Test, probe and yield contr...
Broad bundle only
USD 52.12
+111.8%
$2.4B
24
Vanguard International Semiconductor
5347.TWO / Taiwan
77.8
- / n/a
#24 / 69.1
Foundry, ASIC and design en...
Broad bundle only
TWD 173
+87.4%
$10.2B
25
ASM International
ASM.AS / Netherlands
77.4
#22 / 67.0
#53 / 61.4
Substrate and materials con...
Both bundles
EUR 924
+66.8%
$51.0B
26
Credo Technology
CRDO / United States
76.6
#7 / 75.0
#92 / 46.1
Optics / CPO leverage
Both bundles
USD 259
+80.6%
$48.2B
27
PDF Solutions
PDFS / United States
76.3
- / n/a
#26 / 68.6
Foundry, ASIC and design en...
Broad bundle only
USD 52.42
+77.4%
$2.2B
28
IPG Photonics
IPGP / United States
76.0
#31 / 62.0
- / n/a
Optics / CPO leverage
CPO bundle only
USD 102
+36.7%
$4.3B
29
Global Unichip
3443.TW / Taiwan
75.6
#20 / 68.0
#41 / 63.9
Foundry, ASIC and design en...
Both bundles
TWD 4,340
+98.6%
$18.7B
30
Hanmi Semiconductor
042700.KS / South Korea
75.4
- / n/a
#55 / 61.2
Advanced packaging bottlene...
Broad bundle only
KRW 215,500
+49.1%
$14.0B
31
Aehr Test Systems
AEHR / United States
74.9
#24 / 66.0
#25 / 68.6
Test, probe and yield contr...
Both bundles
USD 67.89
+206.4%
$2.1B
32
Tower Semiconductor
TSEM / Israel
74.2
#36 / 60.0
#62 / 57.7
Foundry, ASIC and design en...
Both bundles
USD 217
+78.0%
$26.1B
33
ACM Research
ACMR / United States
73.6
#42 / 57.0
#15 / 72.0
Substrate and materials con...
Both bundles
USD 98.07
+118.5%
$6.8B
34
GlobalWafers
6488.TW / Taiwan
73.6
#16 / 70.0
#19 / 71.3
Substrate and materials con...
Both bundles
TWD 1,350
+235.0%
$18.3B
35
Synopsys
SNPS / United States
72.3
#46 / 55.0
#71 / 54.8
Foundry, ASIC and design en...
Both bundles
USD 435
-9.6%
$83.2B
36
Technoprobe
TPRO.MI / Italy
72.3
#14 / 71.0
#43 / 63.4
Test, probe and yield contr...
Both bundles
EUR 31.78
+145.8%
$24.5B
37
Navitas Semiconductor
NVTS / United States
71.7
#40 / 58.0
- / n/a
Semiconductor infrastructure
CPO bundle only
USD 13.36
+59.4%
$3.3B
38
eMemory Technology
3529.TWO / Taiwan
71.6
- / n/a
#45 / 63.3
Memory and AI-server pull
Broad bundle only
TWD 2,605
+51.5%
$6.4B
39
SMIC
0981.HK / China
71.4
#53 / 52.0
#58 / 59.2
Foundry, ASIC and design en...
Both bundles
HKD 83.85
+11.7%
$110.9B
40
ASMPT
0522.HK / Hong Kong/Singapore
71.4
- / n/a
#16 / 71.8
Advanced packaging bottlene...
Broad bundle only
HKD 198
+143.7%
$10.4B
41
Soitec
SOI.PA / France
71.2
#2 / 78.0
#1 / 91.6
Substrate and materials con...
Both bundles
EUR 105
+321.8%
$4.8B
42
Lattice Semiconductor
LSCC / United States
69.8
#39 / 59.0
#83 / 49.4
Semiconductor infrastructure
Both bundles
USD 132
+68.4%
$17.9B
43
SCREEN Holdings
7735.T / Japan
69.1
#38 / 59.0
#28 / 68.2
Substrate and materials con...
Both bundles
JPY 17,750
+121.9%
$22.2B
44
NAURA Technology
002371.SZ / China
68.7
#27 / 65.0
#66 / 56.9
Substrate and materials con...
Both bundles
CNY 878
+85.1%
$86.1B
45
Sanan Optoelectronics
600703.SS / China
68.5
- / n/a
#54 / 61.4
Substrate and materials con...
Broad bundle only
CNY 17.8
+23.8%
$12.7B
46
Enablence Technologies
ENA.V / Canada
68.5
- / n/a
#2 / 89.5
Optics / CPO leverage
Broad bundle only
CAD 6.71
+270.7%
$130M
47
Astera Labs
ALAB / United States
67.9
#10 / 73.0
#89 / 46.4
Optics / CPO leverage
Both bundles
USD 393
+119.0%
$67.4B
48
Advantest
6857.T / Japan
67.6
#32 / 62.0
#67 / 56.5
Test, probe and yield contr...
Both bundles
JPY 29,160
+37.7%
$131.9B
49
Cadence Design Systems
CDNS / United States
66.7
#45 / 56.0
- / n/a
Foundry, ASIC and design en...
CPO bundle only
USD 374
+20.5%
$103.2B
50
SiTime
SITM / United States
66.5
#35 / 60.0
#85 / 48.2
Semiconductor infrastructure
Both bundles
USD 612
+65.5%
$18.3B
51
Infineon Technologies
IFX.DE / Germany
66.5
#54 / 52.0
#73 / 54.5
Semiconductor infrastructure
Both bundles
EUR 72.32
+89.0%
$118.3B
52
Marvell Technology
MRVL / United States
66.5
#30 / 63.0
#37 / 64.7
Optics / CPO leverage
Both bundles
USD 232
+159.2%
$260.8B
53
Axcelis Technologies
ACLS / United States
66.4
#96 / 37.0
#14 / 73.1
Substrate and materials con...
Both bundles
USD 135
+57.3%
$4.4B
54
AMEC
688012.SS / China
66.1
#25 / 66.0
- / n/a
Wafer equipment and process...
CPO bundle only
CNY 472
+125.7%
$59.6B
55
Qorvo
QRVO / United States
63.7
#82 / 42.0
#44 / 63.3
Semiconductor infrastructure
Both bundles
USD 83.87
-2.8%
$7.4B
56
NXP Semiconductors
NXPI / Netherlands
63.6
#48 / 54.0
#70 / 55.6
Semiconductor infrastructure
Both bundles
USD 284
+28.3%
$71.7B
57
AXT
AXTI / United States
63.2
- / n/a
#5 / 76.8
Substrate and materials con...
Broad bundle only
USD 60.12
+258.7%
$3.9B
58
United Microelectronics
UMC / 2303.TW / Taiwan
63.1
#44 / 56.0
#42 / 63.7
Foundry, ASIC and design en...
Both bundles
USD 24.73
+215.4%
$62.0B
59
Realtek Semiconductor
2379.TW / Taiwan
62.3
#74 / 44.0
#36 / 65.1
Optics / CPO leverage
Both bundles
TWD 840
+72.3%
$12.5B
60
MaxLinear
MXL / United States
60.1
#11 / 72.0
- / n/a
Optics / CPO leverage
CPO bundle only
USD 86.05
+364.9%
$7.7B
61
KLA
KLAC / United States
59.9
#55 / 52.0
#61 / 57.9
Test, probe and yield contr...
Both bundles
USD 221
+73.5%
$288.9B
62
Ambarella
AMBA / United States
59.8
- / n/a
#65 / 56.9
Semiconductor infrastructure
Broad bundle only
USD 74.74
-0.6%
$3.2B
63
National Silicon Industry Group
688126.SS / China
59.5
- / n/a
#59 / 59.0
Substrate and materials con...
Broad bundle only
CNY 37.25
+66.7%
$15.8B
64
Disco
6146.T / Japan
59.1
#71 / 45.0
#51 / 61.8
Advanced packaging bottlene...
Both bundles
JPY 71,510
+39.9%
$48.1B
65
Lam Research
LRCX / United States
59.1
#57 / 52.0
#64 / 57.1
Substrate and materials con...
Both bundles
USD 333
+80.0%
$416.6B
66
Skyworks Solutions
SWKS / United States
58.5
#84 / 42.0
#46 / 63.2
Semiconductor infrastructure
Both bundles
USD 58.49
-9.2%
$8.9B
67
onsemi
ON / United States
58.5
#79 / 43.0
#68 / 55.9
Substrate and materials con...
Both bundles
USD 93.79
+65.4%
$36.5B
68
ASE Technology
ASX / 3711.TW / Taiwan
58.2
#61 / 50.0
#23 / 69.1
Advanced packaging bottlene...
Both bundles
USD 39.93
+136.8%
$87.6B
69
Power Integrations
POWI / United States
58.1
#94 / 38.0
#49 / 61.9
Semiconductor infrastructure
Both bundles
USD 66.46
+78.2%
$3.7B
70
TSMC
TSM / 2330.TW / Taiwan
57.8
#34 / 61.0
#98 / 32.2
Foundry, ASIC and design en...
Both bundles
USD 437
+36.7%
$2.48T
71
Monolithic Power Systems
MPWR / United States
57.5
#67 / 48.0
#88 / 47.0
Semiconductor infrastructure
Both bundles
USD 1,316
+40.5%
$67.9B
72
ASML Holding
ASML / Netherlands
56.0
#37 / 60.0
#96 / 41.2
Substrate and materials con...
Both bundles
USD 1,769
+52.0%
$681.9B
73
Qualcomm
QCOM / United States
55.9
#76 / 44.0
#75 / 53.8
Semiconductor infrastructure
Both bundles
USD 187
+7.8%
$196.6B
74
Allegro MicroSystems
ALGM / United States
55.6
#83 / 42.0
#60 / 58.0
Semiconductor infrastructure
Both bundles
USD 51.47
+91.3%
$9.6B
75
Tokyo Electron
8035.T / Japan
54.3
#63 / 49.0
#50 / 61.8
Substrate and materials con...
Both bundles
JPY 71,060
+92.4%
$200.1B
76
Ultra Clean Holdings
UCTT / United States
54.2
- / n/a
#11 / 74.3
Substrate and materials con...
Broad bundle only
USD 101
+269.4%
$4.5B
77
Cirrus Logic
CRUS / United States
52.9
#90 / 40.0
#56 / 59.7
Semiconductor infrastructure
Both bundles
USD 147
+22.7%
$7.5B
78
Teradyne
TER / United States
52.8
#60 / 50.0
- / n/a
Test, probe and yield contr...
CPO bundle only
USD 352
+69.4%
$55.0B
79
NVIDIA
NVDA / United States
52.6
#52 / 53.0
#100 / 21.8
Semiconductor infrastructure
Both bundles
USD 204
+8.1%
$4.94T
80
MediaTek
2454.TW / Taiwan
52.1
#47 / 55.0
#79 / 51.6
Semiconductor infrastructure
Both bundles
TWD 3,925
+167.0%
$198.3B
81
Analog Devices
ADI / United States
52.0
#72 / 45.0
#93 / 45.3
Semiconductor infrastructure
Both bundles
USD 385
+40.8%
$191.8B
82
Hua Hong Semiconductor
1347.HK / China
50.8
#58 / 51.0
#74 / 54.3
Foundry, ASIC and design en...
Both bundles
HKD 202
+148.9%
$47.3B
83
STMicroelectronics
STM / STMPA / Switzerland/France/Italy
50.7
#51 / 53.0
#69 / 55.9
Semiconductor infrastructure
Both bundles
USD 68.54
+150.4%
$61.2B
84
Microchip Technology
MCHP / United States
50.6
#75 / 44.0
#82 / 49.5
Semiconductor infrastructure
Both bundles
USD 85.49
+31.5%
$46.4B
85
Broadcom
AVGO / United States
50.5
#50 / 54.0
#99 / 24.8
Foundry, ASIC and design en...
Both bundles
USD 389
+11.8%
$1.85T
86
Renesas Electronics
6723.T / Japan
50.5
#66 / 48.0
#72 / 54.6
Semiconductor infrastructure
Both bundles
JPY 4,817
+116.5%
$55.0B
87
Texas Instruments
TXN / United States
50.4
#73 / 45.0
#91 / 46.2
Semiconductor infrastructure
Both bundles
USD 301
+69.7%
$274.2B
88
Applied Materials
AMAT / United States
49.5
#56 / 52.0
#63 / 57.2
Substrate and materials con...
Both bundles
USD 571
+112.2%
$574.0B
89
SUMCO
3436.T / Japan
47.4
#41 / 58.0
- / n/a
Substrate and materials con...
CPO bundle only
JPY 4,544
+213.6%
$11.0B
90
WIN Semiconductors
3105.TWO / Taiwan
47.0
#88 / 40.0
#47 / 63.0
Foundry, ASIC and design en...
Both bundles
TWD 406
+126.8%
$5.4B
91
Samsung Electronics
005930.KS / South Korea
46.9
#65 / 49.0
#76 / 53.7
Foundry, ASIC and design en...
Both bundles
KRW 278,000
+116.3%
$1.40T
92
Arm Holdings
ARM / United Kingdom
46.6
#49 / 54.0
#86 / 48.0
Foundry, ASIC and design en...
Both bundles
USD 300
+161.7%
$320.9B
93
ROHM
6963.T / Japan
46.2
#97 / 37.0
#38 / 64.4
Substrate and materials con...
Both bundles
JPY 5,556
+143.9%
$14.2B
94
Advanced Micro Devices
AMD / United States
45.2
#62 / 50.0
#80 / 50.9
Semiconductor infrastructure
Both bundles
USD 517
+131.5%
$843.7B
95
Impinj
PI / United States
45.0
#77 / 43.0
- / n/a
Semiconductor infrastructure
CPO bundle only
USD 143
-20.4%
$4.4B
96
Sivers Semiconductors
SIVE.ST / Sweden
45.0
- / n/a
#3 / 88.0
Optics / CPO leverage
Broad bundle only
SEK 40.8
+853.3%
$1.7B
97
Powerchip Semiconductor
6770.TW / Taiwan
44.5
#85 / 41.0
- / n/a
Foundry, ASIC and design en...
CPO bundle only
TWD 71.1
+68.9%
$9.4B
98
Nanya Technology
2408.TW / Taiwan
44.4
#95 / 38.0
#52 / 61.6
Memory and AI-server pull
Both bundles
TWD 436
+110.4%
$39.5B
99
Valens Semiconductor
VLN / Israel
43.8
#80 / 42.0
- / n/a
Optics / CPO leverage
CPO bundle only
USD 2.04
+30.8%
$260M
100
Ichor Holdings
ICHR / United States
43.5
- / n/a
#22 / 69.7
Wafer equipment and process...
Broad bundle only
USD 88.81
+335.1%
$2.9B
101
Silicon Motion
SIMO / Taiwan
42.7
#78 / 43.0
#57 / 59.7
Semiconductor infrastructure
Both bundles
USD 313
+234.2%
$10.6B
102
Synaptics
SYNA / United States
40.1
#87 / 40.0
- / n/a
Semiconductor infrastructure
CPO bundle only
USD 123
+62.9%
$4.8B
103
Micron Technology
MU / United States
39.8
#59 / 51.0
#84 / 48.4
Memory and AI-server pull
Both bundles
USD 949
+200.8%
$1.07T
104
GigaDevice
603986.SS / China
39.6
#68 / 47.0
#78 / 52.5
Memory and AI-server pull
Both bundles
CNY 663
+181.5%
$62.6B
105
Kulicke and Soffa
KLIC / Singapore
39.3
#69 / 46.0
- / n/a
Advanced packaging bottlene...
CPO bundle only
USD 104
+115.6%
$5.5B
106
Intel
INTC / United States
38.5
#64 / 49.0
#87 / 47.3
Foundry, ASIC and design en...
Both bundles
USD 110
+179.9%
$554.1B
107
Himax Technologies
HIMX / Taiwan
36.3
#91 / 39.0
- / n/a
Semiconductor infrastructure
CPO bundle only
USD 14.9
+74.7%
$2.6B
108
Applied Optoelectronics
AAOI / United States
35.7
- / n/a
#81 / 49.5
Optics / CPO leverage
Broad bundle only
USD 114
+189.0%
$9.2B
109
Novatek Microelectronics
3034.TW / Taiwan
35.6
#89 / 40.0
- / n/a
Semiconductor infrastructure
CPO bundle only
TWD 542
+47.7%
$10.1B
110
SK Hynix
000660.KS / South Korea
35.4
#43 / 57.0
#95 / 44.5
Memory and AI-server pull
Both bundles
KRW 2,186,000
+222.9%
$1.33T
111
CEVA
CEVA / Israel
34.9
#81 / 42.0
- / n/a
Optics / CPO leverage
CPO bundle only
USD 44.56
+98.8%
$1.2B
112
Cambricon Technologies
688256.SS / China
29.8
- / n/a
#97 / 40.6
Semiconductor infrastructure
Broad bundle only
CNY 1,535
+64.5%
$130.7B
113
Zhongji Innolight
300308.SZ / China
29.7
- / n/a
#90 / 46.4
Optics / CPO leverage
Broad bundle only
CNY 1,195
+91.6%
$215.3B
114
Diodes Incorporated
DIOD / United States
29.6
#92 / 39.0
- / n/a
Semiconductor infrastructure
CPO bundle only
USD 92.77
+80.4%
$4.8B
115
ChipMOS Technologies
IMOS / Taiwan
22.8
#93 / 38.0
- / n/a
Advanced packaging bottlene...
CPO bundle only
USD 68.07
+122.9%
$2.3B
116
ams OSRAM
AMS.SW / Austria
20.5
#99 / 35.0
- / n/a
Semiconductor infrastructure
CPO bundle only
CHF 18.41
+113.7%
$2.4B
117
Silergy
6415.TW / Taiwan
13.3
#98 / 36.0
- / n/a
Semiconductor infrastructure
CPO bundle only
TWD 523
+181.9%
$6.8B
Selected company
Coherent
COHR / United States
100.0
Unified rank
#1
Prior rank
#1
CPO rank
#6
Broad rank
#32
Latest price
USD 317
YTD
+63.1%
Market cap
$62.0B
Why it ranks
NVIDIA partnership validates datacenter optics; upside depends on capacity, margins and repeat orders.
Research action
Use as a cross-validated watchlist name: compare why each bundle scored it differently before assigning portfolio weight or research time.
Risk
Large recent rerating; execution/capacity build risk
Optics / CPO leverageBoth bundlesUseful disagreementHigh: cross-bundle with public value-chain support
Relationship Evidence
Named CPO relationships are scarce; inferred ecosystem edges are abundant.
The relationship explorer keeps the distinction visible. Specific public cash-flow rows are useful for thesis confidence; inferred ecosystem rows are useful for map completeness but should not be treated as pairwise revenue disclosure.
Hover a relationship to inspect the evidence trail. The graph emphasizes public or high-strength edges; the CSV archive contains the full relationship map.
Evidence mix
inferred adjacency
1037
public value-chain
950
specific public
5
specific public ecosystem
4
public ecosystem
2
specific public CPO production th...
1
public product demo
1
ECOSYSTEM-INFERRED
4729
LOW-CONFIDENCE-MAP
45
DOCUMENTED-ECOSYSTEM
9
DOCUMENTED
7
DOCUMENTED-FILING
3
Cash-flow audit
Rows below are the disclosed or explicitly caveated cash-flow items from the CPO bundle.
Pair
Direction
Disclosure
Quality
Sources
NVIDIA -> Lumentum
capital + future component purchases
$2B investment; multibillion purchase commitment; capacity access rights
Every chart points back to the bundle data and source index.
The broad bundle carries relationship confidence notes but not a separate URL source index. The CPO bundle includes direct source URLs, cash-flow source IDs, original CSVs and an HTML archive; all are linked below.
Direct cable/fiber attach beneficiary but not a semiconductor company.
Foxconn Interconnect Technology (6088.HK)
Very direct CPO connector/cable adjacency; not a semiconductor company.
Delta Electronics (2308.TW)
System and power layer; semiconductor-adjacent.
Amphenol (APH)
Potential CPO cable/connectivity basket constituent; not semiconductor.
TE Connectivity (TEL)
Connector/cable exposure, not semiconductor.
Fabrinet (FN)
Manufacturing services; not semiconductor.
SENKO (Private)
Important to CPO cable thesis but not public.
Twinstar Technologies (Private)
Maybe the cleanest CPO cable proof point, but private.
Micas Networks (Private)
System company; private.
Molex (Koch private)
Private.
Techwing (089030.KQ)
Only +68% over 1 year versus +250-280% for Hanmi-style Korean HBM names; no meaningful Western sell-side coverage; the Cube Prober story is documented mostly in Korean trade press (THE ELEC) and has n
Micronics Japan (6871.T)
Coverage is almost entirely Japan-domestic; it is absent from Western AI-supply-chain baskets that hold Advantest/Technoprobe/FormFactor for the same exposure; probe cards remain an under-modeled cons