Serenity@aleabitoredditPost2026-05-20

The optical interconnect bottleneck nobody is pricing in

Argues the real AI scaling limit is optical interconnect / co-packaged optics, gated upstream by InP substrate supply — favoring the substrate chokepoint over NVDA itself.

“Everyone buys NVDA. I buy the chokepoint NVDA can't ship without. CPO scaling is gated by InP substrate supply. $AXTI sits on 60%+ domestic share of that node.”