Electrical I/O hits the wall at 400G+. Co-Packaged Optics moves lasers inside the chip package. 1.6T optical interconnects begin mass production. The hidden bottleneck mainstream investors miss.
As AI clusters scale to 100,000+ GPUs, copper cannot move data fast enough — electrical I/O becomes the new constraint. Co-Packaged Optics (CPO) is the architectural shift: lasers integrated directly onto the chip package, eliminating the electrical bottleneck. A new supply chain of laser makers, substrate specialists, and optical engine builders emerges. Most are still valued like sleepy industrial companies. Source: @aleabitoreddit (Serenity) photonics research.
Research credit: Serenity (@aleabitoreddit), whose public photonics work this phase draws on. Phase 5 has been on this map, with these tickers, since the site launched on May 26, 2026 (verifiable in the site's git history). We do not claim the original call — we keep the score on it, daily.
| Ticker | Company | Price | YTD 2026 | Since tracked (2026-06-03) |
|---|---|---|---|---|
| IQE | IQE PLC (London / OTC) | $31.85 | +503.9% | -40.0% |
| SLOIF | Soitec (OTC: SLOIF) | $109 | +343.6% | -38.9% |
| SIVE | Sivers Semiconductors (Nasdaq Stockholm) | $15.71 | +282.7% | -84.1% |
| AEHR | Aehr Test Systems | $59.57 | +168.8% | — added later |
| AXTI | AXT Inc | $39.31 | +134.5% | -64.5% |
| LITE | Lumentum Holdings | $585.57 | +54.4% | — added later |
| AAOI | Applied Optoelectronics | $48.32 | +31.6% | -76.1% |
| COHR | Coherent Corp | $214.66 | +10.5% | -49.7% |
| POET | POET Technologies | $5.07 | -29.2% | — added later |
Methodology: YTD from Yahoo Finance daily closes. "Since tracked" measures from the first price snapshot committed to this site's public git history on 2026-06-03 — including drawdowns. Tickers added to the map after that date show "added later" rather than a backfilled number.
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Educational framework, not financial advice. Tickers and theses are illustrative of each phase's investment thesis, not recommendations.