# HBM demand — X 热门讨论 (2026-09-12 14:57 UTC)
## @Million_Sancet (Sancet) · 09-12 08:47 · ♥30 ↻3 💬1 Citi estimates that optical interconnects will reach around $92B by 2028, with a 65% CAGR
Silicon photonics rises from 29% to 60%, and demand for CW lasers grows by 114% annually
Citi compares them to HBM
$SIVE manufactures precisely those InP/CW laser arrays that feed SiPh, CPO, ELS, and 1.6T modules
It sits at the scarcest bottleneck in the supply chain, with partners like $GFS Ayar Labs $JBL $POET etc
If lasers become the new bottleneck for AI data centers, demand will outpace capacity, and $SIVE is positioned to capture that shortage
As we've already seen, the increase in $SIVE ASPs will be a regular occurrence over time > 引用 @burak_finance: Citi just put a number on photonics.
Optical interconnect $92B by 2028. 65% compound growth from 2025.
High-speed mix inside data centers goes from 37% to 89%. Silicon photonics goes from 29% to 60%. CW laser chip demand grows 114% a year.
They are calling lasers the next HBM. https://t.co/4VdgBF7wQw https://x.com/Million_Sancet/status/2098694907690885224