AAOI this ticket is about supply-side positioning; if NVIDIA/AMD's large orders are fulfilled, the valuation system will be directly re-evaluated.

BlockBeats’ Serenity is bullish on AAOI: after its market capitalization rose to about $1.3 billion, it has even more confidence in its long-term value. The expansion of AI infrastructure has tightened laser supply, which is favorable for capacity; however, the market is overlooking its potential agreements for long-term supply with NVIDIA/AMD. If first-half 2027 revenue reaches $471 million, it will signal an extreme ramp-up in capacity; the current $600,000 ATM financing is a near-term headwind. Serenity says its core issue is capacity rather than demand, making it the top pick for US photonics longs.