Switch Super Cycle: AI's 'Third Computing Power Bottleneck', Ethernet Dominates the Trillion-Dollar Feast?

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Goldman Sachs' latest research report data shows that it has raised its average outlook for AI Ethernet datacenter switches in 2026-2030 by 9%, and expects the total datacenter switch market (including traditional) to reach $124.5 billion by 2030. In Q1 2026, the global Ethernet switch market surged 39.8% YoY to $15.4 billion, of which AI datacenter high-speed switches reached $10 billion, soaring 61% YoY. NVIDIA topped the datacenter Ethernet switch market for the first time with a 21.5% market share, followed by Arista at 20.7%. 800G switches have become the absolute mainstay for AI back-end networks, with 1.6T expected to ramp up in the second half of 2026, and the commercialization inflection point for CPO technology has arrived.

Which links can participate in and benefit from the division of labor?

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