{
  "report_id": "theme_ai_capex_node_networking_optical_interconnect",
  "report_type": "theme_value_chain_node",
  "site_path": "themes/ai-capex-cycle/nodes/networking-optical-interconnect/index.html",
  "title": "Networking, Optical, And Interconnect",
  "as_of": "2026-06-12",
  "generated_at": "2026-06-13T13:15:00-07:00",
  "freshness": {
    "price_data_as_of": "2026-06-12",
    "daily_ohlc_latest": "2026-06-12",
    "chart_interval": "weekly",
    "knowledge_reviewed_as_of": "2026-06-13",
    "active_common_stocks": 5274,
    "filtered_coverage_count": 4991
  },
  "revision": {
    "version": 3,
    "updated_label": "Latest node-page format with visual setup, basket cards, evidence board, and earnings-date caveats",
    "metadata_path": "themes/ai-capex-cycle/nodes/networking-optical-interconnect/report.json"
  },
  "node": {
    "slug": "networking-optical-interconnect",
    "order": 7,
    "level": "L2 investable operating node",
    "role": "Tracks whether AI cluster bandwidth demand converts into Ethernet switching, AI networking silicon, optical transport, active electrical cables, PCIe/CXL retimers, optical modules, and physical interconnect revenue with durable margin, cash conversion, and customer breadth.",
    "description": "Networking, optical, and interconnect covers the switches, Ethernet fabrics, active electrical cables, optical links, retimers, PCIe/CXL devices, fabric switches, DCI systems, optical modules, and physical interconnect products that connect accelerators into usable AI clusters. The current merged basket ranks ANET, CRDO, ALAB, AVGO, MRVL, CIEN, COHR, LITE, CSCO, FN, MTSI, APH, AAOI, SMTC, and MXL, with POET, GLW, and MCHP watch-only."
  },
  "ticker_baskets": {
    "core": [
      "ANET",
      "CRDO",
      "ALAB",
      "AVGO",
      "MRVL",
      "CIEN",
      "COHR",
      "LITE",
      "CSCO",
      "FN",
      "MTSI",
      "APH",
      "AAOI",
      "SMTC",
      "MXL"
    ],
    "option": [],
    "watch": []
  },
  "demand_origin_refs": [
    "MSFT",
    "GOOGL",
    "AMZN",
    "META",
    "CRWV"
  ],
  "chart_artifacts": [
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      "ticker": "ANET",
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      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/ANET/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-crdo",
      "ticker": "CRDO",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/CRDO/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-alab",
      "ticker": "ALAB",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/ALAB/chart?frequency=weekly&window=3y&as_of=latest",
      "caveat": "Shorter local public history because ALAB begins after its 2024 IPO."
    },
    {
      "chart_id": "chart-avgo",
      "ticker": "AVGO",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/AVGO/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-mrvl",
      "ticker": "MRVL",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/MRVL/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-cien",
      "ticker": "CIEN",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
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        "20w_average_volume"
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/CIEN/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-cohr",
      "ticker": "COHR",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/COHR/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-lite",
      "ticker": "LITE",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/LITE/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-csco",
      "ticker": "CSCO",
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      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/CSCO/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-fn",
      "ticker": "FN",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/FN/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-mtsi",
      "ticker": "MTSI",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
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      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/MTSI/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-aph",
      "ticker": "APH",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/APH/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-aaoi",
      "ticker": "AAOI",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/AAOI/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-smtc",
      "ticker": "SMTC",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/SMTC/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "chart_id": "chart-mxl",
      "ticker": "MXL",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "rendering": "report_api_selected_security",
      "api_route": "/api/securities/MXL/chart?frequency=weekly&window=3y&as_of=latest"
    }
  ],
  "links_out": [
    "theme_ai_capex_cycle",
    "theme_ai_capex_node_hyperscaler_cloud_capex_budgets",
    "theme_ai_capex_node_accelerators_custom_silicon",
    "theme_ai_capex_node_servers_racks_ems_systems_integration",
    "theme_memory_and_component_scarcity",
    "theme_trade_tariff_sourcing_geography",
    "risk_market_fragility_amplification"
  ],
  "knowledge_sources": [
    "../../../../../knowledge/wiki/concepts/themes/ai-capex-cycle.md",
    "../../../../../knowledge/wiki/lanes/sector/information-technology.md",
    "../../../../../knowledge/wiki/concepts/themes/memory-and-component-scarcity.md",
    "../../../../../knowledge/wiki/concepts/themes/funding-dependency-and-duration-tolerance.md",
    "../../../../../knowledge/wiki/concepts/themes/trade-tariff-sourcing-geography.md",
    "../../../../../knowledge/wiki/concepts/risks/market-fragility-amplification.md",
    "../../../../../knowledge/wiki/lanes/security/anet.md",
    "../../../../../knowledge/wiki/lanes/security/crdo.md",
    "../../../../../knowledge/wiki/lanes/security/alab.md",
    "../../../../../knowledge/wiki/lanes/security/avgo.md",
    "../../../../../knowledge/wiki/lanes/security/mrvl.md",
    "../../../../../knowledge/wiki/lanes/security/cien.md",
    "../../../../../knowledge/wiki/lanes/security/cohr.md",
    "../../../../../knowledge/wiki/lanes/security/lite.md",
    "../../../../../knowledge/wiki/lanes/security/csco.md",
    "../../../../../knowledge/wiki/lanes/security/fn.md",
    "../../../../../knowledge/wiki/lanes/security/mtsi.md",
    "../../../../../knowledge/wiki/lanes/security/aph.md",
    "../../../../../knowledge/wiki/lanes/security/aaoi.md",
    "../../../../../knowledge/wiki/lanes/security/smtc.md",
    "../../../../../knowledge/wiki/lanes/security/mxl.md",
    "../../../../../knowledge/wiki/lanes/security/poet.md",
    "../../../../../knowledge/wiki/lanes/security/mchp.md"
  ],
  "external_sources": [
    {
      "kind": "official_company_release",
      "label": "Credo Technology Q4 and FY2026 financial results",
      "url": "https://investors.credosemi.com/news-events/news/news-details/2026/Credo-Technology-Group-Holding-Ltd-Reports-Fourth-Quarter-and-Fiscal-Year-2026-Financial-Results/default.aspx",
      "as_of": "2026-06-01"
    },
    {
      "kind": "official_company_release",
      "label": "Broadcom Q2 FY2026 financial results",
      "url": "https://investors.broadcom.com/news-releases/news-release-details/broadcom-inc-announces-second-quarter-fiscal-year-2026-financial",
      "as_of": "2026-06-03"
    },
    {
      "kind": "official_company_release",
      "label": "Ciena Q2 FY2026 financial results",
      "url": "https://investor.ciena.com/news/news-details/2026/Ciena-Reports-Fiscal-Second-Quarter-2026-Financial-Results/default.aspx",
      "as_of": "2026-06-04"
    },
    {
      "kind": "official_company_release",
      "label": "Marvell Q1 FY2027 financial results",
      "url": "https://investor.marvell.com/news-events/press-releases/detail/1023/marvell-technology-inc-reports-first-quarter-of-fiscal-year-2027-financial-results",
      "as_of": "2026-06-02"
    },
    {
      "kind": "official_company_release",
      "label": "Coherent Q3 FY2026 financial results",
      "url": "https://www.coherent.com/content/dam/coherent/site/en/documents/investors/financial-releases/2026/may-6/earnings-release-fy26-q3.pdf",
      "as_of": "2026-05-06"
    },
    {
      "kind": "official_company_release",
      "label": "Lumentum Q3 FY2026 financial results",
      "url": "https://investor.lumentum.com/financial-news-releases/news-details/2026/Lumentum-Announces-Third-Quarter-of-Fiscal-Year-2026-Financial-Results/default.aspx",
      "as_of": "2026-05-05"
    },
    {
      "kind": "official_company_release",
      "label": "Cisco Q3 FY2026 earnings release",
      "url": "https://investor.cisco.com/news/news-details/2026/CISCO-REPORTS-THIRD-QUARTER-EARNINGS/default.aspx",
      "as_of": "2026-05-13"
    },
    {
      "kind": "official_company_release",
      "label": "Arista Networks Q1 2026 financial results",
      "url": "https://investors.arista.com/Communications/Press-Releases-and-Events/Press-Release-Detail/2026/Arista-Networks-Inc--Reports-First-Quarter-2026-Financial-Results/default.aspx",
      "as_of": "2026-05-05"
    },
    {
      "kind": "official_company_release",
      "label": "Astera Labs Q1 2026 financial results",
      "url": "https://ir.asteralabs.com/news-releases/news-release-details/astera-labs-reports-first-quarter-2026-financial-results",
      "as_of": "2026-05-05"
    },
    {
      "kind": "earnings_calendar_check",
      "label": "Nasdaq earnings pages checked for ANET, CRDO, ALAB, AVGO, MRVL, CIEN, COHR, LITE, CSCO, FN, MTSI, APH, AAOI, SMTC, and MXL; no confirmed next earnings dates found in checked page text",
      "url": "https://www.nasdaq.com/market-activity/stocks/anet/earnings",
      "as_of": "2026-06-13",
      "tickers_checked": [
        "ANET",
        "CRDO",
        "ALAB",
        "AVGO",
        "MRVL",
        "CIEN",
        "COHR",
        "LITE",
        "CSCO",
        "FN",
        "MTSI",
        "APH",
        "AAOI",
        "SMTC",
        "MXL"
      ],
      "result": "Not confirmed"
    }
  ],
  "discovery_sources": [
    {
      "kind": "duckdb_readonly_query",
      "label": "Networking, Optical, And Interconnect ranked ticker local daily_ohlc coverage",
      "query_ref": "discovery:duckdb:daily_ohlc:ANET|CRDO|ALAB|AVGO|MRVL|CIEN|COHR|LITE|CSCO|FN|MTSI|APH|AAOI|SMTC|MXL:2026-06-12"
    },
    {
      "kind": "duckdb_readonly_query",
      "label": "Networking, Optical, And Interconnect weekly OHLC and EMA right-rail chart inputs",
      "query_ref": "discovery:duckdb:daily_ohlc_weekly_aggregation_20w_100w_ema:networking-optical-interconnect:2026-06-12"
    },
    {
      "kind": "status",
      "label": "daily_ohlc lineage-status check for ranked tickers",
      "query_ref": "discovery:lineage-status:daily_ohlc:ANET|CRDO|ALAB|AVGO|MRVL|CIEN|COHR|LITE|CSCO|FN|MTSI|APH|AAOI|SMTC|MXL:2026-06-13",
      "caveat": "Latest lineage rows show successful Massive provider runs in May 2026, while stored daily_ohlc rows are present through 2026-06-12."
    },
    {
      "kind": "report_api",
      "label": "Selected-security right-rail chart route",
      "query_ref": "report-api:/api/securities/{ticker}/chart?frequency=weekly&window=3y&as_of=latest"
    }
  ],
  "subagent_process": {
    "primary_subagents": 10,
    "merge_subagents": 1,
    "final_rank_source": "Tournament merge selected ANET, CRDO, ALAB, AVGO, MRVL, CIEN, COHR, LITE, CSCO, FN, MTSI, APH, AAOI, SMTC, and MXL; POET, GLW, and MCHP remained watch-only.",
    "chart_tickers": [
      "ANET",
      "CRDO",
      "ALAB",
      "AVGO",
      "MRVL",
      "CIEN",
      "COHR",
      "LITE",
      "CSCO",
      "FN"
    ]
  }
}