πŸ“Š raki research
🧭 CPO (Co-Packaged Optics) β†’ κ΄‘ νŒ¨ν‚€μ§•14μ’…λͺ©

🧭 CPO (Co-Packaged Optics) β†’ κ΄‘ νŒ¨ν‚€μ§•

horizon 1-3y Β· confidence MEDIUM Β· last_updated β€”

L0 κ±°μ‹œ trend

AI chip κ°„ κ΄‘ 인터컀λ„₯트 μˆ˜μš” (μ „κΈ° β†’ κ΄‘ μ „ν™˜ paradigm)

L1 μ‚°μ—… μž„νŒ©νŠΈ

μ‹€λ¦¬μ½˜ ν¬ν† λ‹‰μŠ€Β·κ΄‘ νŒ¨ν‚€μ§•Β·κ΄‘ μŠ€μœ„μΉ˜

L2 병λͺ© (Bottleneck)
  • CPO νŒ¨ν‚€μ§• capacity λΆ€μ‘± (TSMC CoWoS ν™•μž₯)
  • κ΄‘ λͺ¨λ“ˆ (transceiver) 800Gβ†’1.6T μ „ν™˜
  • μ‹€λ¦¬μ½˜ ν¬ν† λ‹‰μŠ€ μ–‘μ‚° 수율
L3 1차 수혜 (Pure-play)
πŸ‡°πŸ‡· KR
라이트둠 069540 μ˜΅ν‹°μ‹œμŠ€ 109080
🌐 Global
TSMC 2330.TW Broadcom AVGO Marvell MRVL Coherent COHR
L4 2차 수혜 (Picks & Shovels)
πŸ‡°πŸ‡· KR
RFHIC 218410 KMW 032500 디케이앀디 174480
🌐 Global
Lumentum LITE II-VI/Coherent COHR Fabrinet FN
L5 μƒνƒœκ³„ (Ecosystem)
🌐 Global
NVIDIA NVDA Arista Networks ANET

πŸ“š Sources

  • TSMC 2026 tech symposium β€” CoWoS-L Β· CPO roadmap
  • NVIDIA GTC 2025 keynote β€” NVL72Β·NVLink Switch κ΄‘ λ„μž…
  • Marvell 2025 AI Day β€” 1.6T transceiver

πŸ“ Notes

CPOλŠ” chip-to-chip κ΄‘ 톡합. AI 데이터센터 power efficiencyΒ·latency ν•΄κ²° 핡심. 2027-2028 μ–‘μ‚°ν™” 본격. ν•œκ΅­ μ’…λͺ©μ€ 비ꡐ적 약함.

πŸ”— κ΄€λ ¨ chain