Mizuho Securities disclosed that market apprehensions surrounding potential setbacks in Co-Packaged Optics (CPO) mass production and 800V DC infrastructure deployment are unfounded. The research firm affirmed that both technological trajectories are advancing according to plan, with widespread commercial availability projected between 2028 and 2029. This confirmation aligns with prior statements from Nvidia's Senior Vice President of Networking, who verified that mass production and customer deliveries for the Spectrum-X Ethernet CPO switch will proceed as scheduled in the second half of 2026.

Driven by anticipated ramp-up demand for Nvidia's 3.2T Spectrum-X CPO switch in 2027, Mizuho has elevated its shipment forecast for Optical Engines. From a technological standpoint, Indium Phosphide Distributed Feedback (InP DFB) lasers are positioned as the enduring mainstream solution for CPO, specifically benefiting entities such as SIVE. Conversely, VCSEL and microLED technologies have yet to demonstrate sufficient validation for short-distance intra-rack and chip-to-chip applications exceeding 1.6T, rendering them unlikely candidates for near-term mainstream adoption. Regarding 800V DC data center integration, incremental shipments are slated to commence in 2027, with deeper market penetration expected to accelerate throughout 2028.