Potential Upstream Beneficiary of Nvidia’s CPO Push Come 2026

There is a small-cap company that is emerging as a potential beneficiary of an upcoming shift to co-packaged optics over the next two years. Nvidia introduced its first co-packaged optics (CPO) switches with integrated silicon photonics at GTC 2025, addressing the need of providing more bandwidth and faster speeds while reducing energy consumption in exascale GPU clusters. Nvidia is utilizing TSMC’s COUPE (Compact Universal Photonic Engine) for its Quantum-X and Spectrum-X switches, and this company’s wafer-level optics tech (WLO) is expected to be an integral part of the CPO supply chain for TSMC’s COUPE.

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